Securian Asset Management Inc. Sells 129 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Securian Asset Management Inc. lessened its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,927 shares of the insurance provider’s stock after selling 129 shares during the period. Securian Asset Management Inc.’s holdings in RenaissanceRe were worth $977,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in RNR. SBI Securities Co. Ltd. bought a new position in shares of RenaissanceRe during the 4th quarter valued at about $29,000. MassMutual Private Wealth & Trust FSB boosted its holdings 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 valued at $30,000 after purchasing an additional 41 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of RenaissanceRe by 1,587.5% during 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 last quarter. 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 valued at $39,000 after purchasing an additional 65 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of RenaissanceRe by 40.0% during the 4th quarter. UMB Bank n.a. now owns 175 shares of the insurance provider’s stock valued at $44,000 after purchasing an additional 50 shares during the last quarter. Institutional investors own 99.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Jefferies Financial Group reissued a “hold” rating and set a $282.00 price objective (down previously from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. JPMorgan Chase & Co. increased 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. Barclays downgraded shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $284.00 to $234.00 in a report on Monday, January 6th. JMP Securities reaffirmed a “market perform” rating on shares of RenaissanceRe in a report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a report on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $279.90.

RenaissanceRe Stock Performance

Shares of NYSE:RNR opened at $239.63 on Friday. The firm has a market cap of $11.80 billion, a PE ratio of 6.84, a price-to-earnings-growth ratio of 2.09 and a beta of 0.38. The firm’s 50 day simple moving average is $242.19 and its 200-day simple moving average is $257.64. RenaissanceRe Holdings Ltd. has a one year low of $208.98 and a one year high of $300.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42.

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 net margin of 15.99% and a return on equity of 23.41%. As a group, equities analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.67%. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. RenaissanceRe’s dividend payout ratio (DPR) is presently 4.57%.

Insider Activity at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of RenaissanceRe 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 transaction, the executive vice president now directly owns 79,392 shares of the company’s stock, valued at $20,178,270.72. This trade represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.30% of the stock is currently owned by corporate insiders.

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.