Versor Investments LP Invests $931,000 in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Versor Investments LP purchased a new position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,743 shares of the insurance provider’s stock, valued at approximately $931,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB boosted its position in shares of RenaissanceRe by 51.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock worth $30,000 after buying an additional 41 shares during the period. UMB Bank n.a. boosted its position in shares of RenaissanceRe by 40.0% during the fourth quarter. UMB Bank n.a. now owns 175 shares of the insurance provider’s stock worth $44,000 after buying an additional 50 shares during the period. Lifestyle Asset Management Inc. boosted its position in shares of RenaissanceRe by 1.1% during the fourth quarter. Lifestyle Asset Management Inc. now owns 4,645 shares of the insurance provider’s stock worth $1,156,000 after buying an additional 52 shares during the period. CIBC Asset Management Inc boosted its position in shares of RenaissanceRe by 3.6% during the third quarter. CIBC Asset Management Inc now owns 1,530 shares of the insurance provider’s stock worth $417,000 after buying an additional 53 shares during the period. Finally, Principal Securities Inc. boosted its position in shares of RenaissanceRe by 11.9% during the fourth quarter. Principal Securities Inc. now owns 565 shares of the insurance provider’s stock worth $141,000 after buying an additional 60 shares during the period. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was 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 in the company, valued at $20,178,270.72. This represents a 1.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on RNR shares. Wells Fargo & Company decreased their target price on RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Morgan Stanley decreased their target price on RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Keefe, Bruyette & Woods decreased their target price on RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a report on Tuesday, February 4th. Jefferies Financial Group reiterated a “hold” rating and issued a $282.00 target price (down from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. lifted their target price on RenaissanceRe from $280.00 to $284.00 and gave the company a “neutral” rating in a report on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $279.90.

RenaissanceRe Trading Up 1.2 %

Shares of RNR opened at $233.87 on Friday. The stock has a fifty day moving average of $244.23 and a two-hundred day moving average of $257.73. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42. The company has a market capitalization of $11.52 billion, a PE ratio of 6.68, a price-to-earnings-growth ratio of 2.09 and a beta of 0.43. RenaissanceRe Holdings Ltd. has a fifty-two week low of $208.98 and a fifty-two week high of $300.00.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share 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%. As a group, analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The company also recently disclosed 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.68%. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 14th. RenaissanceRe’s dividend payout ratio is presently 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.