Flagship Harbor Advisors LLC Purchases 180 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Flagship Harbor Advisors LLC increased its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 15.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,335 shares of the insurance provider’s stock after buying an additional 180 shares during the period. Flagship Harbor Advisors LLC’s holdings in RenaissanceRe were worth $332,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Algert Global LLC bought a new position in shares of RenaissanceRe in the 2nd quarter worth about $1,186,000. Rockefeller Capital Management L.P. bought a new stake in RenaissanceRe in the third quarter worth approximately $3,684,000. Fisher Asset Management LLC lifted its stake in RenaissanceRe by 12.3% in the third quarter. Fisher Asset Management LLC now owns 80,773 shares of the insurance provider’s stock valued at $22,003,000 after buying an additional 8,844 shares during the period. Geode Capital Management LLC lifted its stake in RenaissanceRe by 2.9% in the third quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider’s stock valued at $250,892,000 after buying an additional 25,773 shares during the period. Finally, Citigroup Inc. boosted its holdings in shares of RenaissanceRe by 367.4% during the 3rd quarter. Citigroup Inc. now owns 30,476 shares of the insurance provider’s stock worth $8,302,000 after buying an additional 23,956 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RNR. Keefe, Bruyette & Woods lifted their price objective on shares of RenaissanceRe from $310.00 to $318.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. 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 report on Friday, January 3rd. Evercore ISI boosted their target price on RenaissanceRe from $229.00 to $246.00 and gave the company an “underperform” rating in a research report on Thursday, November 7th. Barclays downgraded RenaissanceRe from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $284.00 to $234.00 in a research note on Monday, January 6th. Finally, Bank of America boosted their price objective on RenaissanceRe from $364.00 to $391.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $284.00.

RenaissanceRe Price Performance

RNR opened at $236.96 on Thursday. RenaissanceRe Holdings Ltd. has a 1 year low of $208.98 and a 1 year high of $300.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.43 and a quick ratio of 1.43. The company has a market capitalization of $12.31 billion, a price-to-earnings ratio of 3.41, a P/E/G ratio of 1.90 and a beta of 0.44. The firm’s fifty day moving average price is $261.17 and its two-hundred day moving average price is $257.28.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share for the quarter, topping the consensus estimate of $6.94 by $1.12. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. As a group, analysts anticipate that RenaissanceRe Holdings Ltd. will post 42.52 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend was Friday, December 13th. RenaissanceRe’s payout ratio is 4.45%.

Insider Buying and Selling

In other news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction 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 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 position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.30% of the stock is currently owned by corporate 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.