Smartleaf Asset Management LLC Purchases 65 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Smartleaf Asset Management LLC boosted its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 71.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 156 shares of the insurance provider’s stock after acquiring an additional 65 shares during the quarter. Smartleaf Asset Management LLC’s holdings in RenaissanceRe were worth $39,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in RNR. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of RenaissanceRe by 51.3% during the fourth 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 in the last quarter. UMB Bank n.a. raised its position in RenaissanceRe by 40.0% in the 4th quarter. UMB Bank n.a. now owns 175 shares of the insurance provider’s stock worth $44,000 after buying an additional 50 shares during the last quarter. Advisors Asset Management Inc. bought a new position in RenaissanceRe during the 3rd quarter valued at about $45,000. ORG Wealth Partners LLC boosted its holdings in shares of RenaissanceRe by 129.4% during the 4th quarter. ORG Wealth Partners LLC now owns 250 shares of the insurance provider’s stock valued at $62,000 after acquiring an additional 141 shares during the last quarter. Finally, LRI Investments LLC grew its stake in shares of RenaissanceRe by 668.8% in the third quarter. LRI Investments LLC now owns 246 shares of the insurance provider’s stock worth $63,000 after acquiring an additional 214 shares during the period. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

RenaissanceRe Stock Down 0.8 %

NYSE RNR opened at $239.53 on Wednesday. The stock’s 50-day moving average price is $242.98 and its 200-day moving average price is $257.97. The company has a market capitalization of $11.80 billion, a P/E ratio of 6.84, a price-to-earnings-growth ratio of 2.09 and a beta of 0.38. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. RenaissanceRe Holdings Ltd. has a 52 week low of $208.98 and a 52 week high of $300.00.

RenaissanceRe (NYSE:RNR) last posted 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 net margin of 15.99% and a return on equity of 23.41%. On average, equities research analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 yield of 0.67%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s dividend payout ratio is presently 4.57%.

Insider Buying and Selling at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction dated 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 owns 79,392 shares of the company’s stock, valued at $20,178,270.72. This represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. 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. JMP Securities restated a “market perform” rating on shares of RenaissanceRe in a research note on Thursday, January 30th. Jefferies Financial Group reiterated 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. Morgan Stanley lowered their target price on RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Finally, Barclays downgraded RenaissanceRe from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $284.00 to $234.00 in a research note 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 assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $279.90.

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.