Hussman Strategic Advisors Inc. Takes Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Hussman Strategic Advisors Inc. purchased a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,300 shares of the insurance provider’s stock, valued at approximately $1,568,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB grew its stake in shares of RenaissanceRe by 51.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 41 shares during the period. UMB Bank n.a. boosted its position in shares of RenaissanceRe by 40.0% during the 4th 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 during the last quarter. Advisors Asset Management Inc. bought a new position in shares of RenaissanceRe during the 3rd quarter valued at approximately $45,000. ORG Wealth Partners LLC boosted its position in shares of RenaissanceRe by 129.4% during 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 during the last quarter. Finally, LRI Investments LLC boosted its position in shares of RenaissanceRe by 668.8% during the 3rd quarter. LRI Investments LLC now owns 246 shares of the insurance provider’s stock valued at $63,000 after acquiring an additional 214 shares during the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Insider Activity

In other news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $20,178,270.72. The trade was a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

RenaissanceRe Price Performance

Shares of NYSE RNR opened at $230.55 on Thursday. The stock’s 50-day simple moving average is $247.43 and its 200-day simple moving average is $257.94. The firm has a market capitalization of $11.35 billion, a PE ratio of 6.58, a price-to-earnings-growth ratio of 2.12 and a beta of 0.43. 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 fifty-two week low of $208.98 and a fifty-two week high of $300.00.

RenaissanceRe (NYSE:RNR) last announced its earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share for the quarter, beating 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%. As a group, equities research analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The firm also recently declared 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. This represents a $1.60 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Friday, March 14th. RenaissanceRe’s dividend payout ratio (DPR) is currently 4.45%.

Analyst Ratings Changes

Several research firms recently weighed in on RNR. Morgan Stanley decreased their price target on RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Wells Fargo & Company cut their price target on RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Jefferies Financial Group restated a “hold” rating and issued a $282.00 price objective (down from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. Evercore ISI boosted their price target on RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a research note on Thursday, November 7th. Finally, JMP Securities reiterated 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 assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, RenaissanceRe presently has an average rating of “Hold” and an average target price of $279.90.

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.