Assetmark Inc. Has $19.04 Million Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Assetmark Inc. lessened its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 5.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,542 shares of the insurance provider’s stock after selling 4,464 shares during the quarter. Assetmark Inc.’s holdings in RenaissanceRe were worth $19,044,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in shares of RenaissanceRe during the 4th quarter worth about $29,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of RenaissanceRe by 51.3% during the 4th 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 in the last quarter. Jones Financial Companies Lllp lifted its position in RenaissanceRe by 1,587.5% in the 4th quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 127 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in RenaissanceRe by 71.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 65 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in RenaissanceRe by 40.0% in the 4th quarter. UMB Bank n.a. now owns 175 shares of the insurance provider’s stock valued at $44,000 after acquiring an additional 50 shares in the last quarter. Institutional investors own 99.97% of the company’s stock.

RenaissanceRe Trading Down 0.3 %

Shares of RNR stock opened at $243.22 on Friday. The company has a 50 day moving average of $243.61 and a 200-day moving average of $258.03. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. RenaissanceRe Holdings Ltd. has a 12-month low of $208.98 and a 12-month high of $300.00. The firm has a market cap of $11.98 billion, a P/E ratio of 6.95, a PEG ratio of 2.09 and a beta of 0.38.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) for the quarter, topping 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 26.04 earnings per share for the current year.

RenaissanceRe Increases Dividend

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

Insider Transactions at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the firm’s 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 owns 79,392 shares in the company, valued at $20,178,270.72. This trade represents a 1.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RNR. Evercore ISI raised their price target on shares of RenaissanceRe from $229.00 to $246.00 and gave the company an “underperform” rating in a research report on Thursday, November 7th. Barclays cut shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $284.00 to $234.00 in a research report on Monday, January 6th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $282.00 price target (down previously from $304.00) on shares of RenaissanceRe in a research report on Wednesday, December 18th. JPMorgan Chase & Co. raised 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. Finally, JMP Securities reaffirmed a “market perform” rating on shares of RenaissanceRe in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, RenaissanceRe currently has an average rating of “Hold” and an average target price of $279.90.

RenaissanceRe Company 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.