Swiss National Bank Sells 700 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Swiss National Bank cut its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 102,600 shares of the insurance provider’s stock after selling 700 shares during the quarter. Swiss National Bank owned about 0.20% of RenaissanceRe worth $25,528,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB boosted its stake in RenaissanceRe by 51.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 41 shares during the last quarter. UMB Bank n.a. boosted 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 purchasing an additional 50 shares in the last quarter. Lifestyle Asset Management Inc. boosted its position in shares of RenaissanceRe by 1.1% during the fourth quarter. Lifestyle Asset Management Inc. now owns 4,645 shares of the insurance provider’s stock worth $1,156,000 after purchasing an additional 52 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of RenaissanceRe by 3.6% during the third quarter. CIBC Asset Management Inc now owns 1,530 shares of the insurance provider’s stock worth $417,000 after purchasing an additional 53 shares in the last quarter. Finally, AMG National Trust Bank boosted its position in shares of RenaissanceRe by 1.3% during the fourth quarter. AMG National Trust Bank now owns 4,688 shares of the insurance provider’s stock worth $1,166,000 after purchasing an additional 59 shares in the last quarter. 99.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RNR. Barclays cut shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $284.00 to $234.00 in a research report on Monday, January 6th. JMP Securities reissued a “market perform” rating on shares of RenaissanceRe in a research report on Thursday, January 30th. Morgan Stanley reduced their price target on shares of RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Keefe, Bruyette & Woods reduced their price target on shares of RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. boosted their price objective 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. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $279.90.

Insider Buying and Selling at RenaissanceRe

In other RenaissanceRe 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 sale, the executive vice president now directly owns 79,392 shares in the company, valued at approximately $20,178,270.72. The trade was a 1.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.30% of the company’s stock.

RenaissanceRe Trading Up 2.4 %

RNR opened at $245.35 on Tuesday. 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 firm’s fifty day simple moving average is $242.13 and its 200 day simple moving average is $257.56. The stock has a market capitalization of $12.08 billion, a P/E ratio of 7.01, a P/E/G ratio of 2.09 and a beta of 0.38.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.40 dividend. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is 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.