US Bancorp DE Decreases Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

US Bancorp DE trimmed its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,437 shares of the insurance provider’s stock after selling 406 shares during the quarter. US Bancorp DE’s holdings in RenaissanceRe were worth $4,090,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB raised its holdings in shares of RenaissanceRe by 51.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 41 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of RenaissanceRe by 40.0% in the fourth quarter. UMB Bank n.a. now owns 175 shares of the insurance provider’s stock worth $44,000 after acquiring an additional 50 shares during the last quarter. Advisors Asset Management Inc. acquired a new position in shares of RenaissanceRe in the third quarter worth $45,000. ORG Wealth Partners LLC raised its holdings in shares of RenaissanceRe by 129.4% in the fourth quarter. ORG Wealth Partners LLC now owns 250 shares of the insurance provider’s stock worth $62,000 after acquiring an additional 141 shares during the last quarter. Finally, LRI Investments LLC raised its holdings in shares of RenaissanceRe by 668.8% in the third quarter. LRI Investments LLC now owns 246 shares of the insurance provider’s stock worth $63,000 after acquiring an additional 214 shares during the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

RenaissanceRe Stock Performance

Shares of NYSE:RNR opened at $244.10 on Thursday. The firm has a market capitalization of $12.02 billion, a PE ratio of 6.97, a P/E/G ratio of 2.09 and a beta of 0.38. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42. The business has a 50-day moving average of $243.72 and a two-hundred day moving average of $258.12. RenaissanceRe Holdings Ltd. has a 12 month low of $208.98 and a 12 month high of $300.00.

RenaissanceRe (NYSE:RNR) last announced its quarterly 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 return on equity of 23.41% and a net margin of 15.99%. As a group, research analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Increases Dividend

The business 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 of this dividend is Friday, March 14th. This represents a $1.60 annualized dividend and a dividend yield of 0.66%. RenaissanceRe’s dividend payout ratio is presently 4.57%.

Insider Transactions at RenaissanceRe

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 owns 79,392 shares of the company’s stock, valued at $20,178,270.72. This represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a report on Friday, January 3rd. Wells Fargo & Company dropped their target price on RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Morgan Stanley dropped their target price on RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Keefe, Bruyette & Woods dropped their target price on RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a research note on Tuesday, February 4th. Finally, Barclays lowered RenaissanceRe from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $284.00 to $234.00 in a research note on Monday, January 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, RenaissanceRe presently has an average rating of “Hold” and an average target price of $279.90.

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.