RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC lowered its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 9.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,460 shares of the insurance provider’s stock after selling 538 shares during the period. New York Life Investment Management LLC’s holdings in RenaissanceRe were worth $1,359,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Impax Asset Management Group plc increased its holdings in shares of 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 purchasing an additional 182,530 shares during the period. Geode Capital Management LLC increased its holdings in shares of RenaissanceRe by 2.9% in the third quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider’s stock valued at $250,892,000 after purchasing an additional 25,773 shares during the period. Nepsis Inc. increased its holdings in shares of RenaissanceRe by 32.9% in the fourth quarter. Nepsis Inc. now owns 128,983 shares of the insurance provider’s stock valued at $32,092,000 after purchasing an additional 31,915 shares during the period. Assetmark Inc. increased its holdings in shares of RenaissanceRe by 115.3% in the third quarter. Assetmark Inc. now owns 81,006 shares of the insurance provider’s stock valued at $22,066,000 after purchasing an additional 43,384 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in shares of RenaissanceRe by 12.3% in the third quarter. Fisher Asset Management LLC now owns 80,773 shares of the insurance provider’s stock valued at $22,003,000 after purchasing an additional 8,844 shares during the period. Institutional investors and hedge funds own 99.97% of the company’s stock.

Insider Transactions at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total value of $254,160.00. Following the completion of the transaction, the executive vice president now directly owns 79,392 shares of the company’s stock, valued at $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 available through the SEC website. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on RNR. Evercore ISI lifted their price target on RenaissanceRe from $229.00 to $246.00 and gave the company an “underperform” rating in a research note on Thursday, November 7th. Jefferies Financial Group restated a “hold” rating and issued a $282.00 price target (down from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. Wells Fargo & Company decreased their price target on RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. JPMorgan Chase & Co. lifted their price target on RenaissanceRe from $280.00 to $284.00 and gave the company a “neutral” rating in a research note on Friday, January 3rd. Finally, JMP Securities restated a “market perform” rating on shares of RenaissanceRe in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $279.90.

RenaissanceRe Stock Up 1.4 %

RNR opened at $240.91 on Tuesday. The business’s fifty day moving average is $243.82 and its two-hundred day moving average is $258.09. 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 company has a market cap of $11.87 billion, a price-to-earnings ratio of 6.88, a PEG ratio of 2.09 and a beta of 0.43. RenaissanceRe Holdings Ltd. has a one year low of $208.98 and a one year high of $300.00.

RenaissanceRe (NYSE:RNR) last released its quarterly 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 return on equity of 23.41% and a net margin of 15.99%. Analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The business 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 $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.66%. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. RenaissanceRe’s payout ratio is 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.