RNC Capital Management LLC Trims Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

RNC Capital Management LLC decreased its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 5.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,579 shares of the insurance provider’s stock after selling 877 shares during the quarter. RNC Capital Management LLC’s holdings in RenaissanceRe were worth $3,627,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC boosted its position in RenaissanceRe by 29.5% in the 3rd quarter. V Square Quantitative Management LLC now owns 180 shares of the insurance provider’s stock valued at $49,000 after buying an additional 41 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in shares of RenaissanceRe by 51.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 41 shares during the period. First Citizens Bank & Trust Co. lifted its position in shares of RenaissanceRe by 4.6% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 1,073 shares of the insurance provider’s stock worth $292,000 after purchasing an additional 47 shares during the period. UMB Bank n.a. lifted its position in shares of 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 purchasing an additional 50 shares during the period. Finally, Lifestyle Asset Management Inc. lifted its position in shares of RenaissanceRe by 1.1% in the 4th quarter. Lifestyle Asset Management Inc. now owns 4,645 shares of the insurance provider’s stock worth $1,156,000 after purchasing an additional 52 shares during the period. 99.97% of the stock is owned by hedge funds and other institutional investors.

RenaissanceRe Stock Up 2.8 %

NYSE:RNR opened at $240.59 on Friday. The firm has a market capitalization of $12.50 billion, a P/E ratio of 6.87, a PEG ratio of 1.65 and a beta of 0.43. RenaissanceRe Holdings Ltd. has a 1-year low of $208.98 and a 1-year high of $300.00. The company’s fifty day moving average price is $255.99 and its 200-day moving average price is $257.38. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.43.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings data 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, equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 33.43 EPS for the current year.

RenaissanceRe Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend 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 (DPR) is currently 4.45%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. StockNews.com cut shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Evercore ISI increased their target price on shares of RenaissanceRe from $229.00 to $246.00 and gave the company an “underperform” rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods decreased their target price on shares of RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a research report on Tuesday. JMP Securities restated a “market perform” rating on shares of RenaissanceRe in a research note on Thursday, January 30th. Finally, Jefferies Financial Group restated a “hold” rating and set a $282.00 price target (down previously from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, RenaissanceRe presently has a consensus rating of “Hold” and an average target price of $279.90.

Insider Activity at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction 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 owns 79,392 shares in the company, valued at approximately $20,178,270.72. This trade represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is owned by company insiders.

RenaissanceRe 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.