Exchange Traded Concepts LLC Purchases 70 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Exchange Traded Concepts LLC raised its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 2.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,893 shares of the insurance provider’s stock after purchasing an additional 70 shares during the period. Exchange Traded Concepts LLC’s holdings in RenaissanceRe were worth $720,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Impact Partnership Wealth LLC bought a new stake in shares of RenaissanceRe during the fourth quarter worth approximately $257,000. Lifestyle Asset Management Inc. raised its position in shares of RenaissanceRe by 1.1% during the 4th quarter. Lifestyle Asset Management Inc. now owns 4,645 shares of the insurance provider’s stock valued at $1,156,000 after acquiring an additional 52 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of RenaissanceRe by 4.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 5,290 shares of the insurance provider’s stock valued at $1,316,000 after acquiring an additional 222 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of RenaissanceRe by 51.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 41 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in shares of RenaissanceRe by 40.0% during the fourth quarter. UMB Bank n.a. now owns 175 shares of the insurance provider’s stock worth $44,000 after purchasing an additional 50 shares during the period. Institutional investors own 99.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on RNR shares. Bank of America increased their target price on RenaissanceRe from $364.00 to $391.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. lifted their price objective on shares of RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a research note on Friday, January 3rd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $282.00 target price (down previously from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. Barclays lowered shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $284.00 to $234.00 in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods raised their price objective on RenaissanceRe from $310.00 to $318.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Two 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 stock. According to MarketBeat.com, RenaissanceRe has a consensus rating of “Hold” and a consensus price target of $284.00.

Insider Buying and Selling at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total transaction of $254,160.00. Following the transaction, the executive vice president now owns 79,392 shares of the company’s stock, valued at $20,178,270.72. The trade was a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.30% of the company’s stock.

RenaissanceRe Stock Performance

Shares of RenaissanceRe stock opened at $236.96 on Thursday. 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 firm has a market cap of $12.31 billion, a price-to-earnings ratio of 3.41, a price-to-earnings-growth ratio of 1.90 and a beta of 0.44. RenaissanceRe Holdings Ltd. has a one year low of $208.98 and a one year high of $300.00. The stock’s 50-day moving average is $261.17 and its 200-day moving average is $257.28.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share for the quarter, topping analysts’ consensus estimates of $6.94 by $1.12. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. Equities analysts predict that RenaissanceRe Holdings Ltd. will post 42.52 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

The firm also recently announced 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 yield of 0.66%. The ex-dividend date of this dividend was Friday, December 13th. RenaissanceRe’s dividend payout ratio (DPR) is currently 4.45%.

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.