Whittier Trust Co. of Nevada Inc. Has $3.42 Million Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Whittier Trust Co. of Nevada Inc. lifted its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 4.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,749 shares of the insurance provider’s stock after acquiring an additional 587 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in RenaissanceRe were worth $3,421,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Whittier Trust Co. increased its stake in RenaissanceRe by 4.0% in the 4th quarter. Whittier Trust Co. now owns 25,706 shares of the insurance provider’s stock valued at $6,396,000 after buying an additional 994 shares during the last quarter. Northwest & Ethical Investments L.P. boosted its stake in shares of RenaissanceRe by 35.2% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 84,798 shares of the insurance provider’s stock worth $21,099,000 after acquiring an additional 22,074 shares during the period. Blueshift Asset Management LLC bought a new position in RenaissanceRe during the fourth quarter worth $299,000. Magnetar Financial LLC acquired a new position in RenaissanceRe in the 4th quarter valued at about $3,039,000. Finally, Teacher Retirement System of Texas increased its stake in shares of RenaissanceRe by 40.2% during the fourth quarter. Teacher Retirement System of Texas now owns 12,249 shares of the insurance provider’s stock worth $3,048,000 after purchasing an additional 3,510 shares during the period. Institutional investors and hedge funds own 99.97% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on RNR. Wells Fargo & Company reduced their price target on RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. JPMorgan Chase & Co. increased their target price on shares of RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a research report on Friday, January 3rd. JMP Securities restated a “market perform” rating on shares of RenaissanceRe in a research report on Thursday, January 30th. Keefe, Bruyette & Woods lowered their price objective on shares of RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a research report on Tuesday, February 4th. Finally, 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. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $279.90.

RenaissanceRe Stock Up 0.4 %

Shares of RNR opened at $236.75 on Friday. RenaissanceRe Holdings Ltd. has a 12 month low of $208.98 and a 12 month high of $300.00. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $11.66 billion, a PE ratio of 6.76, a PEG ratio of 2.09 and a beta of 0.38. The stock’s 50-day moving average price is $241.01 and its two-hundred day moving average price is $257.08.

RenaissanceRe (NYSE:RNR) last announced its 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 net margin of 15.99% and a return on equity of 23.41%. On average, analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.68%. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 14th. RenaissanceRe’s payout ratio is currently 4.57%.

Insider Activity at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is owned by corporate insiders.

About RenaissanceRe

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.