Amalgamated Bank Increases Stock Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Amalgamated Bank increased its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,176 shares of the insurance provider’s stock after buying an additional 378 shares during the quarter. Amalgamated Bank’s holdings in RenaissanceRe were worth $6,264,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB increased 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 valued at $30,000 after acquiring an additional 41 shares during the last quarter. Advisors Asset Management Inc. purchased a new stake in RenaissanceRe in the third quarter valued at approximately $45,000. UMB Bank n.a. increased its position in RenaissanceRe by 40.0% during the fourth 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. LRI Investments LLC raised its stake in RenaissanceRe by 668.8% during the third quarter. LRI Investments LLC now owns 246 shares of the insurance provider’s stock worth $63,000 after purchasing an additional 214 shares during the period. Finally, ORG Wealth Partners LLC boosted its holdings in shares of 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 purchasing an additional 141 shares during the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

RenaissanceRe Stock Performance

Shares of NYSE:RNR opened at $231.22 on Thursday. The company has a market cap of $11.39 billion, a P/E ratio of 6.60, a PEG ratio of 2.09 and a beta of 0.43. RenaissanceRe Holdings Ltd. has a one year low of $208.98 and a one year high of $300.00. The business’s 50-day simple moving average is $244.52 and its 200 day simple moving average is $257.90. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) for the quarter, beating 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, sell-side analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.40 dividend. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Friday, March 14th. RenaissanceRe’s dividend payout ratio is presently 4.57%.

Insider Activity

In related news, EVP David E. Marra sold 1,000 shares of the business’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 transaction, the executive vice president now owns 79,392 shares in the company, valued at approximately $20,178,270.72. The trade was a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

RNR has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods dropped their price objective on RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a report on Tuesday, February 4th. JMP Securities restated a “market perform” rating on shares of RenaissanceRe in a research note on Thursday, January 30th. Wells Fargo & Company reduced 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. JPMorgan Chase & Co. increased their target price on shares of RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a research report on Friday, January 3rd. Finally, Jefferies Financial Group restated a “hold” rating and issued a $282.00 price target (down previously from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price 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.