First Citizens Bank & Trust Co. Has $320,000 Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

First Citizens Bank & Trust Co. boosted its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 20.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,288 shares of the insurance provider’s stock after purchasing an additional 215 shares during the period. First Citizens Bank & Trust Co.’s holdings in RenaissanceRe were worth $320,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. ORG Wealth Partners LLC purchased a new position in shares of RenaissanceRe during the 3rd quarter valued at $30,000. MassMutual Private Wealth & Trust FSB boosted its position in 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. UMB Bank n.a. grew its stake in RenaissanceRe by 316.7% in the third quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 95 shares in the last quarter. Advisors Asset Management Inc. purchased a new position in RenaissanceRe in the third quarter valued at about $45,000. Finally, V Square Quantitative Management LLC increased its position in RenaissanceRe by 29.5% in the 3rd quarter. V Square Quantitative Management LLC now owns 180 shares of the insurance provider’s stock worth $49,000 after purchasing an additional 41 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

Insider Activity at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total transaction of $254,160.00. Following the sale, the executive vice president now directly owns 79,392 shares in the company, valued at approximately $20,178,270.72. The trade was a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods boosted their price target on RenaissanceRe from $310.00 to $318.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Bank of America raised their price target on shares of RenaissanceRe from $364.00 to $391.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Wells Fargo & Company decreased their price objective on shares of RenaissanceRe from $301.00 to $288.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. JPMorgan Chase & Co. raised their target price on RenaissanceRe from $280.00 to $284.00 and gave the company a “neutral” rating in a report on Friday, January 3rd. Finally, Evercore ISI upped their price target on RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $284.00.

RenaissanceRe Stock Performance

RNR opened at $259.23 on Wednesday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.18. The stock’s 50 day moving average price is $261.72 and its two-hundred day moving average price is $257.43. The firm has a market capitalization of $13.46 billion, a P/E ratio of 3.74, a price-to-earnings-growth ratio of 1.90 and a beta of 0.44. RenaissanceRe Holdings Ltd. has a 12-month low of $208.98 and a 12-month high of $300.00.

RenaissanceRe (NYSE:RNR) last released its earnings results on Tuesday, January 28th. The insurance provider reported $8.06 EPS for the quarter, beating the consensus estimate of $6.94 by $1.12. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. On average, equities analysts forecast that RenaissanceRe Holdings Ltd. will post 42.52 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend was Friday, December 13th. RenaissanceRe’s dividend payout ratio (DPR) is presently 2.25%.

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.