Swiss National Bank Has $25.53 Million Stock Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Swiss National Bank cut its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 102,600 shares of the insurance provider’s stock after selling 700 shares during the period. Swiss National Bank’s holdings in RenaissanceRe were worth $25,528,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of RenaissanceRe during the 4th quarter worth about $4,290,000. Avantax Advisory Services Inc. grew its stake in RenaissanceRe by 5.9% in the 4th quarter. Avantax Advisory Services Inc. now owns 2,404 shares of the insurance provider’s stock valued at $598,000 after buying an additional 133 shares during the last quarter. Independent Advisor Alliance grew its stake in RenaissanceRe by 7.7% in the 4th quarter. Independent Advisor Alliance now owns 864 shares of the insurance provider’s stock valued at $215,000 after buying an additional 62 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in RenaissanceRe by 15.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,418 shares of the insurance provider’s stock valued at $3,339,000 after buying an additional 1,766 shares during the last quarter. Finally, Davis Selected Advisers grew its stake in RenaissanceRe by 0.8% in the 4th quarter. Davis Selected Advisers now owns 142,313 shares of the insurance provider’s stock valued at $35,409,000 after buying an additional 1,099 shares during the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.

RenaissanceRe Stock Performance

Shares of RenaissanceRe stock opened at $245.35 on Tuesday. The company has a 50 day moving average of $242.13 and a 200-day moving average of $257.56. RenaissanceRe Holdings Ltd. has a 1-year low of $208.98 and a 1-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 company has a market cap of $12.08 billion, a PE ratio of 7.01, a price-to-earnings-growth ratio of 2.09 and a beta of 0.38.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share 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%. As a group, equities research analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share 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 0.65%. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 14th. RenaissanceRe’s dividend payout ratio is currently 4.57%.

Insider Buying and Selling

In other RenaissanceRe 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 value 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 approximately $20,178,270.72. This represents a 1.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target 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 decreased their price target on shares of RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Barclays lowered shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $284.00 to $234.00 in a research note on Monday, January 6th. JMP Securities reiterated a “market perform” rating on shares of RenaissanceRe in a research note on Thursday, January 30th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $282.00 price objective (down previously from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. Two equities 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 stock. Based on data from MarketBeat.com, RenaissanceRe presently has an average rating of “Hold” and a consensus price target of $279.90.

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.