Natixis Advisors LLC Sells 645 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Natixis Advisors LLC decreased its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 4.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,746 shares of the insurance provider’s stock after selling 645 shares during the period. Natixis Advisors LLC’s holdings in RenaissanceRe were worth $3,669,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Impax Asset Management Group plc raised its position in RenaissanceRe by 10.8% during the 4th quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider’s stock valued at $466,969,000 after purchasing an additional 182,530 shares during the last quarter. Geode Capital Management LLC raised its position in RenaissanceRe by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider’s stock valued at $250,892,000 after purchasing an additional 25,773 shares during the last quarter. Davis Selected Advisers grew its holdings in shares of RenaissanceRe by 0.8% during the 4th quarter. Davis Selected Advisers now owns 142,313 shares of the insurance provider’s stock worth $35,409,000 after acquiring an additional 1,099 shares during the period. Nepsis Inc. grew its holdings in shares of RenaissanceRe by 32.9% during the 4th quarter. Nepsis Inc. now owns 128,983 shares of the insurance provider’s stock worth $32,092,000 after acquiring an additional 31,915 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in shares of RenaissanceRe by 3.4% during the 4th quarter. Fisher Asset Management LLC now owns 83,483 shares of the insurance provider’s stock worth $20,771,000 after acquiring an additional 2,710 shares during the period. Institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Up 0.4 %

Shares of RenaissanceRe stock opened at $236.75 on Friday. 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 stock has a market capitalization of $11.66 billion, a PE ratio of 6.76, a price-to-earnings-growth 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 50-day simple moving average of $241.01 and a two-hundred day simple moving average of $257.08.

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

RenaissanceRe Increases Dividend

The company also recently announced 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 is a boost from RenaissanceRe’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 0.68%. RenaissanceRe’s payout ratio is 4.57%.

Insider Activity

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 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 $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 Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on RNR shares. JPMorgan Chase & Co. upped their target price on RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a report on Friday, January 3rd. Keefe, Bruyette & Woods reduced their target price on RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating on the stock in a report on Tuesday, February 4th. Jefferies Financial Group reiterated a “hold” rating and set a $282.00 target price (down previously 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 report on Thursday, January 30th. Finally, Morgan Stanley reduced their target price on RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $279.90.

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.