Mitsubishi UFJ Trust & Banking Corp Purchases Shares of 4,729 RenaissanceRe Holdings Ltd. (NYSE:RNR)

Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 4,729 shares of the insurance provider’s stock, valued at approximately $1,177,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RNR. MassMutual Private Wealth & Trust FSB raised its stake in RenaissanceRe by 51.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 41 shares in the last quarter. UMB Bank n.a. raised its stake in shares of RenaissanceRe by 40.0% during the fourth quarter. UMB Bank n.a. now owns 175 shares of the insurance provider’s stock valued at $44,000 after purchasing an additional 50 shares in the last quarter. Lifestyle Asset Management Inc. lifted its holdings in RenaissanceRe by 1.1% in the fourth 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. AMG National Trust Bank grew its position in RenaissanceRe by 1.3% in the 4th quarter. AMG National Trust Bank now owns 4,688 shares of the insurance provider’s stock valued at $1,166,000 after buying an additional 59 shares in the last quarter. Finally, Principal Securities Inc. increased its stake in RenaissanceRe by 11.9% during the 4th quarter. Principal Securities Inc. now owns 565 shares of the insurance provider’s stock valued at $141,000 after buying an additional 60 shares during the period. 99.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RNR has been the subject of a number of research analyst reports. Jefferies Financial Group reaffirmed a “hold” rating and issued a $282.00 price target (down from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. Bank of America decreased their price target on RenaissanceRe from $437.00 to $426.00 and set a “buy” rating for the company in a research note on Wednesday, March 26th. Wells Fargo & Company dropped their price objective on RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. JMP Securities reaffirmed a “market perform” rating on shares of RenaissanceRe in a research note on Thursday, January 30th. Finally, Barclays cut shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $284.00 to $234.00 in a research report on Monday, January 6th. 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’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $283.40.

Insider Activity

In related news, EVP David E. Marra sold 1,000 shares of the business’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 transaction, the executive vice president now directly owns 79,392 shares of the company’s stock, valued at approximately $20,178,270.72. The trade was a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.30% of the stock is owned by corporate insiders.

RenaissanceRe Stock Performance

RenaissanceRe stock opened at $245.09 on Wednesday. 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 company has a market cap of $12.01 billion, a P/E ratio of 7.00, a price-to-earnings-growth ratio of 2.09 and a beta of 0.38. RenaissanceRe Holdings Ltd. has a fifty-two week low of $208.98 and a fifty-two week high of $300.00. The firm’s 50 day simple moving average is $239.17 and its 200-day simple moving average is $256.34.

RenaissanceRe (NYSE:RNR) last released its earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) 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%. As a group, equities research analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.65%. The ex-dividend date was Friday, March 14th. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s payout ratio is 4.57%.

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.