TAP Consulting LLC Sells 364 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

TAP Consulting LLC decreased its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,763 shares of the insurance provider’s stock after selling 364 shares during the quarter. TAP Consulting LLC’s holdings in RenaissanceRe were worth $2,927,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of RNR. Impax Asset Management Group plc lifted its position in RenaissanceRe by 10.8% during the 4th quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider’s stock worth $466,969,000 after buying an additional 182,530 shares in the last quarter. Rockefeller Capital Management L.P. bought a new position in shares of RenaissanceRe in the third quarter worth about $3,684,000. Fisher Asset Management LLC lifted its position in shares of RenaissanceRe by 12.3% during the third quarter. Fisher Asset Management LLC now owns 80,773 shares of the insurance provider’s stock worth $22,003,000 after purchasing an additional 8,844 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of RenaissanceRe by 2.9% during the third quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider’s stock valued at $250,892,000 after purchasing an additional 25,773 shares during the last quarter. Finally, Citigroup Inc. increased its holdings in shares of RenaissanceRe by 367.4% in the third quarter. Citigroup Inc. now owns 30,476 shares of the insurance provider’s stock valued at $8,302,000 after purchasing an additional 23,956 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

Insider Activity

In other RenaissanceRe 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 transaction 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. This trade represents a 1.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by company insiders.

RenaissanceRe Stock Up 0.1 %

Shares of NYSE RNR opened at $240.88 on Thursday. RenaissanceRe Holdings Ltd. has a 52-week low of $208.98 and a 52-week high of $300.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42. The stock has a market cap of $11.86 billion, a P/E ratio of 6.88, a P/E/G ratio of 2.09 and a beta of 0.38. The firm has a 50 day moving average price of $241.62 and a 200 day moving average price of $257.35.

RenaissanceRe (NYSE:RNR) last announced 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%. Analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.40 per share. 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%. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s dividend payout ratio (DPR) is currently 4.57%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Wells Fargo & Company reduced their price objective on RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. JMP Securities reaffirmed a “market perform” rating on shares of RenaissanceRe in a research note on Thursday, January 30th. Keefe, Bruyette & Woods lowered their price objective on RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a research report on Tuesday, February 4th. Morgan Stanley cut 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 report on Friday, January 31st. Finally, JPMorgan Chase & Co. lifted their price target on shares of RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a research report on Friday, January 3rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, RenaissanceRe presently has a consensus rating of “Hold” and an average target price of $279.90.

RenaissanceRe 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.