Wilmington Savings Fund Society FSB Has $349,000 Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Wilmington Savings Fund Society FSB trimmed its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 5.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,403 shares of the insurance provider’s stock after selling 85 shares during the period. Wilmington Savings Fund Society FSB’s holdings in RenaissanceRe were worth $349,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sanctuary Advisors LLC acquired a new position in RenaissanceRe during the 2nd quarter worth approximately $229,000. UMB Bank n.a. lifted its position in shares of RenaissanceRe by 316.7% in the third quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 95 shares in the last quarter. Carnegie Investment Counsel acquired a new position in RenaissanceRe during the third quarter worth $218,000. ORG Wealth Partners LLC acquired a new position in RenaissanceRe during the third quarter worth $30,000. Finally, Creative Planning grew its position in RenaissanceRe by 71.8% in the third quarter. Creative Planning now owns 2,383 shares of the insurance provider’s stock valued at $649,000 after purchasing an additional 996 shares in the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RNR has been the subject of a number of recent research reports. StockNews.com downgraded shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company reduced their price target on RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Morgan Stanley lowered their price target on RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Barclays downgraded RenaissanceRe from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $284.00 to $234.00 in a report on Monday, January 6th. Finally, JMP Securities restated a “market perform” rating on shares of RenaissanceRe in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $279.90.

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 transaction, the executive vice president now directly owns 79,392 shares of the company’s stock, valued at $20,178,270.72. This represents a 1.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by corporate insiders.

RenaissanceRe Trading Up 0.5 %

RNR stock opened at $235.19 on Wednesday. RenaissanceRe Holdings Ltd. has a one year low of $208.98 and a one year high of $300.00. The stock has a market cap of $12.22 billion, a price-to-earnings ratio of 6.72, a price-to-earnings-growth ratio of 1.91 and a beta of 0.43. The company has a fifty day moving average price of $252.96 and a two-hundred day moving average price of $258.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.43.

RenaissanceRe (NYSE:RNR) last announced 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%. Equities analysts anticipate that RenaissanceRe Holdings Ltd. will post 29.92 EPS for the current year.

RenaissanceRe Increases Dividend

The company 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 is an increase from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. This represents a $1.60 annualized dividend and a dividend yield of 0.68%. RenaissanceRe’s dividend payout ratio is presently 4.45%.

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.