RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Purchased by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lifted its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,167 shares of the insurance provider’s stock after purchasing an additional 184 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in RenaissanceRe were worth $1,286,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in shares of RenaissanceRe during the 4th quarter worth approximately $29,000. MassMutual Private Wealth & Trust FSB increased its stake in RenaissanceRe by 51.3% during 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 during the last quarter. Jones Financial Companies Lllp increased its stake in 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 raised its position in RenaissanceRe by 71.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 65 shares during the period. Finally, UMB Bank n.a. lifted its stake 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 currently owned by institutional investors and hedge funds.

Insider Transactions at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the 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 transaction, the executive vice president now owns 79,392 shares of the company’s stock, valued at $20,178,270.72. This represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RNR. Barclays lowered shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $284.00 to $234.00 in a report on Monday, January 6th. Wells Fargo & Company reduced their price target on shares of 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 reaffirmed a “hold” rating and set a $282.00 price objective (down previously from $304.00) on shares of RenaissanceRe in a research report on Wednesday, December 18th. JPMorgan Chase & Co. boosted their target price on RenaissanceRe from $280.00 to $284.00 and gave the company a “neutral” rating in a research report on Friday, January 3rd. Finally, Bank of America decreased their price target on RenaissanceRe from $437.00 to $426.00 and set a “buy” rating on the stock in a research note on Wednesday, March 26th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $283.40.

RenaissanceRe Stock Performance

NYSE:RNR opened at $242.46 on Monday. The company has a market cap of $11.88 billion, a price-to-earnings ratio of 6.92, a price-to-earnings-growth ratio of 2.09 and a beta of 0.38. The company has a fifty day simple moving average of $239.76 and a two-hundred day simple moving average of $256.53. RenaissanceRe Holdings Ltd. has a 52 week low of $208.98 and a 52 week high of $300.00. 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 announced its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 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 anticipate that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

The company also recently disclosed 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 represents a $1.60 dividend on an annualized basis and a dividend yield of 0.66%. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. RenaissanceRe’s dividend payout ratio (DPR) is presently 4.57%.

RenaissanceRe Company 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.