Sei Investments Co. Purchases 29,974 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Sei Investments Co. increased its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 19.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 183,835 shares of the insurance provider's stock after acquiring an additional 29,974 shares during the quarter. Sei Investments Co. owned about 0.35% of RenaissanceRe worth $45,744,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Impax Asset Management Group plc boosted its stake in shares of RenaissanceRe by 10.8% in the 4th quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider's stock valued at $466,969,000 after purchasing an additional 182,530 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new stake in RenaissanceRe during the 3rd quarter worth $3,684,000. Fisher Asset Management LLC raised its position in shares of RenaissanceRe by 12.3% during the 3rd quarter. Fisher Asset Management LLC now owns 80,773 shares of the insurance provider's stock valued at $22,003,000 after acquiring an additional 8,844 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of RenaissanceRe by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider's stock valued at $250,892,000 after purchasing an additional 25,773 shares during the period. Finally, Citigroup Inc. grew its stake in shares of RenaissanceRe by 367.4% during the third quarter. Citigroup Inc. now owns 30,476 shares of the insurance provider's stock worth $8,302,000 after purchasing an additional 23,956 shares during the period. 99.97% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

RNR has been the topic of several analyst reports. Jefferies Financial Group reissued a "hold" rating and issued a $282.00 target price (down previously from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. Bank of America reduced their price objective on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating on the stock in a research note on Wednesday. Barclays downgraded shares of RenaissanceRe from an "equal weight" rating to an "underweight" rating and lowered their target price for the company from $284.00 to $234.00 in a research note on Monday, January 6th. Morgan Stanley reduced 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 report on Friday, January 31st. Finally, JPMorgan Chase & Co. upped their price objective 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 research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, RenaissanceRe has an average rating of "Hold" and an average target price of $283.40.

RenaissanceRe Stock Down 1.7 %

RenaissanceRe stock traded down $4.27 during midday trading on Friday, reaching $242.46. The stock had a trading volume of 269,503 shares, compared to its average volume of 407,716. The stock has a market capitalization of $11.94 billion, a P/E ratio of 6.92, a price-to-earnings-growth ratio of 2.09 and a beta of 0.38. The firm's fifty day simple moving average is $239.76 and its 200-day simple moving average is $256.52. 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 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 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%. As a group, analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

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

Insider Activity at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the firm'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 value of $254,160.00. Following the completion of the transaction, the executive vice president now directly owns 79,392 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is 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.