Impact Partnership Wealth LLC Buys New Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Impact Partnership Wealth LLC purchased a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNRFree Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,035 shares of the insurance provider’s stock, valued at approximately $257,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. V Square Quantitative Management LLC boosted its stake in RenaissanceRe by 29.5% during the 3rd quarter. V Square Quantitative Management LLC now owns 180 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 41 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in shares of RenaissanceRe by 51.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 41 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of RenaissanceRe by 19.8% in the second quarter. EverSource Wealth Advisors LLC now owns 272 shares of the insurance provider’s stock worth $63,000 after acquiring an additional 45 shares during the last quarter. First Citizens Bank & Trust Co. increased its position in RenaissanceRe by 4.6% during the third quarter. First Citizens Bank & Trust Co. now owns 1,073 shares of the insurance provider’s stock worth $292,000 after acquiring an additional 47 shares during the period. Finally, UMB Bank n.a. boosted its holdings in RenaissanceRe by 40.0% in the 4th quarter. UMB Bank n.a. now owns 175 shares of the insurance provider’s stock valued at $44,000 after purchasing an additional 50 shares during the period. 99.97% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total transaction of $254,160.00. Following the transaction, the executive vice president now directly owns 79,392 shares in the company, valued at approximately $20,178,270.72. This represents a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on RNR. StockNews.com downgraded shares of RenaissanceRe from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Wells Fargo & Company cut their price target on RenaissanceRe from $301.00 to $288.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Evercore ISI lifted their price objective on RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods raised their target price on RenaissanceRe from $310.00 to $318.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Finally, JPMorgan Chase & Co. raised their price objective on shares of RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a report on Friday, January 3rd. 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $284.00.

Read Our Latest Analysis on RNR

RenaissanceRe Price Performance

Shares of RNR stock opened at $256.14 on Friday. The stock’s fifty day moving average is $261.80 and its 200-day moving average is $256.30. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.43 and a current ratio of 1.43. RenaissanceRe Holdings Ltd. has a 52 week low of $205.62 and a 52 week high of $300.00. The stock has a market capitalization of $13.30 billion, a PE ratio of 3.69, a PEG ratio of 1.90 and a beta of 0.44.

RenaissanceRe (NYSE:RNRGet Free Report) last posted 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. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.35 billion. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The company’s quarterly revenue was up 52.1% compared to the same quarter last year. During the same quarter last year, the company posted $8.33 EPS. Equities research analysts expect that RenaissanceRe Holdings Ltd. will post 42.52 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a $0.39 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.61%. RenaissanceRe’s dividend payout ratio (DPR) is currently 2.25%.

About RenaissanceRe

(Free Report)

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.

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Institutional Ownership by Quarter for RenaissanceRe (NYSE:RNR)

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