RenaissanceRe Holdings Ltd. (NYSE:RNR) Position Reduced by US Bancorp DE

US Bancorp DE lowered its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 2.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 16,437 shares of the insurance provider’s stock after selling 406 shares during the period. US Bancorp DE’s holdings in RenaissanceRe were worth $4,090,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of RNR. Impax Asset Management Group plc increased its holdings in RenaissanceRe by 10.8% in the fourth quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider’s stock valued at $466,969,000 after buying an additional 182,530 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new stake in shares of RenaissanceRe during the 3rd quarter valued at approximately $3,684,000. Fisher Asset Management LLC lifted its stake in RenaissanceRe by 12.3% during the third quarter. Fisher Asset Management LLC now owns 80,773 shares of the insurance provider’s stock worth $22,003,000 after purchasing an additional 8,844 shares during the last quarter. Geode Capital Management LLC lifted its stake in RenaissanceRe by 2.9% during the third quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider’s stock worth $250,892,000 after purchasing an additional 25,773 shares during the last quarter. Finally, Citigroup Inc. boosted its holdings in RenaissanceRe by 367.4% in the third quarter. Citigroup Inc. now owns 30,476 shares of the insurance provider’s stock worth $8,302,000 after purchasing an additional 23,956 shares during the period. Institutional investors and hedge funds own 99.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Evercore ISI raised their price target on shares of RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a research report on Thursday, November 7th. Morgan Stanley cut their target price on shares of RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. JMP Securities restated a “market perform” rating on shares of RenaissanceRe in a research note on Thursday, January 30th. Wells Fargo & Company dropped their price target on RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Finally, Jefferies Financial Group restated a “hold” rating and set a $282.00 price objective (down previously from $304.00) on shares of RenaissanceRe in a research report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $279.90.

RenaissanceRe Price Performance

Shares of NYSE RNR opened at $244.10 on Thursday. RenaissanceRe Holdings Ltd. has a 1-year low of $208.98 and a 1-year high of $300.00. 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’s fifty day moving average price is $243.72 and its two-hundred day moving average price is $258.12. The firm has a market capitalization of $12.02 billion, a PE ratio of 6.97, a P/E/G ratio of 2.09 and a beta of 0.38.

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

RenaissanceRe Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.66%. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 14th. RenaissanceRe’s dividend payout ratio (DPR) is 4.57%.

Insider Activity

In other news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total transaction of $254,160.00. Following the completion of the transaction, the executive vice president now owns 79,392 shares in the company, valued at approximately $20,178,270.72. This trade represents a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.80% of the company’s stock.

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.