Davis Selected Advisers Acquires 1,099 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Davis Selected Advisers raised its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 142,313 shares of the insurance provider’s stock after acquiring an additional 1,099 shares during the quarter. Davis Selected Advisers owned approximately 0.27% of RenaissanceRe worth $35,409,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. SBI Securities Co. Ltd. bought a new stake in shares of RenaissanceRe in the fourth quarter worth about $29,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of RenaissanceRe by 51.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 41 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of RenaissanceRe by 1,587.5% in the fourth quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 127 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of RenaissanceRe by 71.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 65 shares during the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of RenaissanceRe by 40.0% in the fourth quarter. UMB Bank n.a. now owns 175 shares of the insurance provider’s stock worth $44,000 after purchasing an additional 50 shares during the last quarter. 99.97% of the stock is owned by institutional investors.

RenaissanceRe Stock Up 0.3 %

Shares of NYSE:RNR opened at $243.81 on Friday. RenaissanceRe Holdings Ltd. has a 1 year low of $208.98 and a 1 year high of $300.00. The business has a 50 day simple moving average of $243.45 and a two-hundred day simple moving average of $257.92. The firm has a market capitalization of $12.01 billion, a PE ratio of 6.96, a price-to-earnings-growth ratio of 2.09 and a beta of 0.38. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42.

RenaissanceRe (NYSE:RNR) last announced its 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, equities analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Friday, March 14th. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s payout ratio is 4.57%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on RNR shares. Jefferies Financial Group reaffirmed 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. Wells Fargo & Company reduced their target price on RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Barclays lowered RenaissanceRe from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $284.00 to $234.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. lifted their price target on RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a research report on Friday, January 3rd. Finally, Keefe, Bruyette & Woods dropped their price target on RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a research report on Tuesday, February 4th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $279.90.

Insider Buying and Selling at RenaissanceRe

In related 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 value 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.80% of the company’s stock.

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.