Waverton Investment Management Ltd Has $10 Million Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Waverton Investment Management Ltd lessened its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 0.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 40,165 shares of the insurance provider’s stock after selling 120 shares during the period. Waverton Investment Management Ltd’s holdings in RenaissanceRe were worth $10,002,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Impax Asset Management Group plc lifted its position in RenaissanceRe by 32.4% during the 3rd quarter. Impax Asset Management Group plc now owns 1,697,636 shares of the insurance provider’s stock worth $461,679,000 after buying an additional 415,366 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC acquired a new stake in shares of RenaissanceRe in the third quarter valued at about $18,969,000. Northwest & Ethical Investments L.P. bought a new stake in RenaissanceRe during the third quarter worth about $17,086,000. World Investment Advisors LLC acquired a new position in RenaissanceRe during the third quarter valued at approximately $16,176,000. Finally, Assetmark Inc. boosted its position in RenaissanceRe by 115.3% during the third quarter. Assetmark Inc. now owns 81,006 shares of the insurance provider’s stock valued at $22,066,000 after purchasing an additional 43,384 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

RenaissanceRe Trading Down 1.0 %

Shares of RNR stock opened at $226.53 on Monday. RenaissanceRe Holdings Ltd. has a 12-month low of $208.98 and a 12-month high of $300.00. The company has a market capitalization of $11.16 billion, a PE 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 price of $245.82 and a two-hundred day moving average price of $258.14. 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 (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 return on equity of 23.41% and a net margin of 15.99%. As a group, 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. Stockholders of record on Friday, March 14th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s payout ratio is presently 4.45%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on RNR shares. Morgan Stanley dropped their price objective on RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Evercore ISI upped their price target on shares of RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a research report on Thursday, November 7th. Barclays cut shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $284.00 to $234.00 in a research note on Monday, January 6th. Jefferies Financial Group restated a “hold” rating and set a $282.00 price objective (down from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. Finally, Keefe, Bruyette & Woods cut their target price on shares of RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a research note on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, RenaissanceRe has a consensus rating of “Hold” and a consensus target price of $279.90.

Insider Activity at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the business’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 completion of the sale, the executive vice president now owns 79,392 shares of the company’s stock, valued at $20,178,270.72. The trade was a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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.