1,203 Shares in RenaissanceRe Holdings Ltd. (NYSE:RNR) Acquired by Blueshift Asset Management LLC

Blueshift Asset Management LLC purchased a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,203 shares of the insurance provider’s stock, valued at approximately $299,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Magnetar Financial LLC acquired a new stake in RenaissanceRe during the 4th quarter worth $3,039,000. Teacher Retirement System of Texas grew its holdings in shares of RenaissanceRe by 40.2% during the fourth quarter. Teacher Retirement System of Texas now owns 12,249 shares of the insurance provider’s stock worth $3,048,000 after purchasing an additional 3,510 shares during the last quarter. Xponance Inc. increased its position in shares of RenaissanceRe by 7.1% during the fourth quarter. Xponance Inc. now owns 6,067 shares of the insurance provider’s stock worth $1,510,000 after purchasing an additional 402 shares in the last quarter. Boston Partners lifted its holdings in shares of RenaissanceRe by 28.5% in the 4th quarter. Boston Partners now owns 2,013,382 shares of the insurance provider’s stock valued at $500,991,000 after purchasing an additional 446,781 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its position in shares of RenaissanceRe by 19.9% in the 4th quarter. Corient Private Wealth LLC now owns 9,247 shares of the insurance provider’s stock valued at $2,299,000 after purchasing an additional 1,532 shares during the period. Institutional investors and hedge funds own 99.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on RNR. Jefferies Financial Group reaffirmed a “hold” rating and set a $282.00 price target (down previously from $304.00) on shares of RenaissanceRe in a research report on Wednesday, December 18th. JMP Securities reaffirmed a “market perform” rating on shares of RenaissanceRe in a report on Thursday, January 30th. Barclays cut shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $284.00 to $234.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods dropped their price objective on shares of RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company decreased their target price on shares of RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $279.90.

RenaissanceRe Stock Performance

NYSE RNR opened at $236.75 on Friday. The stock has a market capitalization of $11.66 billion, a price-to-earnings ratio of 6.76, a PEG ratio of 2.09 and a beta of 0.38. The business’s 50 day moving average is $241.01 and its two-hundred day moving average is $257.08. RenaissanceRe Holdings Ltd. has a 12-month low of $208.98 and a 12-month high of $300.00. 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 (NYSE:RNR) last announced its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share 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%. Research analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Friday, March 14th. 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 at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the 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 transaction, the executive vice president now directly 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.

About RenaissanceRe

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.