Schroder Investment Management Group Sells 76,579 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Schroder Investment Management Group trimmed its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 76.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,042 shares of the insurance provider’s stock after selling 76,579 shares during the quarter. Schroder Investment Management Group’s holdings in RenaissanceRe were worth $5,982,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. SBI Securities Co. Ltd. purchased a new stake in shares of RenaissanceRe in the 4th quarter worth $29,000. MassMutual Private Wealth & Trust FSB increased its position in RenaissanceRe by 51.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock worth $30,000 after buying an additional 41 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of RenaissanceRe by 1,587.5% in the fourth quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider’s stock worth $34,000 after buying an additional 127 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of RenaissanceRe by 71.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider’s stock valued at $39,000 after buying an additional 65 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in shares of RenaissanceRe by 40.0% during the 4th quarter. UMB Bank n.a. now owns 175 shares of the insurance provider’s stock valued at $44,000 after acquiring an additional 50 shares during the period. 99.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction dated 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 of the company’s stock, valued at approximately $20,178,270.72. The trade was a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

RNR has been the topic of a number of recent analyst reports. Morgan Stanley decreased their target price on shares of RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Barclays cut 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 research note on Monday, January 6th. JMP Securities reiterated a “market perform” rating on shares of RenaissanceRe in a research note on Thursday, January 30th. Bank of America lowered their price objective on RenaissanceRe from $437.00 to $426.00 and set a “buy” rating on the stock in a research report on Wednesday, March 26th. Finally, Wells Fargo & Company decreased 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 research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $283.40.

RenaissanceRe Stock Down 5.0 %

NYSE RNR opened at $233.04 on Friday. The stock has a 50 day moving average price of $238.43 and a 200-day moving average price of $255.98. RenaissanceRe Holdings Ltd. has a one year low of $208.98 and a one year 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 company has a market capitalization of $11.42 billion, a P/E ratio of 6.65, a P/E/G ratio of 2.09 and a beta of 0.29.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data 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%. As a group, equities analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

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

About RenaissanceRe

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.