HB Wealth Management LLC Acquires 608 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

HB Wealth Management LLC raised its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 14.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 4,811 shares of the insurance provider’s stock after purchasing an additional 608 shares during the quarter. HB Wealth Management LLC’s holdings in RenaissanceRe were worth $1,197,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Intech Investment Management LLC grew its stake in shares of RenaissanceRe by 52.9% during the second quarter. Intech Investment Management LLC now owns 7,193 shares of the insurance provider’s stock worth $1,608,000 after purchasing an additional 2,490 shares during the period. Algert Global LLC acquired a new position in shares of RenaissanceRe during the 2nd quarter worth about $1,186,000. Rockefeller Capital Management L.P. bought a new stake in shares of RenaissanceRe in the 3rd quarter valued at about $3,684,000. Fisher Asset Management LLC boosted its stake in RenaissanceRe by 12.3% during the 3rd quarter. Fisher Asset Management LLC now owns 80,773 shares of the insurance provider’s stock worth $22,003,000 after acquiring an additional 8,844 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in RenaissanceRe by 2.9% during 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 during the period. Institutional investors and hedge funds own 99.97% of the company’s stock.

Insider Activity at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction dated Wednesday, January 15th. The shares were 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 of the company’s stock, valued at $20,178,270.72. This trade represents a 1.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.80% of the stock is owned by company insiders.

RenaissanceRe Stock Performance

Shares of RNR opened at $257.38 on Tuesday. The stock has a market capitalization of $13.37 billion, a price-to-earnings ratio of 3.71, a PEG ratio of 1.79 and a beta of 0.44. RenaissanceRe Holdings Ltd. has a 12 month low of $203.35 and a 12 month high of $300.00. The firm has a fifty day simple moving average of $262.19 and a 200 day simple moving average of $255.73. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.18.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share for the quarter, beating the consensus estimate of $7.89 by $2.34. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter last year, the company earned $8.33 EPS. RenaissanceRe’s revenue for the quarter was up 52.1% compared to the same quarter last year. Research analysts forecast that RenaissanceRe Holdings Ltd. will post 42.29 EPS for the current fiscal 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 issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend was Friday, December 13th. RenaissanceRe’s payout ratio is presently 2.25%.

Wall Street Analyst Weigh In

RNR has been the topic of several analyst reports. StockNews.com lowered shares of RenaissanceRe from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Evercore ISI lifted their target price on RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a report on Thursday, November 7th. Jefferies Financial Group restated a “hold” rating and issued a $282.00 price target (down from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. Bank of America lifted their price objective on RenaissanceRe from $364.00 to $391.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. increased their target price on RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a research note on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $284.00.

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.