Federated Hermes Inc. Sells 265 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Federated Hermes Inc. decreased its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 5.6% during the 4th quarter, Holdings Channel reports. The firm owned 4,492 shares of the insurance provider’s stock after selling 265 shares during the quarter. Federated Hermes Inc.’s holdings in RenaissanceRe were worth $1,118,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Impax Asset Management Group plc raised its stake 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 acquiring an additional 182,530 shares during the last quarter. World Investment Advisors LLC bought a new position in shares of RenaissanceRe in the third quarter valued at about $16,176,000. Barclays PLC lifted its position in RenaissanceRe by 57.1% during the 3rd quarter. Barclays PLC now owns 22,923 shares of the insurance provider’s stock worth $6,244,000 after buying an additional 8,333 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in RenaissanceRe during the 4th quarter worth about $7,986,000. Finally, Davis Selected Advisers raised its stake in shares of RenaissanceRe by 0.8% in the fourth quarter. Davis Selected Advisers now owns 142,313 shares of the insurance provider’s stock worth $35,409,000 after acquiring an additional 1,099 shares during the last quarter. 99.97% of the stock is owned by institutional investors.

Insider Activity

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total transaction of $254,160.00. Following the sale, the executive vice president now directly owns 79,392 shares in the company, valued at approximately $20,178,270.72. This trade represents a 1.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by company insiders.

RenaissanceRe Stock Up 0.9 %

RenaissanceRe stock opened at $240.10 on Tuesday. The firm has a market capitalization of $11.77 billion, a price-to-earnings ratio of 6.86, a PEG ratio of 2.09 and a beta of 0.29. The company’s 50 day simple moving average is $237.05 and its 200 day simple moving average is $254.13. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42. RenaissanceRe Holdings Ltd. has a fifty-two week low of $208.98 and a fifty-two week high of $300.00.

RenaissanceRe (NYSE:RNR) last announced 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%. As a group, sell-side analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.40 per share. The ex-dividend date was Friday, March 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.67%. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s dividend payout ratio (DPR) is currently 4.57%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on RNR shares. Wells Fargo & Company decreased their price target on shares of RenaissanceRe from $277.00 to $271.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. JMP Securities restated a “market perform” rating on shares of RenaissanceRe in a research report on Thursday, January 30th. Bank of America decreased their price target on RenaissanceRe from $437.00 to $426.00 and set a “buy” rating on the stock in a report on Wednesday, March 26th. JPMorgan Chase & Co. raised RenaissanceRe from a “neutral” rating to an “overweight” rating and set a $284.00 price objective for the company in a report on Tuesday, April 8th. Finally, Jefferies Financial Group reduced their target price on shares of RenaissanceRe from $266.00 to $265.00 and set a “hold” rating on the stock in a research note on Friday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $280.80.

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.