Yorktown Management & Research Co Inc Takes $348,000 Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Yorktown Management & Research Co Inc acquired a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,450 shares of the insurance provider's stock, valued at approximately $348,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of RNR. Principal Securities Inc. lifted its position in RenaissanceRe by 11.9% during the 4th quarter. Principal Securities Inc. now owns 565 shares of the insurance provider's stock worth $141,000 after buying an additional 60 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of RenaissanceRe by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 1,610 shares of the insurance provider's stock worth $401,000 after purchasing an additional 80 shares in the last quarter. Private Advisor Group LLC grew its stake in shares of RenaissanceRe by 11.7% during the fourth quarter. Private Advisor Group LLC now owns 2,851 shares of the insurance provider's stock valued at $709,000 after purchasing an additional 298 shares during the last quarter. Handelsbanken Fonder AB grew its stake in shares of RenaissanceRe by 6.5% during the fourth quarter. Handelsbanken Fonder AB now owns 13,100 shares of the insurance provider's stock valued at $3,259,000 after purchasing an additional 800 shares during the last quarter. Finally, Impax Asset Management Group plc increased its holdings in shares of RenaissanceRe by 10.8% in the fourth quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider's stock valued at $466,969,000 after purchasing an additional 182,530 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company's stock.

Insider Buying and Selling

In related news, CAO James Christopher Fraser sold 332 shares of the company's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $249.54, for a total transaction of $82,847.28. Following the completion of the sale, the chief accounting officer now directly owns 27,154 shares in the company, valued at $6,776,009.16. This represents a 1.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is currently owned by company insiders.

RenaissanceRe Stock Performance

Shares of NYSE RNR traded down $0.83 during mid-day trading on Tuesday, reaching $244.07. 659,112 shares of the company were exchanged, compared to its average volume of 443,274. The stock has a market capitalization of $11.87 billion, a P/E ratio of 7.79, a P/E/G ratio of 2.93 and a beta of 0.31. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.29. RenaissanceRe Holdings Ltd. has a twelve month low of $208.98 and a twelve month high of $300.00. The company's 50-day simple moving average is $243.47 and its 200-day simple moving average is $243.87.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.32) by ($1.17). RenaissanceRe had a net margin of 13.26% and a return on equity of 15.90%. The business had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.36 billion. During the same period in the previous year, the firm posted $12.18 EPS. The company's revenue was up 7.6% compared to the same quarter last year. As a group, research analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Friday, June 13th. RenaissanceRe's dividend payout ratio (DPR) is presently 5.10%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wells Fargo & Company lowered their target price on RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Keefe, Bruyette & Woods lifted their price objective on shares of RenaissanceRe from $279.00 to $282.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. Bank of America dropped their price target on RenaissanceRe from $437.00 to $426.00 and set a "buy" rating on the stock in a research report on Wednesday, March 26th. JPMorgan Chase & Co. raised shares of RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 target price for the company in a research note on Tuesday, April 8th. Finally, Jefferies Financial Group lowered their price objective on shares of RenaissanceRe from $266.00 to $265.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six 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 a consensus target price of $283.60.

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.