Headlands Technologies LLC Purchases New Shares in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Headlands Technologies LLC acquired a new position in RenaissanceRe Holdings Ltd. (NYSE:RNR) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 993 shares of the insurance provider’s stock, valued at approximately $247,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RNR. Norges Bank purchased a new stake in shares of RenaissanceRe during the fourth quarter valued at approximately $173,530,000. Boston Partners increased its position in shares of RenaissanceRe by 28.5% during the 4th quarter. Boston Partners now owns 2,013,382 shares of the insurance provider’s stock valued at $500,991,000 after purchasing an additional 446,781 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of RenaissanceRe by 24.3% during the 4th quarter. Geode Capital Management LLC now owns 1,144,805 shares of the insurance provider’s stock worth $284,907,000 after purchasing an additional 223,991 shares during the period. Impax Asset Management Group plc boosted its holdings in shares of RenaissanceRe by 10.8% in the 4th quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider’s stock worth $466,969,000 after buying an additional 182,530 shares during the last quarter. Finally, World Investment Advisors LLC bought a new position in RenaissanceRe during the third quarter valued at about $16,176,000. Hedge funds and other institutional investors own 99.97% of the company’s stock.

RenaissanceRe Price Performance

Shares of RNR opened at $233.04 on Friday. RenaissanceRe Holdings Ltd. has a fifty-two week low of $208.98 and a fifty-two week high of $300.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42. The stock has a market cap of $11.42 billion, a PE ratio of 6.65, a price-to-earnings-growth ratio of 2.09 and a beta of 0.29. The firm’s 50-day simple moving average is $238.43 and its two-hundred day simple moving average is $255.98.

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, 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%. Analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 0.69%. RenaissanceRe’s dividend payout ratio is 4.57%.

Analyst Ratings Changes

RNR has been the topic of several research analyst reports. Wells Fargo & Company dropped 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. 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 research note on Tuesday, February 4th. JMP Securities reaffirmed a “market perform” rating on shares of RenaissanceRe in a research note on Thursday, January 30th. JPMorgan Chase & Co. increased their price target on shares of RenaissanceRe from $280.00 to $284.00 and gave the company a “neutral” rating in a research report on Friday, January 3rd. Finally, Barclays downgraded shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and lowered their price objective 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 issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $283.40.

Insider Buying and Selling at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the company’s 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 transaction, the executive vice president now directly 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 document filed with the SEC, which is available through the SEC website. Company insiders own 1.30% of the company’s stock.

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.