827 Shares in RenaissanceRe Holdings Ltd. (NYSE:RNR) Acquired by Stevens Capital Management LP

Stevens Capital Management LP bought a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) in the 4th quarter, HoldingsChannel reports. The fund bought 827 shares of the insurance provider’s stock, valued at approximately $206,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in shares of RenaissanceRe in the 4th quarter worth $29,000. MassMutual Private Wealth & Trust FSB boosted 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 acquiring an additional 41 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of RenaissanceRe by 1,587.5% during the fourth quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 127 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of RenaissanceRe by 71.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 65 shares in the last quarter. Finally, UMB Bank n.a. raised its position in shares of RenaissanceRe by 40.0% in the 4th 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. 99.97% of the stock is owned by hedge funds and other institutional investors.

RenaissanceRe Trading Up 1.4 %

Shares of RenaissanceRe stock opened at $239.71 on Tuesday. RenaissanceRe Holdings Ltd. has a fifty-two week low of $208.98 and a fifty-two week high of $300.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42. The company has a market cap of $11.81 billion, a P/E ratio of 6.85, a price-to-earnings-growth ratio of 2.09 and a beta of 0.38. The firm has a 50-day simple moving average of $240.74 and a two-hundred day simple moving average of $256.92.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.67%. The ex-dividend date is Friday, March 14th. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s payout ratio is presently 4.57%.

Insiders Place Their Bets

In other 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 transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on RNR shares. Barclays lowered 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 reiterated a “hold” rating and set a $282.00 price target (down previously from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. Wells Fargo & Company decreased their price objective on shares of RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Keefe, Bruyette & Woods cut 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. 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 assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company 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.