Envestnet Asset Management Inc. Has $26.55 Million Stock Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Envestnet Asset Management Inc. lowered its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 12.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,696 shares of the insurance provider’s stock after selling 14,549 shares during the quarter. Envestnet Asset Management Inc.’s holdings in RenaissanceRe were worth $26,547,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in RNR. SBI Securities Co. Ltd. bought a new stake in RenaissanceRe during the fourth quarter worth about $29,000. MassMutual Private Wealth & Trust FSB grew its position in 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 during the last quarter. Jones Financial Companies Lllp grew its position in RenaissanceRe by 1,587.5% during the 4th 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 4th 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 last quarter. Finally, UMB Bank n.a. boosted its stake in RenaissanceRe by 40.0% in 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 in the last quarter. 99.97% of the stock is owned by institutional investors.

Insider Transactions at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction 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 sale, the executive vice president now owns 79,392 shares of the company’s stock, valued at approximately $20,178,270.72. This trade represents a 1.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.00% of the company’s stock.

RenaissanceRe Stock Up 2.5 %

Shares of RenaissanceRe stock opened at $237.92 on Friday. RenaissanceRe Holdings Ltd. has a 12 month low of $208.98 and a 12 month high of $300.00. The business has a fifty day simple moving average of $236.93 and a 200 day simple moving average of $254.44. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. The stock has a market cap of $11.66 billion, a PE ratio of 6.79, a price-to-earnings-growth ratio of 2.09 and a beta of 0.29.

RenaissanceRe (NYSE:RNR) last posted its earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) for the quarter, topping 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%. Research analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.40 dividend. The ex-dividend date was Friday, March 14th. 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%. RenaissanceRe’s dividend payout ratio (DPR) is 4.57%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on RNR shares. Morgan Stanley lowered their target price on RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. JMP Securities restated a “market perform” rating on shares of RenaissanceRe in a research report on Thursday, January 30th. Bank of America dropped their target price on shares of RenaissanceRe from $437.00 to $426.00 and set a “buy” rating for the company in a research note on Wednesday, March 26th. Barclays decreased their price target on shares of RenaissanceRe from $234.00 to $231.00 and set an “underweight” rating on the stock in a research note on Friday. Finally, Wells Fargo & Company reduced their price objective on RenaissanceRe from $277.00 to $271.00 and set an “overweight” rating on the stock in a report on Thursday. Two 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $280.80.

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.