Catalyst Funds Management Pty Ltd Has $796,000 Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Catalyst Funds Management Pty Ltd lifted its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 966.7% during the 4th quarter, Holdings Channel reports. The fund owned 3,200 shares of the insurance provider’s stock after acquiring an additional 2,900 shares during the quarter. Catalyst Funds Management Pty Ltd’s holdings in RenaissanceRe were worth $796,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Impax Asset Management Group plc boosted its holdings in shares of RenaissanceRe by 10.8% in the 4th quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider’s stock worth $466,969,000 after acquiring an additional 182,530 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in shares of RenaissanceRe in the 3rd quarter worth approximately $3,684,000. Fisher Asset Management LLC boosted its holdings in shares of RenaissanceRe by 12.3% in the 3rd 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 in the last quarter. Geode Capital Management LLC boosted its holdings in shares of RenaissanceRe by 2.9% in the 3rd 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 in the last quarter. Finally, Citigroup Inc. boosted its holdings in shares of RenaissanceRe by 367.4% in the 3rd quarter. Citigroup Inc. now owns 30,476 shares of the insurance provider’s stock worth $8,302,000 after acquiring an additional 23,956 shares in the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

RenaissanceRe Stock Performance

RNR stock opened at $239.63 on Friday. The business’s fifty day moving average is $242.19 and its 200-day moving average is $257.59. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. The company has a market cap of $11.80 billion, a P/E ratio of 6.84, a price-to-earnings-growth ratio of 2.09 and a beta of 0.38. RenaissanceRe Holdings Ltd. has a twelve month low of $208.98 and a twelve month high of $300.00.

RenaissanceRe (NYSE:RNR) last posted its quarterly 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%. Equities research analysts forecast 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. Investors of record on Friday, March 14th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.67%. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s dividend payout ratio is currently 4.57%.

Insider Activity at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total value of $254,160.00. Following the completion of the sale, the executive vice president now owns 79,392 shares in the company, valued at $20,178,270.72. This represents a 1.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RNR. JPMorgan Chase & Co. upped their price objective on RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a report on Friday, January 3rd. Morgan Stanley reduced their price objective on RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Barclays downgraded RenaissanceRe from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $284.00 to $234.00 in a report on Monday, January 6th. Jefferies Financial Group reaffirmed a “hold” rating and set a $282.00 price objective (down previously from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of RenaissanceRe in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $279.90.

About RenaissanceRe

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.