Principal Financial Group Inc. Sells 1,682 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Principal Financial Group Inc. lessened its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 119,034 shares of the insurance provider's stock after selling 1,682 shares during the period. Principal Financial Group Inc. owned approximately 0.23% of RenaissanceRe worth $29,617,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of RenaissanceRe by 51.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider's stock worth $30,000 after purchasing an additional 41 shares during the period. UMB Bank n.a. lifted its holdings in RenaissanceRe by 40.0% during the 4th quarter. UMB Bank n.a. now owns 175 shares of the insurance provider's stock worth $44,000 after buying an additional 50 shares during the period. Lifestyle Asset Management Inc. grew its position in shares of RenaissanceRe by 1.1% in the 4th quarter. Lifestyle Asset Management Inc. now owns 4,645 shares of the insurance provider's stock valued at $1,156,000 after buying an additional 52 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of RenaissanceRe by 3.6% in the third quarter. CIBC Asset Management Inc now owns 1,530 shares of the insurance provider's stock valued at $417,000 after buying an additional 53 shares during the period. Finally, Principal Securities Inc. raised its position in shares of RenaissanceRe by 11.9% during the fourth quarter. Principal Securities Inc. now owns 565 shares of the insurance provider's stock worth $141,000 after acquiring an additional 60 shares during the last quarter. 99.97% of the stock is owned by institutional investors.

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RenaissanceRe Stock Performance

RNR stock traded down $2.38 on Wednesday, hitting $230.42. The company's stock had a trading volume of 106,031 shares, compared to its average volume of 532,199. The stock has a market cap of $11.35 billion, a price-to-earnings ratio of 6.58, a price-to-earnings-growth ratio of 2.09 and a beta of 0.43. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19. The firm has a 50 day moving average of $244.74 and a two-hundred day moving average of $258.09. 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 announced its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.94 by $1.12. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. Equities analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.69%. This is a boost from RenaissanceRe's previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. RenaissanceRe's dividend payout ratio is presently 4.57%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RNR. Wells Fargo & Company lowered their price objective on RenaissanceRe from $288.00 to $277.00 and set an "overweight" rating for the company in a research report on Thursday, January 30th. JPMorgan Chase & Co. boosted their price objective on RenaissanceRe from $280.00 to $284.00 and gave the company a "neutral" rating in a research note on Friday, January 3rd. Keefe, Bruyette & Woods reduced their target price on RenaissanceRe from $318.00 to $294.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 4th. Jefferies Financial Group reissued a "hold" rating and set a $282.00 price target (down previously from $304.00) on shares of RenaissanceRe in a research report on Wednesday, December 18th. Finally, JMP Securities restated a "market perform" rating on shares of RenaissanceRe 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 company's stock. According to MarketBeat, RenaissanceRe currently has a consensus rating of "Hold" and a consensus target price of $279.90.

Insider Buying and Selling at RenaissanceRe

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

About RenaissanceRe

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.