Envestnet Portfolio Solutions Inc. Purchases 117 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Envestnet Portfolio Solutions Inc. increased its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,541 shares of the insurance provider’s stock after purchasing an additional 117 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in RenaissanceRe were worth $1,130,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. raised its stake in shares of RenaissanceRe by 3.7% in the 3rd quarter. Victory Capital Management Inc. now owns 23,011 shares of the insurance provider’s stock valued at $6,268,000 after buying an additional 824 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in RenaissanceRe in the third quarter valued at about $231,000. Empowered Funds LLC acquired a new position in RenaissanceRe in the third quarter worth about $243,000. Natixis Advisors LLC lifted its stake in RenaissanceRe by 8.3% during the third quarter. Natixis Advisors LLC now owns 15,391 shares of the insurance provider’s stock worth $4,193,000 after purchasing an additional 1,177 shares during the period. Finally, Advisors Asset Management Inc. acquired a new stake in RenaissanceRe during the third quarter valued at approximately $45,000. 99.97% of the stock is owned by institutional investors.

RenaissanceRe Stock Up 0.4 %

NYSE:RNR opened at $236.75 on Friday. The stock’s fifty day moving average price is $241.01 and its two-hundred day moving average price is $257.08. The company has a market cap of $11.66 billion, a price-to-earnings ratio of 6.76, a P/E/G ratio of 2.09 and a beta of 0.38. RenaissanceRe Holdings Ltd. has a 52-week low of $208.98 and a 52-week 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.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.94 by $1.12. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. On average, analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.68%. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. RenaissanceRe’s payout ratio is 4.57%.

Insider Activity at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the company’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 in the company, valued at approximately $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 accessible through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on RNR shares. Jefferies Financial Group reissued a “hold” rating and issued a $282.00 target price (down from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. JMP Securities reiterated a “market perform” rating on shares of RenaissanceRe in a research note on Thursday, January 30th. Wells Fargo & Company reduced their target price on shares of RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Barclays downgraded shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $284.00 to $234.00 in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 4th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, RenaissanceRe presently has a consensus rating of “Hold” and an average target price of $279.90.

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.