Handelsbanken Fonder AB Grows Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Handelsbanken Fonder AB lifted its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 6.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 13,100 shares of the insurance provider’s stock after buying an additional 800 shares during the quarter. Handelsbanken Fonder AB’s holdings in RenaissanceRe were worth $3,259,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB raised its holdings 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 buying an additional 41 shares during the last quarter. Advisors Asset Management Inc. purchased a new stake in shares of RenaissanceRe during the third quarter valued at approximately $45,000. UMB Bank n.a. increased its position in shares of RenaissanceRe by 40.0% during 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. LRI Investments LLC raised its holdings in RenaissanceRe by 668.8% in the 3rd quarter. LRI Investments LLC now owns 246 shares of the insurance provider’s stock worth $63,000 after acquiring an additional 214 shares during the last quarter. Finally, ORG Wealth Partners LLC lifted its position in RenaissanceRe by 129.4% in the 4th quarter. ORG Wealth Partners LLC now owns 250 shares of the insurance provider’s stock valued at $62,000 after acquiring an additional 141 shares in the last quarter. Institutional investors own 99.97% of the company’s stock.

Insiders Place Their Bets

In related news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 79,392 shares of the company’s stock, valued at approximately $20,178,270.72. This represents a 1.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

RNR has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods decreased their price target on RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a research note on Tuesday, February 4th. JPMorgan Chase & Co. lifted their price objective on RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a report on Friday, January 3rd. Evercore ISI upped their target price on shares of RenaissanceRe from $229.00 to $246.00 and gave the company an “underperform” rating in a research note on Thursday, November 7th. Morgan Stanley reduced their price target on shares of RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Finally, JMP Securities restated a “market perform” rating on shares of RenaissanceRe in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $279.90.

RenaissanceRe Stock Performance

Shares of NYSE RNR opened at $226.53 on Monday. 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 12-month low of $208.98 and a 12-month high of $300.00. The firm has a market capitalization of $11.16 billion, a price-to-earnings ratio of 6.47, a price-to-earnings-growth ratio of 2.09 and a beta of 0.43. The firm has a 50 day moving average of $245.82 and a 200 day moving average of $258.14.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 EPS for the quarter, topping the consensus estimate of $6.94 by $1.12. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. On average, research analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, March 14th. This represents a $1.60 annualized dividend and a yield of 0.71%. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s payout ratio is currently 4.45%.

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.