Farringdon Capital Ltd. Invests $377,000 in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Farringdon Capital Ltd. acquired a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 1,517 shares of the insurance provider’s stock, valued at approximately $377,000.

Other large investors have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB boosted its stake in shares of RenaissanceRe by 51.3% during the 4th 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. UMB Bank n.a. boosted its position in RenaissanceRe by 40.0% during the fourth quarter. UMB Bank n.a. now owns 175 shares of the insurance provider’s stock worth $44,000 after purchasing an additional 50 shares during the period. Lifestyle Asset Management Inc. grew its holdings in RenaissanceRe by 1.1% during the fourth quarter. Lifestyle Asset Management Inc. now owns 4,645 shares of the insurance provider’s stock valued at $1,156,000 after purchasing an additional 52 shares during the last quarter. AMG National Trust Bank lifted its stake in shares of RenaissanceRe by 1.3% in the fourth quarter. AMG National Trust Bank now owns 4,688 shares of the insurance provider’s stock worth $1,166,000 after buying an additional 59 shares during the last quarter. Finally, Principal Securities Inc. boosted its holdings in shares of RenaissanceRe by 11.9% during the 4th quarter. Principal Securities Inc. now owns 565 shares of the insurance provider’s stock worth $141,000 after buying an additional 60 shares during the period. 99.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. raised shares of RenaissanceRe from a “neutral” rating to an “overweight” rating and set a $284.00 target price for the company in a research report on Tuesday, April 8th. Barclays decreased their target price on RenaissanceRe from $234.00 to $231.00 and set an “underweight” rating for the company in a research note on Friday, April 11th. JMP Securities reaffirmed a “market perform” rating on shares of RenaissanceRe in a research report on Thursday, January 30th. Morgan Stanley reduced their price objective on RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Finally, Bank of America dropped their target price on shares of RenaissanceRe from $437.00 to $426.00 and set a “buy” rating on the stock in a research report on Wednesday, March 26th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, RenaissanceRe has a consensus rating of “Hold” and an average price target of $280.80.

RenaissanceRe Price Performance

Shares of RenaissanceRe stock opened at $241.09 on Friday. RenaissanceRe Holdings Ltd. has a twelve month low of $208.98 and a twelve month 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 firm has a market cap of $11.81 billion, a P/E ratio of 6.88, a price-to-earnings-growth ratio of 2.09 and a beta of 0.29. The firm’s 50-day simple moving average is $237.11 and its 200-day simple moving average is $253.69.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings data 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%. As a group, research analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.40 dividend. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.60 annualized dividend and a dividend yield of 0.66%. RenaissanceRe’s dividend payout ratio is presently 4.57%.

RenaissanceRe 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.