First Trust Direct Indexing L.P. Purchases 168 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

First Trust Direct Indexing L.P. lifted its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 5.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,041 shares of the insurance provider’s stock after acquiring an additional 168 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in RenaissanceRe were worth $596,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Retirement Systems of Alabama raised its position in shares of RenaissanceRe by 7.2% during the fourth quarter. Retirement Systems of Alabama now owns 125,847 shares of the insurance provider’s stock worth $24,666,000 after acquiring an additional 8,441 shares during the last quarter. Earnest Partners LLC raised its position in shares of RenaissanceRe by 2.9% during the third quarter. Earnest Partners LLC now owns 548,496 shares of the insurance provider’s stock worth $108,558,000 after acquiring an additional 15,692 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of RenaissanceRe by 95.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 16,915 shares of the insurance provider’s stock worth $3,348,000 after acquiring an additional 8,281 shares during the last quarter. UBS Group AG raised its position in shares of RenaissanceRe by 44.7% during the third quarter. UBS Group AG now owns 20,913 shares of the insurance provider’s stock worth $4,139,000 after acquiring an additional 6,456 shares during the last quarter. Finally, Royal London Asset Management Ltd. raised its position in shares of RenaissanceRe by 3.6% during the third quarter. Royal London Asset Management Ltd. now owns 17,937 shares of the insurance provider’s stock worth $3,553,000 after acquiring an additional 619 shares during the last quarter. Institutional investors own 99.97% of the company’s stock.

Insider Transactions at RenaissanceRe

In other news, Director Carol P. Sanders sold 880 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $227.59, for a total transaction of $200,279.20. Following the completion of the transaction, the director now directly owns 5,363 shares of the company’s stock, valued at $1,220,565.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Robert Qutub sold 2,500 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $234.56, for a total transaction of $586,400.00. Following the completion of the transaction, the chief financial officer now directly owns 70,424 shares of the company’s stock, valued at $16,518,653.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carol P. Sanders sold 880 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $227.59, for a total value of $200,279.20. Following the transaction, the director now directly owns 5,363 shares of the company’s stock, valued at $1,220,565.17. The disclosure for this sale can be found here. 1.80% of the stock is owned by insiders.

RenaissanceRe Stock Down 0.1 %

Shares of RenaissanceRe stock opened at $218.32 on Monday. RenaissanceRe Holdings Ltd. has a 1 year low of $174.22 and a 1 year high of $239.42. The business has a 50-day moving average of $226.40 and a two-hundred day moving average of $216.33. The company has a market capitalization of $11.54 billion, a P/E ratio of 4.82, a price-to-earnings-growth ratio of 1.95 and a beta of 0.31. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.41 and a quick ratio of 1.41.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Tuesday, April 30th. The insurance provider reported $12.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.86 by $2.32. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.05 billion. RenaissanceRe had a return on equity of 27.09% and a net margin of 24.79%. The company’s revenue for the quarter was up 41.3% compared to the same quarter last year. During the same period in the prior year, the company earned $8.16 earnings per share. As a group, equities analysts predict that RenaissanceRe Holdings Ltd. will post 35.4 EPS for the current year.

RenaissanceRe Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.39 per share. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a dividend yield of 0.71%. The ex-dividend date was Thursday, March 14th. RenaissanceRe’s dividend payout ratio is currently 3.45%.

Analyst Ratings Changes

RNR has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on RenaissanceRe from $237.00 to $245.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. BMO Capital Markets upped their price objective on RenaissanceRe from $216.00 to $295.00 and gave the company an “outperform” rating in a report on Monday, February 5th. TD Cowen started coverage on RenaissanceRe in a report on Wednesday, January 10th. They issued a “market perform” rating for the company. UBS Group upped their price objective on RenaissanceRe from $229.00 to $238.00 and gave the company a “neutral” rating in a report on Monday, February 5th. Finally, Evercore ISI upped their price objective on RenaissanceRe from $216.00 to $218.00 and gave the company an “underperform” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $249.00.

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.