Great West Life Assurance Co. Can lowered its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,371 shares of the insurance provider’s stock after selling 463 shares during the quarter. Great West Life Assurance Co. Can owned about 0.14% of RenaissanceRe worth $7,531,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of RNR. Penserra Capital Management LLC acquired a new position in shares of RenaissanceRe in the 4th quarter valued at about $30,000. First Mercantile Trust Co. increased its holdings in RenaissanceRe by 52.6% in the fourth quarter. First Mercantile Trust Co. now owns 290 shares of the insurance provider’s stock worth $39,000 after buying an additional 100 shares during the last quarter. Rehmann Capital Advisory Group increased its holdings in RenaissanceRe by 65.1% in the fourth quarter. Rehmann Capital Advisory Group now owns 322 shares of the insurance provider’s stock worth $43,000 after buying an additional 127 shares during the last quarter. AdvisorNet Financial Inc increased its holdings in RenaissanceRe by 333.3% in the fourth quarter. AdvisorNet Financial Inc now owns 650 shares of the insurance provider’s stock worth $87,000 after buying an additional 500 shares during the last quarter. Finally, ETF Managers Group LLC increased its holdings in RenaissanceRe by 15.5% in the fourth quarter. ETF Managers Group LLC now owns 937 shares of the insurance provider’s stock worth $125,000 after buying an additional 126 shares during the last quarter. 95.15% of the stock is owned by institutional investors and hedge funds.
In other news, SVP Jonathan Paradine sold 20,000 shares of the stock in a transaction that occurred on Monday, December 31st. The stock was sold at an average price of $132.79, for a total value of $2,655,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Sean G. Brosnan sold 1,250 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $145.97, for a total value of $182,462.50. Following the completion of the sale, the senior vice president now directly owns 10,960 shares of the company’s stock, valued at $1,599,831.20. The disclosure for this sale can be found here. Insiders have sold 41,250 shares of company stock valued at $5,494,063 in the last ninety days. Company insiders own 1.50% of the company’s stock.
RenaissanceRe (NYSE:RNR) last announced its earnings results on Tuesday, January 29th. The insurance provider reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.93) by $1.95. The firm had revenue of $633.44 million during the quarter, compared to analysts’ expectations of $545.60 million. RenaissanceRe had a return on equity of 9.18% and a net margin of 10.96%. As a group, equities analysts predict that RenaissanceRe Holdings Ltd. will post 11.07 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, March 14th. This represents a $1.36 dividend on an annualized basis and a yield of 0.93%. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.33. RenaissanceRe’s dividend payout ratio is presently 14.39%.
RNR has been the topic of a number of research reports. Zacks Investment Research downgraded RenaissanceRe from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. Bank of America upgraded RenaissanceRe from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $125.00 to $144.00 in a report on Monday, December 3rd. Keefe, Bruyette & Woods upgraded RenaissanceRe from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $143.00 to $168.00 in a report on Monday, December 10th. TheStreet upgraded RenaissanceRe from a “c+” rating to a “b” rating in a report on Thursday, February 7th. Finally, Wells Fargo & Co restated a “hold” rating and issued a $125.00 price objective on shares of RenaissanceRe in a report on Tuesday, January 29th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. RenaissanceRe has an average rating of “Hold” and a consensus price target of $143.70.
RenaissanceRe Holdings Ltd. 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 retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including earthquakes, hurricanes, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising 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, and binding facilities and regional U.S.
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