Bank of New York Mellon Corp Has $504.11 Million Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Bank of New York Mellon Corp reduced its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 6.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,026,064 shares of the insurance provider’s stock after selling 150,723 shares during the period. Bank of New York Mellon Corp’s holdings in RenaissanceRe were worth $504,105,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB lifted its stake in shares of RenaissanceRe by 51.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 41 shares during the period. UMB Bank n.a. increased its holdings in RenaissanceRe by 40.0% in the fourth quarter. UMB Bank n.a. now owns 175 shares of the insurance provider’s stock valued at $44,000 after purchasing an additional 50 shares during the last quarter. Lifestyle Asset Management Inc. lifted its stake in RenaissanceRe by 1.1% in the fourth quarter. Lifestyle Asset Management Inc. now owns 4,645 shares of the insurance provider’s stock valued at $1,156,000 after buying an additional 52 shares during the period. CIBC Asset Management Inc boosted its holdings in RenaissanceRe by 3.6% during the third quarter. CIBC Asset Management Inc now owns 1,530 shares of the insurance provider’s stock worth $417,000 after buying an additional 53 shares during the last quarter. Finally, Principal Securities Inc. grew its position in shares of RenaissanceRe by 11.9% during the 4th quarter. Principal Securities Inc. now owns 565 shares of the insurance provider’s stock worth $141,000 after buying an additional 60 shares during the period. 99.97% of the stock is owned by institutional investors.

Insider Buying and Selling at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the business’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 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 approximately $20,178,270.72. The trade was a 1.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.80% of the company’s stock.

RenaissanceRe Stock Performance

Shares of RNR opened at $232.80 on Wednesday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19. The firm’s fifty day simple moving average is $244.74 and its two-hundred day simple moving average is $258.09. RenaissanceRe Holdings Ltd. has a 12 month low of $208.98 and a 12 month high of $300.00. The stock has a market capitalization of $11.47 billion, a P/E ratio of 6.65, a price-to-earnings-growth ratio of 2.09 and a beta of 0.43.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings data 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 net margin of 15.99% and a return on equity of 23.41%. As a group, analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The firm also recently disclosed 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. This is an increase 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 yield of 0.69%. RenaissanceRe’s dividend payout ratio is presently 4.57%.

Wall Street Analysts Forecast Growth

RNR has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reduced their price objective on shares of RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 4th. JMP Securities reissued a “market perform” rating on shares of RenaissanceRe in a research report on Thursday, January 30th. Wells Fargo & Company decreased their target price on RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Morgan Stanley dropped their price objective on shares of RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Finally, Evercore ISI increased their price objective on RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a report on Thursday, November 7th. Two equities research 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. Based on data from MarketBeat.com, RenaissanceRe presently has a consensus rating of “Hold” and a consensus target price of $279.90.

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.