AMG National Trust Bank Acquires 59 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

AMG National Trust Bank increased its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 1.3% in the 4th quarter, Holdings Channel reports. The fund owned 4,688 shares of the insurance provider’s stock after buying an additional 59 shares during the quarter. AMG National Trust Bank’s holdings in RenaissanceRe were worth $1,166,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of RNR. Impax Asset Management Group plc increased its stake in shares of RenaissanceRe by 32.4% in the 3rd quarter. Impax Asset Management Group plc now owns 1,697,636 shares of the insurance provider’s stock worth $461,679,000 after acquiring an additional 415,366 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC bought a new position in shares of RenaissanceRe in the 3rd quarter worth about $18,969,000. Northwest & Ethical Investments L.P. bought a new position in shares of RenaissanceRe in the 3rd quarter worth about $17,086,000. World Investment Advisors LLC bought a new stake in RenaissanceRe during the 3rd quarter valued at about $16,176,000. Finally, Assetmark Inc. increased its stake in RenaissanceRe by 115.3% during the 3rd quarter. Assetmark Inc. now owns 81,006 shares of the insurance provider’s stock valued at $22,066,000 after purchasing an additional 43,384 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors.

RenaissanceRe Stock Performance

Shares of RNR stock opened at $243.81 on Friday. The company has a 50 day moving average price of $243.45 and a 200-day moving average price of $257.92. RenaissanceRe Holdings Ltd. has a 52 week low of $208.98 and a 52 week high of $300.00. The firm has a market capitalization of $12.01 billion, a PE ratio of 6.96, a P/E/G ratio of 2.09 and a beta of 0.38. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19.

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%. As a group, equities research analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.40 dividend. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.66%. RenaissanceRe’s dividend payout ratio (DPR) is presently 4.57%.

Insider Buying and Selling

In related news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 79,392 shares of the company’s stock, valued at approximately $20,178,270.72. This trade represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

RNR has been the subject of a number of analyst reports. Jefferies Financial Group restated a “hold” rating and set a $282.00 price objective (down from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. Keefe, Bruyette & Woods reduced their price objective on shares of RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a research note on Tuesday, February 4th. JMP Securities restated a “market perform” rating on shares of RenaissanceRe in a research note on Thursday, January 30th. Barclays lowered shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $284.00 to $234.00 in a research note on Monday, January 6th. Finally, Morgan Stanley reduced their price objective 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. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $279.90.

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.