TAP Consulting LLC Has $2.93 Million Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

TAP Consulting LLC cut its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in RNR. SBI Securities Co. Ltd. acquired a new stake in shares of RenaissanceRe in the 4th quarter valued at $29,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of RenaissanceRe by 51.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 41 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of RenaissanceRe by 1,587.5% during the 4th quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 127 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of RenaissanceRe by 71.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 65 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in 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 purchasing an additional 50 shares during the last quarter. 99.97% of the stock is owned by institutional investors.

RenaissanceRe Stock Performance

Shares of NYSE RNR opened at $240.88 on Thursday. RenaissanceRe Holdings Ltd. has a one year low of $208.98 and a one year 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. The business has a fifty day simple moving average of $241.62 and a 200 day simple moving average of $257.35. The firm has a market capitalization of $11.86 billion, a price-to-earnings ratio of 6.88, a PEG ratio of 2.09 and a beta of 0.38.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 EPS for the quarter, topping analysts’ consensus estimates of $6.94 by $1.12. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. Sell-side analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 dividend yield of 0.66%. The ex-dividend date of this dividend is Friday, March 14th. RenaissanceRe’s dividend payout ratio is currently 4.57%.

Insider Transactions at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was 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 $20,178,270.72. This represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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