New Republic Capital LLC Decreases Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

New Republic Capital LLC cut its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 13.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,253 shares of the insurance provider’s stock after selling 495 shares during the quarter. New Republic Capital LLC’s holdings in RenaissanceRe were worth $809,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Sanctuary Advisors LLC purchased a new stake in shares of RenaissanceRe in the second quarter worth about $229,000. Wedmont Private Capital purchased a new stake in RenaissanceRe in the 3rd quarter worth approximately $228,000. UMB Bank n.a. grew its stake in shares of RenaissanceRe by 316.7% during the 3rd quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 95 shares during the period. Simplicity Wealth LLC increased its holdings in shares of RenaissanceRe by 65.1% during the 3rd quarter. Simplicity Wealth LLC now owns 1,986 shares of the insurance provider’s stock valued at $541,000 after purchasing an additional 783 shares in the last quarter. Finally, Carnegie Investment Counsel acquired a new position in shares of RenaissanceRe in the 3rd quarter valued at $218,000. 99.97% of the stock is owned by institutional investors and hedge funds.

RenaissanceRe Price Performance

RenaissanceRe stock opened at $234.09 on Tuesday. The company has a current ratio of 1.42, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average price of $253.99 and a 200 day moving average price of $258.03. RenaissanceRe Holdings Ltd. has a 12-month low of $208.98 and a 12-month high of $300.00. The stock has a market cap of $12.16 billion, a P/E ratio of 6.68, a PEG ratio of 1.91 and a beta of 0.43.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 EPS for the quarter, beating the consensus estimate of $6.94 by $1.12. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. Sell-side analysts anticipate that RenaissanceRe Holdings Ltd. will post 29.92 earnings per share for the current year.

RenaissanceRe Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, March 14th. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.68%. RenaissanceRe’s dividend payout ratio is currently 4.45%.

Wall Street Analyst Weigh In

RNR has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a research report on Friday, January 3rd. Evercore ISI raised their price objective on RenaissanceRe from $229.00 to $246.00 and gave the company an “underperform” rating in a report on Thursday, November 7th. Jefferies Financial Group reiterated 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 dropped their price target on shares of RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Finally, StockNews.com downgraded shares of RenaissanceRe from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, RenaissanceRe has a consensus rating of “Hold” and a consensus target price of $279.90.

Insider Buying and Selling

In other RenaissanceRe 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.30% of the company’s stock.

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.