Venturi Wealth Management LLC Has $251,000 Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Venturi Wealth Management LLC boosted its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 2,420.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,008 shares of the insurance provider’s stock after buying an additional 968 shares during the period. Venturi Wealth Management LLC’s holdings in RenaissanceRe were worth $251,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Impax Asset Management Group plc grew its stake in RenaissanceRe by 32.4% during the third quarter. Impax Asset Management Group plc now owns 1,697,636 shares of the insurance provider’s stock worth $461,679,000 after buying an additional 415,366 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of RenaissanceRe by 2.9% in the third quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider’s stock worth $250,892,000 after acquiring an additional 25,773 shares during the last quarter. Nepsis Inc. lifted its holdings in shares of RenaissanceRe by 32.9% in the fourth quarter. Nepsis Inc. now owns 128,983 shares of the insurance provider’s stock worth $32,092,000 after acquiring an additional 31,915 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of RenaissanceRe by 115.3% in the third quarter. Assetmark Inc. now owns 81,006 shares of the insurance provider’s stock worth $22,066,000 after acquiring an additional 43,384 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of RenaissanceRe by 12.3% in the third quarter. Fisher Asset Management LLC now owns 80,773 shares of the insurance provider’s stock worth $22,003,000 after acquiring an additional 8,844 shares during the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on RNR shares. JMP Securities reissued a “market perform” rating on shares of RenaissanceRe in a report on Thursday, January 30th. Barclays cut shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $284.00 to $234.00 in a report on Monday, January 6th. Morgan Stanley dropped their target price on shares of RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Evercore ISI increased their target price on shares of RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, RenaissanceRe has an average rating of “Hold” and an average price target of $279.90.

Insiders Place Their Bets

In other news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction on Wednesday, January 15th. The stock was 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 $20,178,270.72. The trade was a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

RenaissanceRe Stock Down 1.0 %

RenaissanceRe stock opened at $226.53 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a market cap of $11.16 billion, a price-to-earnings ratio of 6.47, a PEG ratio of 2.10 and a beta of 0.43. The firm has a 50 day moving average price of $245.82 and a two-hundred day moving average price of $257.72. 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 data on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) 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%. Equities analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.71%. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. RenaissanceRe’s payout ratio is currently 4.45%.

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.