Pictet Asset Management Holding SA Buys 610 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Pictet Asset Management Holding SA grew its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 9.1% during the 4th quarter, HoldingsChannel reports. The firm owned 7,300 shares of the insurance provider’s stock after purchasing an additional 610 shares during the quarter. Pictet Asset Management Holding SA’s holdings in RenaissanceRe were worth $1,816,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in shares of RenaissanceRe during the fourth quarter worth about $29,000. MassMutual Private Wealth & Trust FSB raised its holdings in RenaissanceRe by 51.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock worth $30,000 after buying an additional 41 shares during the period. Jones Financial Companies Lllp lifted its stake in RenaissanceRe by 1,587.5% in the fourth quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider’s stock valued at $34,000 after buying an additional 127 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of RenaissanceRe by 71.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider’s stock valued at $39,000 after buying an additional 65 shares during the period. Finally, UMB Bank n.a. increased its position 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 worth $44,000 after acquiring an additional 50 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

RenaissanceRe Price Performance

NYSE:RNR opened at $233.04 on Friday. The firm’s fifty day moving average price is $238.43 and its two-hundred day moving average price is $255.98. 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 $11.42 billion, a P/E ratio of 6.65, a P/E/G ratio of 2.09 and a beta of 0.29. RenaissanceRe Holdings Ltd. has a one year low of $208.98 and a one year high of $300.00.

RenaissanceRe (NYSE:RNR) last issued 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 return on equity of 23.41% and a net margin of 15.99%. Equities analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.69%. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s dividend payout ratio (DPR) is currently 4.57%.

Insider Activity

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction dated 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. The trade was a 1.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in 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 for the company in a research note on Friday, January 31st. Barclays cut 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 research report on Monday, January 6th. Keefe, Bruyette & Woods dropped their target price on RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 4th. Bank of America decreased their price target on shares of RenaissanceRe from $437.00 to $426.00 and set a “buy” rating for the company in a research note on Wednesday, March 26th. Finally, JMP Securities reissued a “market perform” rating on shares of RenaissanceRe in a research 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 company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $283.40.

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.