Fisher Asset Management LLC Acquires 2,710 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Fisher Asset Management LLC lifted its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 3.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 83,483 shares of the insurance provider's stock after purchasing an additional 2,710 shares during the period. Fisher Asset Management LLC owned about 0.16% of RenaissanceRe worth $20,771,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB raised its position in RenaissanceRe by 51.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider's stock worth $30,000 after acquiring an additional 41 shares during the period. UMB Bank n.a. increased its stake in shares of RenaissanceRe by 40.0% in the 4th quarter. UMB Bank n.a. now owns 175 shares of the insurance provider's stock worth $44,000 after purchasing an additional 50 shares in the last quarter. Advisors Asset Management Inc. bought a new position in RenaissanceRe in the 3rd quarter worth $45,000. ORG Wealth Partners LLC lifted its position in RenaissanceRe by 129.4% during the fourth quarter. ORG Wealth Partners LLC now owns 250 shares of the insurance provider's stock valued at $62,000 after purchasing an additional 141 shares in the last quarter. Finally, LRI Investments LLC grew its holdings in RenaissanceRe by 668.8% during the third quarter. LRI Investments LLC now owns 246 shares of the insurance provider's stock valued at $63,000 after purchasing an additional 214 shares during the period. Hedge funds and other institutional investors own 99.97% of the company's stock.

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Wall Street Analysts Forecast Growth

RNR has been the topic of several recent research reports. Jefferies Financial Group reaffirmed a "hold" rating and issued a $282.00 price objective (down previously from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. JPMorgan Chase & Co. lifted their price target on shares of RenaissanceRe from $280.00 to $284.00 and gave the company a "neutral" rating in a report on Friday, January 3rd. Barclays lowered shares of RenaissanceRe from an "equal weight" rating to an "underweight" rating and dropped their price target for the stock from $284.00 to $234.00 in a research report on Monday, January 6th. Evercore ISI raised their price objective on shares of RenaissanceRe from $229.00 to $246.00 and gave the company an "underperform" rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company dropped their target price 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 assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $279.90.

RenaissanceRe Price Performance

Shares of NYSE:RNR traded up $0.61 during mid-day trading on Friday, reaching $243.81. The stock had a trading volume of 600,241 shares, compared to its average volume of 543,458. The company has a market cap of $12.01 billion, a P/E ratio of 6.96, a price-to-earnings-growth ratio of 2.09 and a beta of 0.38. The business's 50 day moving average price is $243.45 and its 200 day moving average price is $257.92. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19. RenaissanceRe Holdings Ltd. has a 1 year low of $208.98 and a 1 year high of $300.00.

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

RenaissanceRe Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.40 dividend. This is a boost from RenaissanceRe's previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Friday, March 14th. RenaissanceRe's dividend payout ratio (DPR) is presently 4.57%.

Insider Transactions at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total transaction of $254,160.00. Following the sale, the executive vice president now directly owns 79,392 shares of the company's stock, valued at $20,178,270.72. The trade was a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.80% of the company's stock.

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.