RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Cerity Partners LLC

Cerity Partners LLC trimmed its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 35.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,330 shares of the insurance provider’s stock after selling 6,341 shares during the quarter. Cerity Partners LLC’s holdings in RenaissanceRe were worth $2,967,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of RNR. Aster Capital Management DIFC Ltd purchased a new position in RenaissanceRe during the fourth quarter worth about $27,000. SBI Securities Co. Ltd. acquired a new stake in RenaissanceRe in the 4th quarter valued at approximately $29,000. MassMutual Private Wealth & Trust FSB increased its holdings in 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 last quarter. Jones Financial Companies Lllp raised its position in RenaissanceRe by 1,587.5% in the fourth quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 127 shares during the period. Finally, Smartleaf Asset Management LLC lifted its stake in RenaissanceRe by 71.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 65 shares in the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on RNR shares. Wells Fargo & Company cut their price objective on RenaissanceRe from $277.00 to $271.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. JMP Securities reissued a “market perform” rating on shares of RenaissanceRe in a research report on Thursday, January 30th. Keefe, Bruyette & Woods dropped their price objective on shares of RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a report on Tuesday, February 4th. Jefferies Financial Group reduced their target price on shares of RenaissanceRe from $266.00 to $265.00 and set a “hold” rating on the stock in a report on Friday. Finally, Barclays dropped their price target on shares of RenaissanceRe from $234.00 to $231.00 and set an “underweight” rating for the company in a research note on Friday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $280.80.

Insider Activity at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of RenaissanceRe 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 transaction, 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 filing with the SEC, which is available at this hyperlink. 1.30% of the stock is owned by corporate insiders.

RenaissanceRe Stock Up 0.9 %

Shares of NYSE RNR opened at $240.10 on Tuesday. RenaissanceRe Holdings Ltd. has a 1 year low of $208.98 and a 1 year high of $300.00. The company has a market capitalization of $11.77 billion, a price-to-earnings ratio of 6.86, a price-to-earnings-growth ratio of 2.09 and a beta of 0.29. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42. The business has a 50-day moving average of $237.05 and a two-hundred day moving average of $254.13.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 EPS 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%. On average, analysts forecast 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 was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $0.40 per share. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Friday, March 14th. RenaissanceRe’s dividend payout ratio (DPR) is currently 4.57%.

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.