RenaissanceRe Holdings Ltd. (NYSE:RNR) Position Lifted by Amalgamated Bank

Amalgamated Bank raised its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 1.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 25,176 shares of the insurance provider’s stock after purchasing an additional 378 shares during the period. Amalgamated Bank’s holdings in RenaissanceRe were worth $6,264,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. MassMutual Private Wealth & Trust FSB grew its stake 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 purchasing an additional 41 shares in the last quarter. UMB Bank n.a. lifted its holdings in RenaissanceRe by 40.0% during the 4th quarter. UMB Bank n.a. now owns 175 shares of the insurance provider’s stock worth $44,000 after buying an additional 50 shares during the last quarter. Advisors Asset Management Inc. bought a new position in RenaissanceRe during the 3rd quarter worth approximately $45,000. ORG Wealth Partners LLC grew its position in shares of RenaissanceRe by 129.4% in the 4th quarter. ORG Wealth Partners LLC now owns 250 shares of the insurance provider’s stock worth $62,000 after acquiring an additional 141 shares in the last quarter. Finally, LRI Investments LLC increased its holdings in shares of RenaissanceRe by 668.8% in 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. Institutional investors and hedge funds own 99.97% of the company’s stock.

Insider Activity at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 79,392 shares of the company’s stock, valued at approximately $20,178,270.72. This represents a 1.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Jefferies Financial Group reaffirmed a “hold” rating and issued a $282.00 price objective (down previously from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. Evercore ISI lifted their price target on shares of RenaissanceRe from $229.00 to $246.00 and gave the company an “underperform” rating in a report on Thursday, November 7th. Wells Fargo & Company dropped their price objective 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. JMP Securities reissued a “market perform” rating on shares of RenaissanceRe in a report on Thursday, January 30th. Finally, Barclays lowered RenaissanceRe from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $284.00 to $234.00 in a report on Monday, January 6th. Two 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. According to MarketBeat, RenaissanceRe currently has an average rating of “Hold” and an average target price of $279.90.

RenaissanceRe Stock Performance

RNR opened at $231.22 on Thursday. 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 business’s 50 day moving average is $244.52 and its 200-day moving average is $257.90. The stock has a market cap of $11.39 billion, a PE ratio of 6.60, a price-to-earnings-growth ratio of 2.09 and a beta of 0.43. RenaissanceRe Holdings Ltd. has a twelve month low of $208.98 and a twelve month 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%. On average, analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, March 14th. This represents a $1.60 annualized dividend and a yield of 0.69%. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s dividend payout ratio 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.