Schroder Investment Management Group Sells 76,579 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Schroder Investment Management Group reduced its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 76.1% during the 4th quarter, HoldingsChannel reports. The firm owned 24,042 shares of the insurance provider’s stock after selling 76,579 shares during the period. Schroder Investment Management Group’s holdings in RenaissanceRe were worth $5,982,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in RNR. FMR LLC lifted its stake in RenaissanceRe by 13.8% in the third quarter. FMR LLC now owns 2,687 shares of the insurance provider’s stock worth $732,000 after acquiring an additional 326 shares during the period. BNP Paribas Financial Markets lifted its position in shares of RenaissanceRe by 5.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,261 shares of the insurance provider’s stock worth $3,067,000 after purchasing an additional 632 shares during the period. Rockefeller Capital Management L.P. purchased a new stake in shares of RenaissanceRe in the 3rd quarter worth approximately $3,684,000. HighTower Advisors LLC increased its holdings in RenaissanceRe by 47.8% during the third quarter. HighTower Advisors LLC now owns 12,224 shares of the insurance provider’s stock valued at $3,342,000 after buying an additional 3,954 shares during the period. Finally, Integrated Wealth Concepts LLC raised its stake in RenaissanceRe by 2.5% in the third quarter. Integrated Wealth Concepts LLC now owns 12,200 shares of the insurance provider’s stock worth $3,323,000 after buying an additional 302 shares in the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

RenaissanceRe Stock Down 5.0 %

NYSE:RNR opened at $233.04 on Friday. The company’s fifty day moving average price is $238.43 and its 200-day moving average price is $255.98. The firm has a market capitalization of $11.42 billion, a P/E ratio of 6.65, a PEG ratio of 2.09 and a beta of 0.29. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42. RenaissanceRe Holdings Ltd. has a 1-year low of $208.98 and a 1-year high of $300.00.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Tuesday, January 28th. The insurance provider reported $8.06 EPS for the quarter, topping analysts’ consensus estimates 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, equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.69%. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, March 14th. RenaissanceRe’s payout ratio is 4.57%.

Insider Activity at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total value of $254,160.00. Following the completion of the transaction, the executive vice president now owns 79,392 shares in the company, valued at approximately $20,178,270.72. This represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Barclays downgraded RenaissanceRe from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $284.00 to $234.00 in a report on Monday, January 6th. Bank of America reduced their target price on shares of RenaissanceRe from $437.00 to $426.00 and set a “buy” rating for the company in a report on Wednesday, March 26th. 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 report on Friday, January 3rd. Wells Fargo & Company reduced their price objective on shares of RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Finally, JMP Securities restated a “market perform” rating on shares of RenaissanceRe in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $283.40.

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.