Whittier Trust Co. of Nevada Inc. Purchases 587 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Whittier Trust Co. of Nevada Inc. raised its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 4.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,749 shares of the insurance provider’s stock after purchasing an additional 587 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in RenaissanceRe were worth $3,421,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Whittier Trust Co. raised its holdings in shares of RenaissanceRe by 4.0% in the 4th quarter. Whittier Trust Co. now owns 25,706 shares of the insurance provider’s stock worth $6,396,000 after acquiring an additional 994 shares during the last quarter. Northwest & Ethical Investments L.P. raised its stake in shares of RenaissanceRe by 35.2% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 84,798 shares of the insurance provider’s stock worth $21,099,000 after purchasing an additional 22,074 shares during the last quarter. Blueshift Asset Management LLC bought a new position in shares of RenaissanceRe in the fourth quarter valued at approximately $299,000. Magnetar Financial LLC purchased a new position in shares of RenaissanceRe during the fourth quarter valued at approximately $3,039,000. Finally, Teacher Retirement System of Texas grew its holdings in RenaissanceRe by 40.2% during the fourth quarter. Teacher Retirement System of Texas now owns 12,249 shares of the insurance provider’s stock worth $3,048,000 after buying an additional 3,510 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wells Fargo & Company cut their price target 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. 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 research note on Friday, January 31st. Jefferies Financial Group reiterated a “hold” rating and set a $282.00 target price (down from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. JMP Securities restated a “market perform” rating on shares of RenaissanceRe in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a research report on Friday, January 3rd. Two investment 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $279.90.

Insider Activity

In related news, EVP David E. Marra sold 1,000 shares of the company’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 value of $254,160.00. Following 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.

RenaissanceRe Trading Up 0.4 %

Shares of RNR opened at $236.75 on Friday. RenaissanceRe Holdings Ltd. has a twelve month low of $208.98 and a twelve month high of $300.00. The stock has a market cap of $11.66 billion, a PE ratio of 6.76, a P/E/G ratio of 2.09 and a beta of 0.38. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. The business’s 50-day moving average price is $241.01 and its 200-day moving average price is $257.08.

RenaissanceRe (NYSE:RNR) last posted its earnings results 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%. On average, equities analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.60 annualized dividend and a dividend yield of 0.68%. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s dividend payout ratio (DPR) is presently 4.57%.

RenaissanceRe 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.