Jones Financial Companies Lllp Grows Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Jones Financial Companies Lllp boosted its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 1,587.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 135 shares of the insurance provider’s stock after buying an additional 127 shares during the quarter. Jones Financial Companies Lllp’s holdings in RenaissanceRe were worth $34,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Impax Asset Management Group plc boosted its holdings in RenaissanceRe by 10.8% in the fourth quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider’s stock valued at $466,969,000 after purchasing an additional 182,530 shares in the last quarter. Geode Capital Management LLC boosted its holdings in RenaissanceRe by 2.9% in the third quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider’s stock valued at $250,892,000 after purchasing an additional 25,773 shares in the last quarter. Nepsis Inc. boosted its holdings in RenaissanceRe by 32.9% in the fourth quarter. Nepsis Inc. now owns 128,983 shares of the insurance provider’s stock valued at $32,092,000 after purchasing an additional 31,915 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in RenaissanceRe by 3.4% in the fourth quarter. Fisher Asset Management LLC now owns 83,483 shares of the insurance provider’s stock valued at $20,771,000 after purchasing an additional 2,710 shares in the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC acquired a new stake in shares of RenaissanceRe in the third quarter valued at approximately $18,969,000. 99.97% of the stock is owned by institutional investors and hedge funds.

RenaissanceRe Price Performance

RenaissanceRe stock opened at $240.88 on Thursday. RenaissanceRe Holdings Ltd. has a 12 month low of $208.98 and a 12 month high of $300.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42. The business has a 50 day simple moving average of $241.62 and a 200-day simple moving average of $257.35. The stock has a market capitalization of $11.86 billion, a PE ratio of 6.88, a price-to-earnings-growth ratio of 2.09 and a beta of 0.38.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.94 by $1.12. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. Equities analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $0.40 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.66%. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s dividend payout ratio (DPR) is currently 4.57%.

Analysts Set New Price Targets

Several research firms have recently weighed in on RNR. Jefferies Financial Group reissued a “hold” rating and issued a $282.00 price objective (down from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. Wells Fargo & Company decreased their price objective on RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Morgan Stanley decreased their price objective on RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. JPMorgan Chase & Co. increased their price objective on RenaissanceRe from $280.00 to $284.00 and gave the company a “neutral” rating in a report on Friday, January 3rd. Finally, JMP Securities reissued a “market perform” rating on shares of RenaissanceRe in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $279.90.

Insider Activity

In other news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction on 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 $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 the SEC website. Company insiders own 1.30% of the company’s stock.

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.