Bessemer Group Inc. Has $274,000 Stock Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Bessemer Group Inc. grew its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 5.8% in the 4th quarter, HoldingsChannel reports. The fund owned 1,106 shares of the insurance provider’s stock after purchasing an additional 61 shares during the quarter. Bessemer Group Inc.’s holdings in RenaissanceRe were worth $274,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Impax Asset Management Group plc boosted its stake in RenaissanceRe by 10.8% in the 4th quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider’s stock valued at $466,969,000 after purchasing an additional 182,530 shares during the period. World Investment Advisors LLC bought a new stake in RenaissanceRe in the 3rd quarter valued at about $16,176,000. Barclays PLC increased its holdings in shares of RenaissanceRe by 57.1% during the third quarter. Barclays PLC now owns 22,923 shares of the insurance provider’s stock worth $6,244,000 after purchasing an additional 8,333 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of RenaissanceRe in the fourth quarter valued at approximately $7,986,000. Finally, Davis Selected Advisers boosted its stake in shares of RenaissanceRe by 0.8% in the fourth quarter. Davis Selected Advisers now owns 142,313 shares of the insurance provider’s stock valued at $35,409,000 after buying an additional 1,099 shares during the period. Institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Performance

NYSE:RNR opened at $237.66 on Thursday. The stock’s 50-day moving average is $236.97 and its 200-day moving average is $253.91. The stock has a market cap of $11.65 billion, a P/E ratio of 6.79, a price-to-earnings-growth ratio of 2.09 and a beta of 0.29. RenaissanceRe Holdings Ltd. has a 1-year low of $208.98 and a 1-year high of $300.00. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19.

RenaissanceRe (NYSE:RNR) last posted its earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share for the quarter, topping analysts’ consensus estimates of $6.94 by $1.12. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. Equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 0.67%. RenaissanceRe’s payout ratio is presently 4.57%.

Wall Street Analyst Weigh In

RNR has been the subject of several analyst reports. Morgan Stanley dropped their price objective on RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Barclays cut their price objective on shares of RenaissanceRe from $234.00 to $231.00 and set an “underweight” rating for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. raised shares of RenaissanceRe from a “neutral” rating to an “overweight” rating and set a $284.00 target price on the stock in a report on Tuesday, April 8th. Jefferies Financial Group cut their price target on shares of RenaissanceRe from $266.00 to $265.00 and set a “hold” rating for the company in a report on Friday, April 11th. 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, five have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $280.80.

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.