RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lessened its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 0.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 179,821 shares of the insurance provider’s stock after selling 946 shares during the period. Legal & General Group Plc’s holdings in RenaissanceRe were worth $44,741,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in RenaissanceRe in the fourth quarter valued at $173,530,000. Boston Partners boosted its holdings in RenaissanceRe by 28.5% during the fourth 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. Geode Capital Management LLC grew its holdings in shares of RenaissanceRe by 24.3% in the 4th quarter. Geode Capital Management LLC now owns 1,144,805 shares of the insurance provider’s stock worth $284,907,000 after acquiring an additional 223,991 shares during the period. Impax Asset Management Group plc boosted its position in 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 worth $466,969,000 after purchasing an additional 182,530 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in RenaissanceRe by 13.0% in the fourth quarter. Invesco Ltd. now owns 821,111 shares of the insurance provider’s stock valued at $204,301,000 after purchasing an additional 94,389 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RNR. Wells Fargo & Company lowered their price target on shares of RenaissanceRe from $277.00 to $271.00 and set an “overweight” rating on the stock in a research report on Thursday. Morgan Stanley cut their price target on RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. JMP Securities reaffirmed a “market perform” rating on shares of RenaissanceRe in a research note on Thursday, January 30th. JPMorgan Chase & Co. raised shares of RenaissanceRe from a “neutral” rating to an “overweight” rating and set a $284.00 target price for the company in a research note on Tuesday, April 8th. Finally, Bank of America decreased their price target on shares of RenaissanceRe from $437.00 to $426.00 and set a “buy” rating on the stock in a research note on Wednesday, March 26th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $280.80.

Insider Buying and Selling

In related news, EVP David E. Marra sold 1,000 shares of RenaissanceRe 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 approximately $20,178,270.72. The trade was a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.00% of the company’s stock.

RenaissanceRe Stock Up 2.5 %

Shares of NYSE RNR opened at $237.92 on Friday. The stock has a fifty day moving average price of $236.93 and a 200 day moving average price of $254.44. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19. RenaissanceRe Holdings Ltd. has a 12-month low of $208.98 and a 12-month high of $300.00. The company has a market cap of $11.66 billion, a P/E ratio of 6.79, a P/E/G ratio of 2.09 and a beta of 0.29.

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

RenaissanceRe Increases Dividend

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

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.