Park Avenue Securities LLC Has $898,000 Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Park Avenue Securities LLC boosted its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 16.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,611 shares of the insurance provider’s stock after acquiring an additional 504 shares during the quarter. Park Avenue Securities LLC’s holdings in RenaissanceRe were worth $898,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of RNR. Impax Asset Management Group plc increased its position in RenaissanceRe by 32.4% in the 3rd quarter. Impax Asset Management Group plc now owns 1,697,636 shares of the insurance provider’s stock valued at $461,679,000 after acquiring an additional 415,366 shares in the last quarter. Geode Capital Management LLC increased its position in RenaissanceRe by 2.9% in the third quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider’s stock worth $250,892,000 after purchasing an additional 25,773 shares during the period. Sei Investments Co. boosted its stake in shares of RenaissanceRe by 42.4% in the 2nd quarter. Sei Investments Co. now owns 111,369 shares of the insurance provider’s stock valued at $24,892,000 after purchasing an additional 33,154 shares during the last quarter. Nepsis Inc. boosted its stake in RenaissanceRe by 6.6% in the third quarter. Nepsis Inc. now owns 97,068 shares of the insurance provider’s stock valued at $26,441,000 after acquiring an additional 5,996 shares during the last quarter. Finally, Assetmark Inc. raised its position in shares of RenaissanceRe by 115.3% during the 3rd quarter. Assetmark Inc. now owns 81,006 shares of the insurance provider’s stock valued at $22,066,000 after acquiring an additional 43,384 shares during the last quarter. Institutional investors own 99.97% of the company’s stock.

Insider Buying and Selling at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the firm’s 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 sale, the executive vice president now directly owns 79,392 shares of the company’s stock, valued at $20,178,270.72. This trade represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.80% of the company’s stock.

RenaissanceRe Stock Performance

RNR opened at $257.38 on Wednesday. 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 business has a fifty day simple moving average of $262.06 and a 200 day simple moving average of $256.06. RenaissanceRe Holdings Ltd. has a 1 year low of $205.62 and a 1 year high of $300.00. The company has a market capitalization of $13.37 billion, a PE ratio of 3.71, a price-to-earnings-growth ratio of 1.90 and a beta of 0.44.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share (EPS) 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 business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the previous year, the company posted $8.33 earnings per share. The firm’s revenue for the quarter was up 52.1% compared to the same quarter last year. Research analysts expect that RenaissanceRe Holdings Ltd. will post 42.29 EPS for the current year.

RenaissanceRe Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date was Friday, December 13th. RenaissanceRe’s payout ratio is currently 2.25%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Barclays cut RenaissanceRe from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $284.00 to $234.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. boosted their target price on RenaissanceRe from $280.00 to $284.00 and gave the company a “neutral” rating in a research note on Friday, January 3rd. Jefferies Financial Group reiterated 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 $301.00 to $288.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods increased their price target on shares of RenaissanceRe from $310.00 to $318.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $284.00.

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.