Oppenheimer Asset Management Inc. Has $2.69 Million Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Oppenheimer Asset Management Inc. decreased its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 13.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,790 shares of the insurance provider's stock after selling 1,668 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in RenaissanceRe were worth $2,685,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Creative Planning increased its stake in RenaissanceRe by 71.8% in the third quarter. Creative Planning now owns 2,383 shares of the insurance provider's stock valued at $649,000 after acquiring an additional 996 shares during the last quarter. Private Advisor Group LLC lifted its position in shares of RenaissanceRe by 63.4% during the 3rd quarter. Private Advisor Group LLC now owns 2,553 shares of the insurance provider's stock worth $695,000 after buying an additional 991 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in RenaissanceRe by 1.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,757 shares of the insurance provider's stock valued at $1,841,000 after acquiring an additional 76 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of RenaissanceRe by 6.0% in the third quarter. State of Alaska Department of Revenue now owns 6,059 shares of the insurance provider's stock worth $1,650,000 after acquiring an additional 345 shares during the last quarter. Finally, abrdn plc grew its holdings in shares of RenaissanceRe by 33.5% during the 3rd quarter. abrdn plc now owns 12,982 shares of the insurance provider's stock valued at $3,536,000 after purchasing an additional 3,260 shares during the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RNR. Jefferies Financial Group restated a "hold" rating and issued a $282.00 target price (down previously from $304.00) on shares of RenaissanceRe in a research report on Wednesday, December 18th. Morgan Stanley dropped their target price on RenaissanceRe from $265.00 to $245.00 and set an "equal weight" rating for the company in a research report on Friday, January 31st. JPMorgan Chase & Co. raised their price objective on shares of RenaissanceRe from $280.00 to $284.00 and gave the company a "neutral" rating in a report on Friday, January 3rd. JMP Securities restated a "market perform" rating on shares of RenaissanceRe in a research report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods cut their target price on RenaissanceRe from $318.00 to $294.00 and set an "outperform" rating on the stock in a report on Tuesday, February 4th. 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 company. Based on data from MarketBeat, RenaissanceRe presently has an average rating of "Hold" and an average target price of $279.90.

RenaissanceRe Trading Down 1.1 %

Shares of RNR stock traded down $2.64 during trading hours on Thursday, hitting $241.36. 254,330 shares of the company were exchanged, compared to its average volume of 531,567. The company has a 50 day simple moving average of $243.72 and a two-hundred day simple moving average of $258.12. The firm has a market cap of $11.89 billion, a P/E ratio of 6.89, a P/E/G ratio of 2.09 and a beta of 0.38. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42. 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 posted its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 EPS for the quarter, topping analysts' consensus estimates of $6.94 by $1.12. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. Equities analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.66%. This is a positive change from RenaissanceRe's previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. RenaissanceRe's payout ratio is presently 4.57%.

Insider Buying and Selling

In other 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 completion of the sale, the executive vice president now owns 79,392 shares in the company, valued at $20,178,270.72. The trade was a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.80% of the stock is owned by company insiders.

RenaissanceRe Company 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.