Mutual of America Capital Management LLC Sells 751 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Mutual of America Capital Management LLC trimmed its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,437 shares of the insurance provider’s stock after selling 751 shares during the period. Mutual of America Capital Management LLC owned approximately 0.05% of RenaissanceRe worth $6,827,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of 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 purchasing an additional 41 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of RenaissanceRe by 40.0% in the fourth quarter. UMB Bank n.a. now owns 175 shares of the insurance provider’s stock valued at $44,000 after purchasing an additional 50 shares in the last quarter. Advisors Asset Management Inc. bought a new stake in shares of RenaissanceRe in the third quarter valued at about $45,000. ORG Wealth Partners LLC lifted its holdings in shares of RenaissanceRe by 129.4% in the fourth quarter. ORG Wealth Partners LLC now owns 250 shares of the insurance provider’s stock valued at $62,000 after purchasing an additional 141 shares in the last quarter. Finally, LRI Investments LLC lifted its holdings in shares of RenaissanceRe by 668.8% in the third quarter. LRI Investments LLC now owns 246 shares of the insurance provider’s stock valued at $63,000 after purchasing an additional 214 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RNR. JMP Securities restated a “market perform” rating on shares of RenaissanceRe in a report on Thursday, January 30th. Wells Fargo & Company dropped their target price on RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Jefferies Financial Group reiterated a “hold” rating and set a $282.00 target price (down previously from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. JPMorgan Chase & Co. upped their target price on RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a report on Friday, January 3rd. Finally, Keefe, Bruyette & Woods dropped their target price on RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating on the stock in a report on Tuesday, February 4th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, RenaissanceRe has an average rating of “Hold” and a consensus target price of $279.90.

Insider Activity

In related news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total transaction of $254,160.00. Following 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 represents a 1.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by company insiders.

RenaissanceRe Price Performance

Shares of NYSE RNR opened at $237.63 on Monday. The company has a market cap of $11.70 billion, a PE ratio of 6.79, a price-to-earnings-growth ratio of 2.09 and a beta of 0.43. The business’s 50 day moving average price is $244.00 and its two-hundred day moving average price is $258.08. 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 Holdings Ltd. has a twelve month low of $208.98 and a twelve month high of $300.00.

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, 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%. On average, analysts predict 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. Shareholders of record on Friday, March 14th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s payout ratio is 4.57%.

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.