Sciencast Management LP Invests $1.51 Million in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Sciencast Management LP acquired a new position in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,075 shares of the insurance provider's stock, valued at approximately $1,512,000.

A number of other large investors have also recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB boosted its holdings in RenaissanceRe by 51.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider's stock worth $30,000 after buying an additional 41 shares during the period. UMB Bank n.a. lifted its position in shares of RenaissanceRe by 40.0% in the fourth quarter. UMB Bank n.a. now owns 175 shares of the insurance provider's stock valued at $44,000 after acquiring an additional 50 shares in the last quarter. Lifestyle Asset Management Inc. raised its stake in RenaissanceRe by 1.1% during the 4th quarter. Lifestyle Asset Management Inc. now owns 4,645 shares of the insurance provider's stock valued at $1,156,000 after purchasing an additional 52 shares during the period. AMG National Trust Bank grew its stake in RenaissanceRe by 1.3% during the fourth quarter. AMG National Trust Bank now owns 4,688 shares of the insurance provider's stock valued at $1,166,000 after acquiring an additional 59 shares in the last quarter. Finally, Principal Securities Inc. increased its holdings in shares of RenaissanceRe by 11.9% in the fourth quarter. Principal Securities Inc. now owns 565 shares of the insurance provider's stock worth $141,000 after purchasing an additional 60 shares during the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RNR shares. Jefferies Financial Group restated a "hold" rating and set a $282.00 price target (down previously from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. Keefe, Bruyette & Woods reduced their price target on shares of RenaissanceRe from $318.00 to $294.00 and set an "outperform" rating on the stock in a research report 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. Wells Fargo & Company dropped their price objective on shares of RenaissanceRe from $288.00 to $277.00 and set an "overweight" rating for the company in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. upped their target price on shares of RenaissanceRe from $280.00 to $284.00 and gave the company a "neutral" rating in a research report on Friday, January 3rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $283.40.

RenaissanceRe Trading Up 1.0 %

NYSE:RNR traded up $2.51 during mid-day trading on Thursday, hitting $246.78. 322,855 shares of the stock traded hands, compared to its average volume of 393,075. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. RenaissanceRe Holdings Ltd. has a 52 week low of $208.98 and a 52 week high of $300.00. The stock has a market capitalization of $12.15 billion, a price-to-earnings ratio of 7.05, a PEG ratio of 2.09 and a beta of 0.38. The firm's 50 day moving average is $240.27 and its two-hundred day moving average is $256.70.

RenaissanceRe (NYSE:RNR - Get Free Report) last released 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%. On average, equities research analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Increases Dividend

The firm also recently announced 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 positive change from RenaissanceRe's previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. This represents a $1.60 dividend on an annualized basis and a yield of 0.65%. RenaissanceRe's dividend payout ratio (DPR) is presently 4.57%.

Insider Transactions at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the firm's stock in a transaction dated 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 owns 79,392 shares of the company's stock, valued at $20,178,270.72. This trade represents a 1.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.30% 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.