Impax Asset Management Group plc Purchases 182,530 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Impax Asset Management Group plc boosted its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 10.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,880,166 shares of the insurance provider’s stock after acquiring an additional 182,530 shares during the quarter. RenaissanceRe accounts for approximately 2.1% of Impax Asset Management Group plc’s investment portfolio, making the stock its 7th biggest holding. Impax Asset Management Group plc owned approximately 3.62% of RenaissanceRe worth $466,969,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB lifted its stake in RenaissanceRe by 51.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 41 shares during the last quarter. UMB Bank n.a. raised 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 valued at $44,000 after buying an additional 50 shares during the period. Advisors Asset Management Inc. bought a new stake in RenaissanceRe in the third quarter valued at approximately $45,000. ORG Wealth Partners LLC boosted its stake in shares of 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 acquiring an additional 141 shares during the period. Finally, LRI Investments LLC increased its holdings in shares of RenaissanceRe by 668.8% during the 3rd quarter. LRI Investments LLC now owns 246 shares of the insurance provider’s stock worth $63,000 after acquiring an additional 214 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

Insider Transactions at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction that occurred 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 $20,178,270.72. The trade was a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by insiders.

RenaissanceRe Price Performance

RenaissanceRe stock opened at $226.53 on Monday. The firm has a market cap of $11.16 billion, a PE ratio of 6.47, a price-to-earnings-growth ratio of 2.09 and a beta of 0.43. 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 stock’s fifty day moving average price is $245.82 and its two-hundred day moving average price is $258.14. RenaissanceRe Holdings Ltd. has a one year low of $208.98 and a one year high of $300.00.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 EPS for the quarter, topping analysts’ consensus estimates of $6.94 by $1.12. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. As a group, research analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $0.40 dividend. 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 annualized dividend and a dividend yield of 0.71%. RenaissanceRe’s payout ratio is presently 4.45%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Barclays cut shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $284.00 to $234.00 in a research report on Monday, January 6th. JMP Securities reaffirmed a “market perform” rating on shares of RenaissanceRe in a report 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 report on Friday, January 3rd. Morgan Stanley reduced their price objective on RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Finally, Wells Fargo & Company lowered their target price on RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus 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.