Sei Investments Co. Has $45.74 Million Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Sei Investments Co. lifted its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 19.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 183,835 shares of the insurance provider’s stock after purchasing an additional 29,974 shares during the period. Sei Investments Co.’s holdings in RenaissanceRe were worth $45,744,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of RNR. Boston Partners lifted its holdings in RenaissanceRe by 28.5% during the 4th quarter. Boston Partners now owns 2,013,382 shares of the insurance provider’s stock worth $500,991,000 after buying an additional 446,781 shares in the last quarter. Impax Asset Management Group plc lifted its stake in shares of RenaissanceRe by 10.8% during 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 period. Philadelphia Financial Management of San Francisco LLC bought a new position in RenaissanceRe in the third quarter valued at about $18,969,000. Northwest & Ethical Investments L.P. acquired a new stake in RenaissanceRe in the third quarter worth about $17,086,000. Finally, World Investment Advisors LLC bought a new stake in RenaissanceRe during the 3rd quarter worth about $16,176,000. 99.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Morgan Stanley reduced their target price on shares of RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. JPMorgan Chase & Co. upped their target price on shares of RenaissanceRe from $280.00 to $284.00 and gave the company a “neutral” rating in a research report on Friday, January 3rd. JMP Securities restated a “market perform” rating on shares of RenaissanceRe in a research report on Thursday, January 30th. Keefe, Bruyette & Woods dropped their price objective on RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a report on Tuesday, February 4th. Finally, Jefferies Financial Group restated a “hold” rating and set a $282.00 target price (down previously from $304.00) on shares of RenaissanceRe in a report 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $279.90.

RenaissanceRe Trading Up 1.4 %

NYSE RNR opened at $239.71 on Tuesday. RenaissanceRe Holdings Ltd. has a one year low of $208.98 and a one year high of $300.00. 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 firm has a market cap of $11.81 billion, a P/E ratio of 6.85, a P/E/G ratio of 2.09 and a beta of 0.38. The stock’s 50-day moving average is $240.74 and its 200-day moving average is $256.92.

RenaissanceRe (NYSE:RNR) last announced its earnings results on Tuesday, January 28th. The insurance provider reported $8.06 EPS for the quarter, topping the consensus estimate of $6.94 by $1.12. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. Sell-side analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.40 dividend. The ex-dividend date is Friday, March 14th. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a yield of 0.67%. RenaissanceRe’s dividend payout ratio is presently 4.57%.

Insiders Place Their Bets

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

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.