Jennison Associates LLC Grows Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Jennison Associates LLC lifted its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 22.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 533,127 shares of the insurance provider’s stock after purchasing an additional 96,322 shares during the period. Jennison Associates LLC owned about 1.04% of RenaissanceRe worth $104,493,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Global Retirement Partners LLC lifted its stake in RenaissanceRe by 519.4% in the third quarter. Global Retirement Partners LLC now owns 192 shares of the insurance provider’s stock valued at $39,000 after buying an additional 161 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new stake in RenaissanceRe in the 4th quarter valued at $38,000. Daiwa Securities Group Inc. acquired a new stake in RenaissanceRe during the 4th quarter worth $39,000. VisionPoint Advisory Group LLC purchased a new position in RenaissanceRe during the 3rd quarter worth $57,000. Finally, CWM LLC grew its position in RenaissanceRe by 200.0% during the 3rd quarter. CWM LLC now owns 636 shares of the insurance provider’s stock worth $126,000 after purchasing an additional 424 shares during the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at RenaissanceRe

In related news, Director Carol P. Sanders sold 880 shares of RenaissanceRe 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 in the company, valued at $1,220,565.17. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP David E. Marra sold 750 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $229.00, for a total transaction of $171,750.00. Following the transaction, the executive vice president now owns 79,699 shares in the company, valued at $18,251,071. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carol P. Sanders sold 880 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $227.59, for a total value of $200,279.20. Following the transaction, the director now directly owns 5,363 shares of the company’s stock, valued at $1,220,565.17. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,130 shares of company stock valued at $958,429. 1.80% of the stock is currently owned by corporate insiders.

RenaissanceRe Trading Up 0.9 %

Shares of NYSE:RNR opened at $226.82 on Tuesday. RenaissanceRe Holdings Ltd. has a fifty-two week low of $174.22 and a fifty-two week high of $239.42. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.23. The company has a market cap of $11.96 billion, a PE ratio of 4.43, a P/E/G ratio of 2.98 and a beta of 0.30. The company’s 50-day moving average price is $227.57 and its 200 day moving average price is $215.95.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data 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 return on equity of 26.93% and a net margin of 28.04%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the previous year, the firm posted $7.33 earnings per share. The business’s revenue was up 17.9% on a year-over-year basis. Sell-side analysts anticipate that RenaissanceRe Holdings Ltd. will post 34.41 earnings per share for the current year.

RenaissanceRe Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.39 dividend. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.69%. RenaissanceRe’s dividend payout ratio is presently 3.05%.

Analyst Ratings Changes

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

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.