Securian Asset Management Inc. Lowers Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Securian Asset Management Inc. cut its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,927 shares of the insurance provider’s stock after selling 129 shares during the period. Securian Asset Management Inc.’s holdings in RenaissanceRe were worth $977,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new stake in RenaissanceRe in the fourth quarter worth about $29,000. MassMutual Private Wealth & Trust FSB lifted its holdings 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 purchasing an additional 41 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of RenaissanceRe by 1,587.5% during the fourth quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 127 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of RenaissanceRe by 71.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 65 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of RenaissanceRe by 40.0% during the fourth quarter. UMB Bank n.a. now owns 175 shares of the insurance provider’s stock valued at $44,000 after purchasing an additional 50 shares during the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP David E. Marra sold 1,000 shares of the business’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 sale, the executive vice president now owns 79,392 shares of the company’s stock, valued at $20,178,270.72. The trade was a 1.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.30% of the company’s stock.

RenaissanceRe Trading Up 1.4 %

NYSE:RNR opened at $239.63 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19. RenaissanceRe Holdings Ltd. has a 12 month low of $208.98 and a 12 month high of $300.00. The company has a market cap of $11.80 billion, a PE ratio of 6.84, a price-to-earnings-growth ratio of 2.09 and a beta of 0.38. The company has a 50 day simple moving average of $242.19 and a two-hundred day simple moving average of $257.64.

RenaissanceRe (NYSE:RNR) last posted its 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 net margin of 15.99% and a return on equity of 23.41%. Research analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Friday, March 14th. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s payout ratio is 4.57%.

Wall Street Analyst Weigh In

RNR has been the subject of several recent research reports. Jefferies Financial Group reiterated a “hold” rating and set a $282.00 target price (down from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. Barclays lowered shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $284.00 to $234.00 in a report on Monday, January 6th. JMP Securities reissued a “market perform” rating on shares of RenaissanceRe in a research report on Thursday, January 30th. Keefe, Bruyette & Woods reduced their price target on shares of RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company reduced their price target on shares of RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus 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.