RenaissanceRe Holdings Ltd. (NYSE:RNR) Holdings Boosted by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. raised its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 20.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,288 shares of the insurance provider’s stock after acquiring an additional 215 shares during the period. First Citizens Bank & Trust Co.’s holdings in RenaissanceRe were worth $320,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Impax Asset Management Group plc boosted its holdings in shares of RenaissanceRe by 32.4% during the third quarter. Impax Asset Management Group plc now owns 1,697,636 shares of the insurance provider’s stock valued at $461,679,000 after acquiring an additional 415,366 shares during the period. Philadelphia Financial Management of San Francisco LLC bought a new stake in RenaissanceRe in the 3rd quarter valued at about $18,969,000. Northwest & Ethical Investments L.P. acquired a new position in RenaissanceRe during the 3rd quarter valued at about $17,086,000. World Investment Advisors LLC bought a new position in RenaissanceRe in the 3rd quarter worth about $16,176,000. Finally, Assetmark Inc. grew its position in RenaissanceRe by 115.3% in the 3rd quarter. Assetmark Inc. now owns 81,006 shares of the insurance provider’s stock worth $22,066,000 after purchasing an additional 43,384 shares during the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP David E. Marra sold 1,000 shares of RenaissanceRe 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 transaction, the executive vice president now directly owns 79,392 shares of the company’s stock, valued at $20,178,270.72. This trade represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.30% of the company’s stock.

RenaissanceRe Trading Down 1.5 %

Shares of NYSE:RNR opened at $259.23 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.43 and a current ratio of 1.43. The stock has a market capitalization of $13.46 billion, a price-to-earnings ratio of 3.74, a PEG ratio of 1.90 and a beta of 0.44. RenaissanceRe Holdings Ltd. has a 1-year low of $208.98 and a 1-year high of $300.00. The company has a 50 day moving average price of $261.72 and a 200 day moving average price of $257.43.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share for the quarter, topping the consensus estimate of $6.94 by $1.12. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. On average, research analysts anticipate that RenaissanceRe Holdings Ltd. will post 42.52 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a $0.39 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.60%. RenaissanceRe’s dividend payout ratio is currently 2.25%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wells Fargo & Company reduced their price objective on RenaissanceRe from $301.00 to $288.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods increased their price target on RenaissanceRe from $310.00 to $318.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Evercore ISI lifted their price objective on shares of RenaissanceRe from $229.00 to $246.00 and gave the company an “underperform” rating in a research note on Thursday, November 7th. Jefferies Financial Group reaffirmed 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. Finally, JPMorgan Chase & Co. raised their target price 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. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $284.00.

RenaissanceRe Company 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.