Alps Advisors Inc. Buys 3,102 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Alps Advisors Inc. raised its position in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 5.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,070 shares of the insurance provider's stock after purchasing an additional 3,102 shares during the quarter. Alps Advisors Inc. owned about 0.13% of RenaissanceRe worth $14,897,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd acquired a new stake in shares of RenaissanceRe in the 4th quarter worth approximately $27,000. SBI Securities Co. Ltd. acquired a new stake in RenaissanceRe in the fourth quarter worth approximately $29,000. Jones Financial Companies Lllp boosted its stake in RenaissanceRe by 1,587.5% during the 4th quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock valued at $34,000 after purchasing an additional 127 shares in the last quarter. Tsfg LLC bought a new stake in shares of RenaissanceRe in the 1st quarter worth $40,000. Finally, Huntington National Bank lifted its holdings in shares of RenaissanceRe by 179.3% in the fourth quarter. Huntington National Bank now owns 257 shares of the insurance provider's stock valued at $64,000 after buying an additional 165 shares during the period. Institutional investors own 99.97% of the company's stock.

RenaissanceRe Stock Down 0.5%

NYSE:RNR traded down $1.17 on Friday, hitting $237.27. 279,828 shares of the company's stock traded hands, compared to its average volume of 445,648. The company has a market cap of $11.54 billion, a PE ratio of 7.57, a price-to-earnings-growth ratio of 2.87 and a beta of 0.30. RenaissanceRe Holdings Ltd. has a 1 year low of $210.51 and a 1 year high of $300.00. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average price of $244.11 and a 200-day moving average price of $242.40.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported ($1.49) 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 company had revenue of $3.44 billion for the quarter, compared to analysts' expectations of $3.36 billion. During the same period in the previous year, the firm posted $12.18 earnings per share. The business's revenue for the quarter was up 7.6% on a year-over-year basis. Equities analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.67%. RenaissanceRe's dividend payout ratio is 5.10%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RNR. Bank of America cut their price target on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a report on Wednesday, March 26th. Barclays upgraded RenaissanceRe from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $231.00 to $256.00 in a research report on Monday. Morgan Stanley set a $285.00 target price on RenaissanceRe and gave the stock an "overweight" rating in a report on Monday, May 19th. JPMorgan Chase & Co. raised RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 target price for the company in a report on Tuesday, April 8th. Finally, Wells Fargo & Company restated an "equal weight" rating and set a $269.00 price objective (up previously from $267.00) on shares of RenaissanceRe in a report on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $288.56.

Insider Transactions at RenaissanceRe

In other news, CAO James Christopher Fraser sold 332 shares of RenaissanceRe stock in a transaction dated 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 directly owned 27,154 shares in the company, valued at $6,776,009.16. The trade was a 1.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.30% of the company's stock.

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.