AE Wealth Management LLC Purchases 7,766 Shares of RenaissanceRe Holdings Ltd. $RNR

Key Points

• AE Wealth Management boosted its stake in RenaissanceRe by 447.9% in Q4, buying 7,766 shares to hold 9,500 shares worth about $2.67 million.
• RenaissanceRe topped expectations with Q4 EPS of $13.34 vs. $10.59 estimated and revenue of $2.97 billion (up 29.6% year‑over‑year), and analysts forecast roughly 38.38 EPS for the current fiscal year.
• EVP Robert Qutub sold 5,000 shares at an average of $305.75 for ~$1.53 million, reducing his stake by 6.41% to 73,023 shares (insiders own ~2.3% while institutional ownership is reported at ~99.97%).

AE Wealth Management LLC raised its position in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 447.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,500 shares of the insurance provider's stock after buying an additional 7,766 shares during the quarter. AE Wealth Management LLC's holdings in RenaissanceRe were worth $2,671,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Financial Consulate Inc. bought a new stake in shares of RenaissanceRe in the third quarter valued at $29,000. Farther Finance Advisors LLC raised its stake in shares of RenaissanceRe by 151.9% in the third quarter. Farther Finance Advisors LLC now owns 131 shares of the insurance provider's stock valued at $33,000 after buying an additional 79 shares during the period. Quarry LP raised its stake in shares of RenaissanceRe by 65.0% in the third quarter. Quarry LP now owns 132 shares of the insurance provider's stock valued at $34,000 after buying an additional 52 shares during the period. CIBC Private Wealth Group LLC raised its stake in shares of RenaissanceRe by 235.0% in the third quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider's stock valued at $34,000 after buying an additional 94 shares during the period. Finally, Root Financial Partners LLC bought a new stake in shares of RenaissanceRe in the third quarter valued at $36,000. 99.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Robert Qutub sold 5,000 shares of the business's stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $305.75, for a total transaction of $1,528,750.00. Following the completion of the transaction, the executive vice president directly owned 73,023 shares in the company, valued at $22,326,782.25. The trade was a 6.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is currently owned by insiders.

RenaissanceRe Price Performance

RenaissanceRe stock opened at $312.65 on Tuesday. RenaissanceRe Holdings Ltd. has a 52 week low of $222.75 and a 52 week high of $318.20. The business has a 50-day simple moving average of $300.40 and a 200 day simple moving average of $279.52. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.21. The stock has a market cap of $13.49 billion, a price-to-earnings ratio of 5.52, a PEG ratio of 0.73 and a beta of 0.24.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted its earnings results on Tuesday, February 3rd. The insurance provider reported $13.34 EPS for the quarter, topping the consensus estimate of $10.59 by $2.75. RenaissanceRe had a return on equity of 18.29% and a net margin of 20.88%.The business had revenue of $2.97 billion during the quarter, compared to analysts' expectations of $1.73 billion. During the same period in the previous year, the business earned $8.06 earnings per share. The firm's revenue was up 29.6% on a year-over-year basis. On average, research analysts forecast that RenaissanceRe Holdings Ltd. will post 38.38 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were given a dividend of $0.41 per share. The ex-dividend date was Friday, March 13th. This is a positive change from RenaissanceRe's previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 0.5%. RenaissanceRe's dividend payout ratio (DPR) is presently 2.89%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Zacks Research lowered RenaissanceRe from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 6th. Mizuho lifted their price target on RenaissanceRe from $313.00 to $318.00 and gave the company a "neutral" rating in a research report on Monday, April 13th. TD Cowen lifted their price target on RenaissanceRe from $280.00 to $290.00 and gave the company a "hold" rating in a research report on Thursday, February 26th. Bank of America reduced their price target on RenaissanceRe to $426.00 and set a "buy" rating for the company in a research report on Tuesday, April 14th. Finally, Morgan Stanley cut RenaissanceRe from an "overweight" rating to an "equal weight" rating and set a $310.00 price target for the company. in a research report on Thursday, February 26th. Four investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, RenaissanceRe currently has an average rating of "Hold" and a consensus price target of $322.64.

RenaissanceRe Profile

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.

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