Yousif Capital Management LLC Sells 849 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Yousif Capital Management LLC trimmed its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 4.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,261 shares of the insurance provider’s stock after selling 849 shares during the period. Yousif Capital Management LLC’s holdings in RenaissanceRe were worth $4,544,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. V Square Quantitative Management LLC increased its holdings in RenaissanceRe by 29.5% during the 3rd quarter. V Square Quantitative Management LLC now owns 180 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 41 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in shares of RenaissanceRe by 51.3% during the fourth 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 period. First Citizens Bank & Trust Co. raised its holdings in shares of RenaissanceRe by 4.6% during the third quarter. First Citizens Bank & Trust Co. now owns 1,073 shares of the insurance provider’s stock valued at $292,000 after acquiring an additional 47 shares in the last quarter. UMB Bank n.a. lifted its stake in 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 period. Finally, Lifestyle Asset Management Inc. lifted its stake in RenaissanceRe by 1.1% in the fourth quarter. Lifestyle Asset Management Inc. now owns 4,645 shares of the insurance provider’s stock worth $1,156,000 after acquiring an additional 52 shares during the period. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total transaction of $254,160.00. Following the sale, 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 filing with the SEC, which is available at the SEC website. 1.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on RNR shares. Morgan Stanley decreased their price objective on shares of RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. StockNews.com downgraded shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Barclays cut RenaissanceRe from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $284.00 to $234.00 in a research report on Monday, January 6th. Wells Fargo & Company decreased their target price on RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods dropped their price target on RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating on the stock in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $279.90.

RenaissanceRe Stock Down 0.6 %

RNR stock opened at $239.49 on Friday. The business has a 50 day moving average of $255.06 and a 200 day moving average of $257.47. The firm has a market cap of $12.44 billion, a PE ratio of 6.84, a price-to-earnings-growth ratio of 1.65 and a beta of 0.43. RenaissanceRe Holdings Ltd. has a twelve month low of $208.98 and a twelve month high of $300.00. The company has a quick ratio of 1.43, a current 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 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%. On average, research analysts forecast that RenaissanceRe Holdings Ltd. will post 33.43 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.40 per share. This is a boost 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 dividend on an annualized basis and a dividend yield of 0.67%. RenaissanceRe’s dividend payout ratio is presently 4.57%.

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.