Choreo LLC Takes Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Choreo LLC acquired a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,010 shares of the insurance provider’s stock, valued at approximately $2,993,000.

A number of other institutional investors have also modified their holdings of the company. Impax Asset Management Group plc increased its position in 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 worth $461,679,000 after purchasing an additional 415,366 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC acquired a new position in RenaissanceRe during the third quarter worth approximately $18,969,000. Northwest & Ethical Investments L.P. acquired a new position in RenaissanceRe during the third quarter worth approximately $17,086,000. World Investment Advisors LLC acquired a new position in RenaissanceRe during the third quarter worth approximately $16,176,000. Finally, Assetmark Inc. increased its position in RenaissanceRe by 115.3% during the third 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. Institutional investors and hedge funds own 99.97% of the company’s stock.

Insider Buying and Selling at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the 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 transaction, the executive vice president now directly owns 79,392 shares in the company, valued at $20,178,270.72. This represents a 1.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.80% of the stock is currently owned by insiders.

RenaissanceRe Price Performance

Shares of RNR stock opened at $240.59 on Friday. The company has a market capitalization of $12.50 billion, a PE ratio of 6.87, a price-to-earnings-growth ratio of 1.65 and a beta of 0.43. The firm has a fifty day simple moving average of $255.99 and a 200-day simple moving average of $257.38. The company has a current ratio of 1.42, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. RenaissanceRe Holdings Ltd. has a twelve month low of $208.98 and a twelve month high of $300.00.

RenaissanceRe (NYSE:RNR) last announced its 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 net margin of 15.99% and a return on equity of 23.41%. Equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 33.43 earnings per share for the current fiscal 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 paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.67%. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. RenaissanceRe’s dividend payout ratio is 4.45%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Jefferies Financial Group reaffirmed a “hold” rating and set a $282.00 price target (down previously from $304.00) on shares of RenaissanceRe in a research report on Wednesday, December 18th. JMP Securities reaffirmed a “market perform” rating on shares of RenaissanceRe in a research report on Thursday, January 30th. JPMorgan Chase & Co. boosted their price objective on shares of RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a research note on Friday, January 3rd. 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 research note on Friday, January 31st. Finally, StockNews.com downgraded shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $279.90.

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.