Rockefeller Capital Management L.P. Acquires 225 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Rockefeller Capital Management L.P. lifted its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 1.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,750 shares of the insurance provider’s stock after purchasing an additional 225 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in RenaissanceRe were worth $3,421,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd bought a new position in RenaissanceRe in the fourth quarter valued at about $27,000. SBI Securities Co. Ltd. bought a new position in RenaissanceRe during the 4th quarter worth approximately $29,000. MassMutual Private Wealth & Trust FSB boosted its position in RenaissanceRe by 51.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 41 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of 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 purchasing an additional 127 shares during the period. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of RenaissanceRe by 71.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider’s stock worth $39,000 after buying an additional 65 shares in the last quarter. 99.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on RNR shares. Jefferies Financial Group lowered their target price on shares of RenaissanceRe from $266.00 to $265.00 and set a “hold” rating on the stock in a report on Friday, April 11th. Morgan Stanley cut their price target on shares of RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. JMP Securities reissued a “market perform” rating on shares of RenaissanceRe in a research report on Thursday, January 30th. Wells Fargo & Company lowered their price target on shares of RenaissanceRe from $277.00 to $271.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Finally, Barclays dropped their price objective on RenaissanceRe from $234.00 to $231.00 and set an “underweight” rating on the stock in a report on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $280.80.

RenaissanceRe Stock Performance

RNR stock opened at $241.09 on Friday. 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 $11.81 billion, a price-to-earnings ratio of 6.88, a PEG ratio of 2.09 and a beta of 0.29. The business’s fifty day simple moving average is $237.23 and its two-hundred day simple moving average is $253.46. 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 (NYSE:RNR) last released its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share for the quarter, topping 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%. Analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.40 per share. The ex-dividend date was Friday, March 14th. This represents a $1.60 dividend on an annualized basis and a yield of 0.66%. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s payout ratio is currently 4.57%.

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.