South Dakota Investment Council Sells 400 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

South Dakota Investment Council lowered its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 0.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 89,128 shares of the insurance provider’s stock after selling 400 shares during the period. South Dakota Investment Council owned approximately 0.17% of RenaissanceRe worth $22,176,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its position in shares of RenaissanceRe by 51.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock worth $30,000 after buying an additional 41 shares during the last quarter. Advisors Asset Management Inc. purchased a new position in shares of RenaissanceRe in the 3rd quarter worth approximately $45,000. UMB Bank n.a. grew its position in shares of RenaissanceRe by 40.0% in the 4th quarter. UMB Bank n.a. now owns 175 shares of the insurance provider’s stock worth $44,000 after buying an additional 50 shares during the last quarter. LRI Investments LLC grew its position in shares of RenaissanceRe by 668.8% in the 3rd quarter. LRI Investments LLC now owns 246 shares of the insurance provider’s stock worth $63,000 after buying an additional 214 shares during the last quarter. Finally, ORG Wealth Partners LLC grew its position in RenaissanceRe by 129.4% during the 4th quarter. ORG Wealth Partners LLC now owns 250 shares of the insurance provider’s stock worth $62,000 after purchasing an additional 141 shares during the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Jefferies Financial Group reissued a “hold” rating and set a $282.00 target price (down previously from $304.00) on shares of RenaissanceRe in a research report on Wednesday, December 18th. Keefe, Bruyette & Woods dropped their price objective on shares of RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating on the stock in a report on Tuesday, February 4th. JMP Securities reaffirmed a “market perform” rating on shares of RenaissanceRe in a report on Thursday, January 30th. Wells Fargo & Company dropped their price objective on shares of RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Finally, Evercore ISI upped their price objective on shares of RenaissanceRe from $229.00 to $246.00 and gave the company an “underperform” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, RenaissanceRe currently has a consensus rating of “Hold” and a consensus price target of $279.90.

RenaissanceRe Stock Performance

RNR opened at $226.53 on Friday. 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 firm has a fifty day moving average price of $245.82 and a 200 day moving average price of $257.94. RenaissanceRe Holdings Ltd. has a 1 year low of $208.98 and a 1 year high of $300.00. The stock has a market cap of $11.16 billion, a P/E ratio of 6.47, a P/E/G ratio of 2.09 and a beta of 0.43.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share for the quarter, topping 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%. Equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Increases Dividend

The business 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 dividend of $0.40 per share. The ex-dividend date is Friday, March 14th. 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 0.71%. RenaissanceRe’s dividend payout ratio is currently 4.45%.

Insiders Place Their Bets

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total transaction of $254,160.00. Following the completion of the transaction, the executive vice president now directly owns 79,392 shares in the company, valued at approximately $20,178,270.72. This represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.30% of the stock is currently owned by company insiders.

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.