Yousif Capital Management LLC Lowers Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Yousif Capital Management LLC reduced its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,261 shares of the insurance provider’s stock after selling 849 shares during the quarter. Yousif Capital Management LLC’s holdings in RenaissanceRe were worth $4,544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. ORG Wealth Partners LLC purchased a new position in RenaissanceRe during the third quarter valued at $30,000. MassMutual Private Wealth & Trust FSB boosted its holdings 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 valued at $30,000 after purchasing an additional 41 shares during the last quarter. UMB Bank n.a. grew its position in shares of RenaissanceRe by 316.7% during the third quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 95 shares in the last quarter. Advisors Asset Management Inc. bought a new stake in shares of RenaissanceRe in the third quarter worth about $45,000. Finally, V Square Quantitative Management LLC lifted its position in shares of RenaissanceRe by 29.5% in the third quarter. V Square Quantitative Management LLC now owns 180 shares of the insurance provider’s stock worth $49,000 after buying an additional 41 shares in the last quarter. Institutional investors own 99.97% of the company’s stock.

Wall Street Analyst Weigh In

RNR has been the topic of a number of research reports. Morgan Stanley reduced their price objective on RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company reduced their price target on shares of RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. JPMorgan Chase & Co. increased their price objective on shares of RenaissanceRe from $280.00 to $284.00 and gave the company a “neutral” rating in a research report on Friday, January 3rd. Evercore ISI boosted their target price on shares of RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a report on Thursday, November 7th. Finally, Barclays downgraded shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $284.00 to $234.00 in a report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $279.90.

Insider Activity at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction that occurred on 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 sale, the executive vice president now owns 79,392 shares of the company’s stock, valued at approximately $20,178,270.72. The trade was a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by company insiders.

RenaissanceRe Stock Down 0.6 %

Shares of NYSE RNR opened at $239.49 on Friday. The company has a market cap of $12.44 billion, a P/E ratio of 6.84, a PEG ratio of 1.65 and a beta of 0.43. The firm has a 50-day simple moving average of $255.06 and a two-hundred day simple moving average of $257.47. 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 1.43.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (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%. Research analysts anticipate that RenaissanceRe Holdings Ltd. will post 33.43 earnings per share for the current year.

RenaissanceRe Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.67%. The ex-dividend date is Friday, March 14th. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s dividend payout ratio (DPR) is currently 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.