RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC reduced its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 22.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,304 shares of the insurance provider’s stock after selling 382 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in RenaissanceRe were worth $324,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Impax Asset Management Group plc increased its stake in shares of 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 acquiring an additional 182,530 shares during the last quarter. Geode Capital Management LLC increased its position in RenaissanceRe by 2.9% during the third quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider’s stock worth $250,892,000 after purchasing an additional 25,773 shares during the last quarter. HighTower Advisors LLC raised its stake in RenaissanceRe by 47.8% during the third quarter. HighTower Advisors LLC now owns 12,224 shares of the insurance provider’s stock worth $3,342,000 after purchasing an additional 3,954 shares during the period. World Investment Advisors LLC acquired a new position in shares of RenaissanceRe in the 3rd quarter valued at $16,176,000. Finally, Barclays PLC grew its stake in shares of RenaissanceRe by 57.1% during the 3rd quarter. Barclays PLC now owns 22,923 shares of the insurance provider’s stock valued at $6,244,000 after buying an additional 8,333 shares during the period. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

RenaissanceRe Stock Up 2.5 %

RNR stock opened at $237.92 on Friday. The company has a market capitalization of $11.66 billion, a P/E ratio of 6.79, a PEG ratio of 2.09 and a beta of 0.29. The firm has a 50 day simple moving average of $236.93 and a 200-day simple moving average of $254.44. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19. RenaissanceRe Holdings Ltd. has a twelve month low of $208.98 and a twelve month high of $300.00.

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, beating 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%. On average, equities research analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.67%. This is an increase 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 4.57%.

Insider Activity at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the business’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 $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 this link. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RNR. Barclays cut their target price on RenaissanceRe from $234.00 to $231.00 and set an “underweight” rating on the stock in a research report on Friday. Morgan Stanley reduced their price objective on RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Jefferies Financial Group cut their price target on shares of RenaissanceRe from $266.00 to $265.00 and set a “hold” rating on the stock in a report on Friday. Wells Fargo & Company decreased their price objective on shares of RenaissanceRe from $277.00 to $271.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, JMP Securities reissued a “market perform” rating on shares of RenaissanceRe in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, RenaissanceRe presently has a consensus rating of “Hold” and an average target price of $280.80.

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.