Kestra Investment Management LLC Buys 628 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Kestra Investment Management LLC raised its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 46.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,991 shares of the insurance provider’s stock after purchasing an additional 628 shares during the quarter. Kestra Investment Management LLC’s holdings in RenaissanceRe were worth $495,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rockefeller Capital Management L.P. bought a new position in RenaissanceRe during the 3rd quarter valued at about $3,684,000. Fisher Asset Management LLC lifted its stake in RenaissanceRe by 12.3% during the 3rd quarter. Fisher Asset Management LLC now owns 80,773 shares of the insurance provider’s stock valued at $22,003,000 after acquiring an additional 8,844 shares during the period. Geode Capital Management LLC increased its position in shares of 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. Citigroup Inc. increased its position in shares of RenaissanceRe by 367.4% during the 3rd quarter. Citigroup Inc. now owns 30,476 shares of the insurance provider’s stock valued at $8,302,000 after purchasing an additional 23,956 shares during the last quarter. Finally, HighTower Advisors LLC increased its position in shares of RenaissanceRe by 47.8% during the 3rd quarter. HighTower Advisors LLC now owns 12,224 shares of the insurance provider’s stock valued at $3,342,000 after purchasing an additional 3,954 shares during the last quarter. Institutional investors own 99.97% of the company’s stock.

RenaissanceRe Trading Up 0.7 %

RenaissanceRe stock opened at $232.60 on Wednesday. The firm has a 50 day moving average of $248.23 and a 200 day moving average of $258.13. The firm has a market capitalization of $11.46 billion, a price-to-earnings ratio of 6.64, a P/E/G ratio of 2.11 and a beta of 0.43. RenaissanceRe Holdings Ltd. has a 12-month low of $208.98 and a 12-month high of $300.00. 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 (NYSE:RNR) last announced its quarterly earnings data 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%. As a group, research analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Increases Dividend

The business also recently disclosed 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 a positive change from RenaissanceRe’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Friday, March 14th. RenaissanceRe’s dividend payout ratio (DPR) is 4.45%.

Insider Buying and Selling at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the 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 sale, the executive vice president now directly owns 79,392 shares of the company’s stock, valued at $20,178,270.72. This trade represents a 1.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on RNR. StockNews.com lowered shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Keefe, Bruyette & Woods reduced their price target on shares of RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a research report on Tuesday, February 4th. Wells Fargo & Company reduced their price target on shares of RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. JMP Securities reaffirmed a “market perform” rating on shares of RenaissanceRe in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of RenaissanceRe from $280.00 to $284.00 and gave the company a “neutral” rating in a research report on Friday, January 3rd. 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. According to data from MarketBeat, RenaissanceRe has an average 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.