RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Cooke & Bieler LP

Cooke & Bieler LP decreased its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 12.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,057,603 shares of the insurance provider’s stock after selling 149,507 shares during the period. RenaissanceRe makes up approximately 2.5% of Cooke & Bieler LP’s investment portfolio, making the stock its 6th largest position. Cooke & Bieler LP owned about 2.04% of RenaissanceRe worth $263,142,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of RNR. Janney Montgomery Scott LLC raised its holdings in RenaissanceRe by 104.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 5,068 shares of the insurance provider’s stock valued at $1,381,000 after acquiring an additional 2,588 shares during the last quarter. QRG Capital Management Inc. acquired a new stake in shares of RenaissanceRe during the 3rd quarter worth approximately $424,000. Impax Asset Management Group plc increased its holdings in shares of RenaissanceRe by 32.4% during the 3rd quarter. Impax Asset Management Group plc now owns 1,697,636 shares of the insurance provider’s stock worth $461,679,000 after buying an additional 415,366 shares during the last quarter. Mesirow Financial Investment Management Inc. acquired a new stake in shares of RenaissanceRe during the 3rd quarter worth approximately $210,000. Finally, Crossmark Global Holdings Inc. increased its holdings in shares of RenaissanceRe by 22.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 4,142 shares of the insurance provider’s stock worth $1,128,000 after buying an additional 766 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

Analysts Set New Price Targets

RNR has been the subject of a number of research analyst reports. Morgan Stanley lowered their price objective on shares of RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Jefferies Financial Group reiterated a “hold” rating and set a $282.00 price target (down from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. JPMorgan Chase & Co. lifted their price objective on shares of RenaissanceRe from $280.00 to $284.00 and gave the company a “neutral” rating in a research note on Friday, January 3rd. JMP Securities restated a “market perform” rating on shares of RenaissanceRe in a research note on Thursday, January 30th. Finally, Keefe, Bruyette & Woods dropped 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $279.90.

RenaissanceRe Stock Down 0.9 %

RNR opened at $241.63 on Tuesday. The firm’s 50-day simple moving average is $243.17 and its 200-day simple moving average is $258.06. 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 Holdings Ltd. has a twelve month low of $208.98 and a twelve month high of $300.00. The firm has a market cap of $11.90 billion, a price-to-earnings ratio of 6.90, a PEG ratio of 2.09 and a beta of 0.38.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share 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%. Equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.40 per share. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.60 annualized dividend and a yield of 0.66%. RenaissanceRe’s dividend payout ratio (DPR) is currently 4.57%.

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 dated 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 transaction, the executive vice president now 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 through this link. Insiders own 1.30% 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.