44 Wealth Management LLC Has $1.06 Million Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

44 Wealth Management LLC cut its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 5.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,262 shares of the insurance provider’s stock after selling 222 shares during the quarter. 44 Wealth Management LLC’s holdings in RenaissanceRe were worth $1,060,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew its stake in RenaissanceRe by 51.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock valued at $30,000 after buying an additional 41 shares during the last quarter. Advisors Asset Management Inc. acquired a new stake in RenaissanceRe in the 3rd quarter valued at approximately $45,000. UMB Bank n.a. grew 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 valued at $44,000 after buying an additional 50 shares during the last quarter. LRI Investments LLC grew its holdings in RenaissanceRe by 668.8% in the 3rd quarter. LRI Investments LLC now owns 246 shares of the insurance provider’s stock valued at $63,000 after buying an additional 214 shares during the last quarter. Finally, ORG Wealth Partners LLC grew its holdings in RenaissanceRe by 129.4% in the 4th quarter. ORG Wealth Partners LLC now owns 250 shares of the insurance provider’s stock valued at $62,000 after buying an additional 141 shares during the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RNR has been the topic of several research analyst reports. JMP Securities restated a “market perform” rating on shares of RenaissanceRe in a research report on Thursday, January 30th. Keefe, Bruyette & Woods decreased their price objective on RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating on the stock in a report on Tuesday, February 4th. Jefferies Financial Group reissued a “hold” rating and set a $282.00 price objective (down previously from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. Morgan Stanley decreased their target price on shares of RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Finally, Barclays lowered shares of 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 report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $279.90.

RenaissanceRe Price Performance

Shares of RNR stock opened at $226.53 on Friday. RenaissanceRe Holdings Ltd. has a 1 year low of $208.98 and a 1 year high of $300.00. The firm’s 50 day moving average is $245.82 and its 200-day moving average is $257.72. The firm has a market capitalization of $11.16 billion, a price-to-earnings ratio of 6.47, a PEG ratio of 2.09 and a beta of 0.43. 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 (NYSE:RNR) last issued its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.94 by $1.12. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. Sell-side analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued 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 yield of 0.71%. The ex-dividend date of this dividend is Friday, March 14th. RenaissanceRe’s dividend payout ratio is currently 4.45%.

Insiders Place Their Bets

In other news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was 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 $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 is available through this hyperlink. Company insiders own 1.30% of the company’s stock.

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.