Great Lakes Advisors LLC Sells 25,216 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Great Lakes Advisors LLC decreased its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 10.3% in the 4th quarter, HoldingsChannel reports. The firm owned 218,735 shares of the insurance provider’s stock after selling 25,216 shares during the quarter. Great Lakes Advisors LLC’s holdings in RenaissanceRe were worth $54,424,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Impax Asset Management Group plc raised its stake in RenaissanceRe by 10.8% during the fourth quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider’s stock worth $466,969,000 after acquiring an additional 182,530 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in shares of RenaissanceRe in the third quarter valued at approximately $3,684,000. Fisher Asset Management LLC increased its stake in shares of RenaissanceRe by 12.3% in the third quarter. Fisher Asset Management LLC now owns 80,773 shares of the insurance provider’s stock valued at $22,003,000 after buying an additional 8,844 shares during the period. Geode Capital Management LLC increased its stake in shares of RenaissanceRe by 2.9% in the third quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider’s stock valued at $250,892,000 after buying an additional 25,773 shares during the period. Finally, Citigroup Inc. increased its stake in shares of RenaissanceRe by 367.4% in the third quarter. Citigroup Inc. now owns 30,476 shares of the insurance provider’s stock valued at $8,302,000 after buying an additional 23,956 shares during the period. Institutional investors own 99.97% of the company’s stock.

Insider Activity

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction 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 of the company’s stock, valued at approximately $20,178,270.72. This trade represents a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is currently owned by corporate insiders.

RenaissanceRe Trading Down 0.8 %

NYSE:RNR opened at $239.53 on Wednesday. The firm has a 50-day moving average price of $242.98 and a two-hundred day moving average price of $257.97. The firm has a market cap of $11.80 billion, a price-to-earnings ratio of 6.84, 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 debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42.

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 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 expect that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.67%. 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 Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods lowered their price objective on RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a research note on Tuesday, February 4th. Jefferies Financial Group reissued a “hold” rating and set a $282.00 target price (down previously from $304.00) on shares of RenaissanceRe in a research report on Wednesday, December 18th. Morgan Stanley reduced their price target on shares of RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Barclays lowered shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $284.00 to $234.00 in a report on Monday, January 6th. Finally, JMP Securities restated a “market perform” rating on shares of RenaissanceRe in a report on Thursday, January 30th. 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. Based on data from MarketBeat, RenaissanceRe presently has an average rating of “Hold” and an average price target 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.