Yousif Capital Management LLC Grows Stock Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Yousif Capital Management LLC lifted its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 2.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,692 shares of the insurance provider’s stock after purchasing an additional 584 shares during the quarter. Yousif Capital Management LLC’s holdings in RenaissanceRe were worth $4,840,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC raised its position in shares of RenaissanceRe by 1.7% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 3,557 shares of the insurance provider’s stock valued at $704,000 after purchasing an additional 59 shares during the last quarter. Xponance Inc. raised its position in shares of RenaissanceRe by 1.0% in the 3rd quarter. Xponance Inc. now owns 7,590 shares of the insurance provider’s stock valued at $1,502,000 after purchasing an additional 75 shares during the last quarter. Nordea Investment Management AB raised its position in shares of RenaissanceRe by 0.5% in the 3rd quarter. Nordea Investment Management AB now owns 16,652 shares of the insurance provider’s stock valued at $3,352,000 after purchasing an additional 89 shares during the last quarter. Aviva PLC raised its position in shares of RenaissanceRe by 5.8% in the 3rd quarter. Aviva PLC now owns 1,790 shares of the insurance provider’s stock valued at $354,000 after purchasing an additional 98 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of RenaissanceRe by 1.5% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 7,810 shares of the insurance provider’s stock valued at $1,546,000 after purchasing an additional 114 shares during the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at RenaissanceRe

In other news, Director Carol P. Sanders sold 880 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $227.59, for a total transaction of $200,279.20. Following the sale, the director now directly owns 5,363 shares of the company’s stock, valued at approximately $1,220,565.17. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP David E. Marra sold 750 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $229.00, for a total transaction of $171,750.00. Following the completion of the transaction, the executive vice president now owns 79,699 shares in the company, valued at approximately $18,251,071. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Carol P. Sanders sold 880 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $227.59, for a total transaction of $200,279.20. Following the transaction, the director now owns 5,363 shares of the company’s stock, valued at approximately $1,220,565.17. The disclosure for this sale can be found here. Insiders have sold a total of 4,130 shares of company stock valued at $958,429 in the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

RenaissanceRe Trading Down 0.1 %

RNR stock opened at $219.34 on Friday. The company’s 50-day simple moving average is $226.91 and its 200-day simple moving average is $216.17. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.23. RenaissanceRe Holdings Ltd. has a 52-week low of $174.22 and a 52-week high of $239.42. The firm has a market cap of $11.56 billion, a P/E ratio of 4.28, a PEG ratio of 2.91 and a beta of 0.30.

RenaissanceRe (NYSE:RNR) last posted its earnings results on Tuesday, January 30th. The insurance provider reported $11.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.13 by $3.64. RenaissanceRe had a net margin of 28.04% and a return on equity of 26.93%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period in the prior year, the company posted $7.33 EPS. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. As a group, equities analysts forecast that RenaissanceRe Holdings Ltd. will post 34.43 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.39 per share. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a dividend yield of 0.71%. The ex-dividend date was Thursday, March 14th. RenaissanceRe’s dividend payout ratio is presently 3.05%.

Analyst Ratings Changes

Several equities analysts recently commented on RNR shares. BMO Capital Markets increased their price objective on shares of RenaissanceRe from $216.00 to $295.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. JPMorgan Chase & Co. upped their price objective on shares of RenaissanceRe from $204.00 to $237.00 and gave the company a “neutral” rating in a report on Monday, April 8th. UBS Group boosted their target price on shares of RenaissanceRe from $229.00 to $238.00 and gave the company a “neutral” rating in a research report on Monday, February 5th. TD Cowen assumed coverage on shares of RenaissanceRe in a report on Wednesday, January 10th. They issued a “market perform” rating on the stock. Finally, Evercore ISI upped their price target on shares of RenaissanceRe from $213.00 to $216.00 and gave the company an “underperform” rating in a report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $247.89.

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.