AMG National Trust Bank Increases Stock Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

AMG National Trust Bank lifted its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 1.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of RNR. MassMutual Private Wealth & Trust FSB increased its holdings in shares of RenaissanceRe by 51.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock worth $30,000 after buying an additional 41 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of RenaissanceRe by 40.0% in the 4th quarter. UMB Bank n.a. now owns 175 shares of the insurance provider’s stock worth $44,000 after buying an additional 50 shares during the last quarter. Lifestyle Asset Management Inc. increased its holdings in shares of RenaissanceRe by 1.1% in the 4th quarter. Lifestyle Asset Management Inc. now owns 4,645 shares of the insurance provider’s stock worth $1,156,000 after buying an additional 52 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of RenaissanceRe by 3.6% in the 3rd quarter. CIBC Asset Management Inc now owns 1,530 shares of the insurance provider’s stock worth $417,000 after buying an additional 53 shares during the last quarter. Finally, Principal Securities Inc. increased its holdings in shares of RenaissanceRe by 11.9% in the 4th quarter. Principal Securities Inc. now owns 565 shares of the insurance provider’s stock worth $141,000 after buying an additional 60 shares during the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the firm’s 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.80% of the company’s stock.

RenaissanceRe Trading Up 0.3 %

Shares of RNR opened at $243.81 on Friday. The stock has a market capitalization of $12.01 billion, a P/E ratio of 6.96, a PEG 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. The firm has a fifty day simple moving average of $243.45 and a two-hundred day simple moving average of $257.92. RenaissanceRe Holdings Ltd. has a twelve month low of $208.98 and a twelve month high of $300.00.

RenaissanceRe (NYSE:RNR) last posted its earnings results on Tuesday, January 28th. The insurance provider reported $8.06 EPS for the quarter, topping 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%. On average, research analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.66%. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. RenaissanceRe’s dividend payout ratio (DPR) is currently 4.57%.

Analyst Ratings Changes

RNR has been the topic of a number of research analyst reports. Barclays lowered 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 report on Monday, January 6th. Wells Fargo & Company cut their price objective 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. JPMorgan Chase & Co. upped their price objective on shares of RenaissanceRe from $280.00 to $284.00 and gave the company a “neutral” rating in a research note on Friday, January 3rd. Morgan Stanley cut 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. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $282.00 price objective (down previously from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. Two investment 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.