Steward Partners Investment Advisory LLC Buys 299 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Steward Partners Investment Advisory LLC increased its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 4.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,441 shares of the insurance provider’s stock after buying an additional 299 shares during the period. Steward Partners Investment Advisory LLC’s holdings in RenaissanceRe were worth $1,603,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Impax Asset Management Group plc boosted its holdings in shares of RenaissanceRe by 10.8% during the 4th quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider’s stock worth $466,969,000 after buying an additional 182,530 shares during the period. Geode Capital Management LLC boosted its holdings in shares of RenaissanceRe by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider’s stock worth $250,892,000 after buying an additional 25,773 shares during the period. Nepsis Inc. boosted its holdings in shares of RenaissanceRe by 32.9% during the 4th quarter. Nepsis Inc. now owns 128,983 shares of the insurance provider’s stock worth $32,092,000 after buying an additional 31,915 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of RenaissanceRe by 3.4% during the 4th quarter. Fisher Asset Management LLC now owns 83,483 shares of the insurance provider’s stock worth $20,771,000 after buying an additional 2,710 shares during the period. Finally, Assetmark Inc. boosted its holdings in shares of RenaissanceRe by 115.3% during the 3rd quarter. Assetmark Inc. now owns 81,006 shares of the insurance provider’s stock worth $22,066,000 after buying an additional 43,384 shares during the period. Institutional investors own 99.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on RNR shares. Keefe, Bruyette & Woods reduced their target price on shares of RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a report on Tuesday, February 4th. Jefferies Financial Group reiterated 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. Morgan Stanley dropped 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. Wells Fargo & Company dropped 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. Finally, Barclays cut shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $284.00 to $234.00 in a research note on Monday, January 6th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $279.90.

Insider Buying and Selling

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 shares were sold at an average price of $254.16, for a total transaction of $254,160.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is owned by corporate insiders.

RenaissanceRe Price Performance

Shares of NYSE:RNR opened at $243.81 on Friday. The firm has a 50 day moving average of $243.31 and a 200-day moving average of $258.01. The stock has a market capitalization of $12.01 billion, a PE ratio of 6.96, a PEG ratio of 2.09 and a beta of 0.38. 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 Holdings Ltd. has a 12 month low of $208.98 and a 12 month high of $300.00.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (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%. On average, equities research analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a 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 is currently 4.57%.

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.