Mitsubishi UFJ Trust & Banking Corp Takes Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,729 shares of the insurance provider's stock, valued at approximately $1,177,000.

Several other large investors have also recently made changes to their positions in RNR. EntryPoint Capital LLC purchased a new position in shares of RenaissanceRe during the 4th quarter valued at approximately $240,000. Stevens Capital Management LP purchased a new position in RenaissanceRe during the fourth quarter valued at $206,000. LPL Financial LLC grew its position in shares of RenaissanceRe by 1.4% in the fourth quarter. LPL Financial LLC now owns 7,125 shares of the insurance provider's stock valued at $1,773,000 after purchasing an additional 98 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of RenaissanceRe in the fourth quarter valued at about $3,359,000. Finally, AXQ Capital LP acquired a new position in shares of RenaissanceRe during the 4th quarter worth about $477,000. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RNR. Jefferies Financial Group reiterated a "hold" rating and issued a $282.00 price objective (down from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. Bank of America reduced their price objective on RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a research note on Wednesday, March 26th. Keefe, Bruyette & Woods lowered their target price on shares of RenaissanceRe from $318.00 to $294.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 4th. Morgan Stanley decreased their price target on shares of RenaissanceRe from $265.00 to $245.00 and set an "equal weight" rating on the stock in a research note on Friday, January 31st. Finally, Wells Fargo & Company cut their price objective on shares of RenaissanceRe from $288.00 to $277.00 and set an "overweight" rating for the company in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, RenaissanceRe presently has an average rating of "Hold" and an average price target of $283.40.

Remove Ads

RenaissanceRe Trading Down 1.6 %

Shares of NYSE:RNR traded down $4.00 during midday trading on Thursday, reaching $245.15. 299,321 shares of the company's stock were exchanged, compared to its average volume of 411,446. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market cap of $12.01 billion, a price-to-earnings ratio of 7.00, a P/E/G ratio of 2.09 and a beta of 0.29. The firm's 50 day simple moving average is $238.89 and its two-hundred day simple moving average is $256.21. RenaissanceRe Holdings Ltd. has a fifty-two week low of $208.98 and a fifty-two week high of $300.00.

RenaissanceRe (NYSE:RNR - Get Free Report) last released its earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share for the quarter, beating the consensus estimate of $6.94 by $1.12. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. As a group, sell-side analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, March 14th. This is a positive change from RenaissanceRe's previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a yield of 0.65%. RenaissanceRe's dividend payout ratio is 4.57%.

Insider Buying and Selling at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the business's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total transaction of $254,160.00. Following the completion of the transaction, the executive vice president now owns 79,392 shares in the company, valued at approximately $20,178,270.72. The trade was a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

RenaissanceRe Profile

RenaissanceRe Holdings Ltd., together with its subsidiaries, provides reinsurance and insurance products in the United States and internationally. The company operates through Property, and Casualty and Specialty segments. The Property segment writes property catastrophe excess of loss reinsurance and excess of loss reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, binding facilities, and regional U.S.