Pacer Advisors Inc. Increases Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Pacer Advisors Inc. raised its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 1.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 7,741 shares of the insurance provider’s stock after purchasing an additional 95 shares during the period. Pacer Advisors Inc.’s holdings in RenaissanceRe were worth $1,926,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC lifted its holdings in RenaissanceRe by 29.5% in the 3rd quarter. V Square Quantitative Management LLC now owns 180 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 41 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised 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 worth $30,000 after acquiring an additional 41 shares during the period. First Citizens Bank & Trust Co. raised its holdings in shares of RenaissanceRe by 4.6% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 1,073 shares of the insurance provider’s stock worth $292,000 after acquiring an additional 47 shares during the period. UMB Bank n.a. raised 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 worth $44,000 after acquiring an additional 50 shares during the period. Finally, Lifestyle Asset Management Inc. raised its holdings in shares of RenaissanceRe by 1.1% during the 4th quarter. Lifestyle Asset Management Inc. now owns 4,645 shares of the insurance provider’s stock worth $1,156,000 after acquiring an additional 52 shares during the period. Hedge funds and other institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Performance

NYSE RNR opened at $232.52 on Friday. The company has a market cap of $12.08 billion, a P/E ratio of 6.64, a P/E/G ratio of 1.75 and a beta of 0.44. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.43 and a quick ratio of 1.43. The stock has a 50-day moving average of $259.85 and a two-hundred day moving average of $257.40. RenaissanceRe Holdings Ltd. has a 1-year low of $208.98 and a 1-year high of $300.00.

RenaissanceRe (NYSE:RNR) last released its 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 23.51% and a net margin of 15.99%. As a group, analysts anticipate that RenaissanceRe Holdings Ltd. will post 34.22 EPS for the current year.

RenaissanceRe Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Friday, December 13th. RenaissanceRe’s payout ratio is presently 4.45%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RNR. StockNews.com lowered RenaissanceRe from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their price target on RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a report on Friday, January 3rd. Jefferies Financial Group reiterated a “hold” rating and set a $282.00 price target (down previously from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. Barclays downgraded RenaissanceRe from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $284.00 to $234.00 in a research report on Monday, January 6th. Finally, JMP Securities reissued a “market perform” rating on shares of RenaissanceRe in a research report on Thursday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $283.45.

Insider Activity

In other news, EVP David E. Marra sold 1,000 shares of RenaissanceRe 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 transaction, the executive vice president now owns 79,392 shares in the company, valued at approximately $20,178,270.72. This trade represents a 1.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.30% of the company’s stock.

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.