Cetera Advisors LLC Invests $201,000 in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Cetera Advisors LLC acquired a new position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 856 shares of the insurance provider’s stock, valued at approximately $201,000.

Several other institutional investors and hedge funds also recently bought and sold shares of RNR. Atria Investments Inc purchased a new position in shares of RenaissanceRe during the 1st quarter valued at $1,168,000. Delphi Management Inc. MA purchased a new position in RenaissanceRe in the first quarter valued at about $1,728,000. Tidal Investments LLC raised its stake in shares of RenaissanceRe by 94.8% during the 1st quarter. Tidal Investments LLC now owns 7,937 shares of the insurance provider’s stock worth $1,865,000 after purchasing an additional 3,863 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in shares of RenaissanceRe during the 1st quarter worth about $259,000. Finally, Earnest Partners LLC lifted its holdings in shares of RenaissanceRe by 6.1% during the 1st quarter. Earnest Partners LLC now owns 578,139 shares of the insurance provider’s stock valued at $135,880,000 after buying an additional 33,448 shares during the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Performance

RNR opened at $240.58 on Monday. RenaissanceRe Holdings Ltd. has a 12-month low of $174.22 and a 12-month high of $241.53. The firm has a market capitalization of $12.55 billion, a P/E ratio of 5.32, a price-to-earnings-growth ratio of 1.30 and a beta of 0.38. The stock’s 50 day moving average price is $225.58 and its two-hundred day moving average price is $226.16. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Wednesday, July 24th. The insurance provider reported $12.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.88 by $1.53. The business had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.93 billion. RenaissanceRe had a net margin of 25.38% and a return on equity of 27.74%. On average, equities analysts forecast that RenaissanceRe Holdings Ltd. will post 38.92 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend is Friday, September 13th. RenaissanceRe’s payout ratio is presently 3.45%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Evercore ISI raised their price objective on shares of RenaissanceRe from $216.00 to $218.00 and gave the company an “underperform” rating in a research report on Wednesday, May 1st. Bank of America upped their price objective on shares of RenaissanceRe from $334.00 to $347.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. UBS Group cut their target price on RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Wells Fargo & Company decreased their price target on RenaissanceRe from $288.00 to $280.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. Finally, Morgan Stanley lowered their price objective on RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, RenaissanceRe has an average rating of “Hold” and an average price target of $263.40.

Insider Buying and Selling

In other RenaissanceRe news, CFO Robert Qutub sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $224.56, for a total value of $561,400.00. Following the completion of the transaction, the chief financial officer now owns 73,915 shares of the company’s stock, valued at approximately $16,598,352.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other RenaissanceRe news, CFO Robert Qutub sold 2,500 shares of RenaissanceRe stock in a transaction on Friday, July 26th. The shares were sold at an average price of $224.56, for a total transaction of $561,400.00. Following the sale, the chief financial officer now owns 73,915 shares in the company, valued at $16,598,352.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $230.00, for a total transaction of $230,000.00. Following the completion of the sale, the executive vice president now directly owns 85,544 shares in the company, valued at approximately $19,675,120. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

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.