Proficio Capital Partners LLC Takes Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Proficio Capital Partners LLC bought a new position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) during the 4th quarter, Holdings Channel reports. The institutional investor bought 32,096 shares of the insurance provider’s stock, valued at approximately $7,986,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Impax Asset Management Group plc raised its stake in 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 buying an additional 182,530 shares during the period. Philadelphia Financial Management of San Francisco LLC bought a new stake in RenaissanceRe in the third quarter valued at approximately $18,969,000. Northwest & Ethical Investments L.P. bought a new stake in RenaissanceRe in the third quarter valued at approximately $17,086,000. World Investment Advisors LLC acquired a new position in shares of RenaissanceRe in the third quarter valued at approximately $16,176,000. Finally, Nepsis Inc. grew its position 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 last quarter. Institutional investors own 99.97% of the company’s stock.

Insider Buying and Selling at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the firm’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 sale, the executive vice president now owns 79,392 shares of the company’s stock, valued at approximately $20,178,270.72. This trade represents a 1.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on RNR. JMP Securities reaffirmed a “market perform” rating on shares of RenaissanceRe in a research report on Thursday, January 30th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $282.00 target price (down previously from $304.00) on shares of RenaissanceRe in a research report on Wednesday, December 18th. Wells Fargo & Company decreased their target price on RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Barclays downgraded RenaissanceRe from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $284.00 to $234.00 in a research report on Monday, January 6th. Finally, Keefe, Bruyette & Woods decreased their target price on RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $279.90.

RenaissanceRe Trading Up 1.4 %

Shares of NYSE:RNR opened at $239.63 on Friday. The company has a market capitalization of $11.80 billion, a P/E ratio of 6.84, a P/E/G ratio of 2.09 and a beta of 0.38. 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 1.42. The business’s 50 day simple moving average is $242.19 and its 200 day simple moving average is $257.64.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share 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%. On average, research analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 0.67%. The ex-dividend date of this dividend 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 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.