Flagship Harbor Advisors LLC Purchases 180 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Flagship Harbor Advisors LLC lifted its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 15.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,335 shares of the insurance provider’s stock after purchasing an additional 180 shares during the period. Flagship Harbor Advisors LLC’s holdings in RenaissanceRe were worth $332,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Marshall Wace LLP increased its position in RenaissanceRe by 1,066.1% during the 2nd quarter. Marshall Wace LLP now owns 11,661 shares of the insurance provider’s stock worth $2,606,000 after buying an additional 10,661 shares during the period. The Manufacturers Life Insurance Company raised its stake in RenaissanceRe by 5.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 46,487 shares of the insurance provider’s stock worth $10,390,000 after purchasing an additional 2,459 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in RenaissanceRe by 68.1% in the 2nd quarter. Mackenzie Financial Corp now owns 12,769 shares of the insurance provider’s stock valued at $2,854,000 after purchasing an additional 5,173 shares during the period. Algert Global LLC acquired a new position in shares of RenaissanceRe during the 2nd quarter worth approximately $1,186,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of RenaissanceRe by 23.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 342 shares of the insurance provider’s stock worth $76,000 after purchasing an additional 64 shares during the period. 99.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on RNR. Evercore ISI boosted 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. Keefe, Bruyette & Woods increased their target price on RenaissanceRe from $310.00 to $318.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. StockNews.com downgraded RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Barclays downgraded shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $284.00 to $234.00 in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. boosted their target price 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. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $284.00.

RenaissanceRe Stock Down 8.5 %

Shares of RNR opened at $236.96 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.43 and a current ratio of 1.43. RenaissanceRe Holdings Ltd. has a 52 week low of $208.98 and a 52 week high of $300.00. The stock has a market capitalization of $12.31 billion, a price-to-earnings ratio of 3.41, a PEG ratio of 1.90 and a beta of 0.44. The stock has a fifty day moving average of $261.17 and a 200-day moving average of $257.28.

RenaissanceRe (NYSE:RNR) last announced 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 26.31% and a net margin of 28.84%. As a group, sell-side analysts anticipate that RenaissanceRe Holdings Ltd. will post 42.52 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.66%. The ex-dividend date was Friday, December 13th. RenaissanceRe’s dividend payout ratio (DPR) is currently 4.45%.

Insider Activity

In related news, EVP David E. Marra sold 1,000 shares of the 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 sale, the executive vice president now directly owns 79,392 shares in the company, valued at $20,178,270.72. This represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

RenaissanceRe Company 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.