RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Acquired by Impax Asset Management Group plc

Impax Asset Management Group plc raised its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 10.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,880,166 shares of the insurance provider’s stock after buying an additional 182,530 shares during the period. RenaissanceRe accounts for 2.1% of Impax Asset Management Group plc’s holdings, making the stock its 7th largest holding. Impax Asset Management Group plc’s holdings in RenaissanceRe were worth $466,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Creative Planning boosted its holdings in shares of RenaissanceRe by 71.8% during the 3rd quarter. Creative Planning now owns 2,383 shares of the insurance provider’s stock valued at $649,000 after acquiring an additional 996 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of RenaissanceRe by 184.1% during the third quarter. Blue Trust Inc. now owns 321 shares of the insurance provider’s stock valued at $87,000 after purchasing an additional 208 shares in the last quarter. Raymond James & Associates grew its holdings in shares of RenaissanceRe by 59.3% during the third quarter. Raymond James & Associates now owns 26,968 shares of the insurance provider’s stock worth $7,346,000 after purchasing an additional 10,039 shares during the last quarter. Foundations Investment Advisors LLC acquired a new position in shares of RenaissanceRe in the third quarter valued at approximately $207,000. Finally, Signaturefd LLC raised its holdings in RenaissanceRe by 45.9% in the 3rd quarter. Signaturefd LLC now owns 445 shares of the insurance provider’s stock valued at $121,000 after buying an additional 140 shares during the last quarter. Institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Down 1.0 %

Shares of RenaissanceRe stock opened at $226.53 on Monday. The firm has a market cap of $11.16 billion, a price-to-earnings ratio of 6.47, a PEG ratio of 2.09 and a beta of 0.43. The stock’s 50-day moving average is $245.82 and its 200 day moving average is $258.14. 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 one year low of $208.98 and a one year high of $300.00.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 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%. Equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.40 dividend. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 0.71%. The ex-dividend date is Friday, March 14th. RenaissanceRe’s payout ratio is 4.45%.

Insider Transactions at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total value of $254,160.00. Following the completion of the sale, the executive vice president now directly owns 79,392 shares of the company’s stock, valued at $20,178,270.72. The trade was a 1.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RNR. Evercore ISI boosted their target price on shares of RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a report on Thursday, November 7th. Jefferies Financial Group reissued a “hold” rating and issued a $282.00 price objective (down previously from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. JMP Securities reaffirmed a “market perform” rating on shares of RenaissanceRe in a research report on Thursday, January 30th. JPMorgan Chase & Co. upped their price target on RenaissanceRe from $280.00 to $284.00 and gave the company a “neutral” rating in a research report on Friday, January 3rd. Finally, Keefe, Bruyette & Woods lowered their price objective on RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a research report on Tuesday, February 4th. Two 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. Based on data from MarketBeat.com, RenaissanceRe has a consensus rating of “Hold” and a consensus target price of $279.90.

RenaissanceRe 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.