Assetmark Inc. Has $20.53 Million Position in RenaissanceRe Holdings Ltd. $RNR

Key Points

• Assetmark Inc. reduced its Q4 stake in RenaissanceRe by 7.3% to 73,010 shares, a position worth about $20.53 million (≈0.16% of the company).
• Analyst sentiment is mixed: the consensus rating is "Hold" with a $322.64 target, though some firms raised targets (Cantor Fitzgerald to $340, Barclays to $341) while four analysts rate the stock Buy and 13 rate it Hold.
• RenaissanceRe posted a strong quarter—EPS $13.34 vs $10.59 expected and revenue up 29.6%—trades at a low P/E of 5.49, and raised its quarterly dividend to $0.41 (annualized $1.64, ~0.5% yield).

Assetmark Inc. reduced its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 7.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,010 shares of the insurance provider's stock after selling 5,707 shares during the period. Assetmark Inc. owned about 0.16% of RenaissanceRe worth $20,528,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB boosted its position in RenaissanceRe by 20.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 230 shares of the insurance provider's stock worth $65,000 after buying an additional 39 shares during the period. Exchange Traded Concepts LLC boosted its position in RenaissanceRe by 1.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 3,355 shares of the insurance provider's stock worth $852,000 after buying an additional 40 shares during the period. AMG National Trust Bank boosted its position in RenaissanceRe by 0.7% during the 3rd quarter. AMG National Trust Bank now owns 5,787 shares of the insurance provider's stock worth $1,469,000 after buying an additional 40 shares during the period. Signaturefd LLC boosted its position in RenaissanceRe by 8.9% during the 4th quarter. Signaturefd LLC now owns 504 shares of the insurance provider's stock worth $142,000 after buying an additional 41 shares during the period. Finally, Miracle Mile Advisors LLC boosted its position in RenaissanceRe by 3.8% during the 3rd quarter. Miracle Mile Advisors LLC now owns 1,257 shares of the insurance provider's stock worth $319,000 after buying an additional 46 shares during the period. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on RNR. Evercore set a $309.00 target price on shares of RenaissanceRe in a research report on Thursday, April 9th. Keefe, Bruyette & Woods lifted their target price on shares of RenaissanceRe from $323.00 to $327.00 and gave the stock a "market perform" rating in a research report on Tuesday, April 7th. Wells Fargo & Company cut their target price on shares of RenaissanceRe from $306.00 to $305.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 9th. Cantor Fitzgerald upgraded shares of RenaissanceRe from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $306.00 to $340.00 in a research report on Thursday, April 9th. Finally, Barclays raised their price target on shares of RenaissanceRe from $310.00 to $341.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 8th. Four research 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 target price of $322.64.

RenaissanceRe Stock Up 0.9%

RenaissanceRe stock opened at $311.06 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.43 and a current ratio of 1.43. RenaissanceRe Holdings Ltd. has a 52-week low of $222.75 and a 52-week high of $315.88. The firm has a 50 day moving average price of $299.46 and a two-hundred day moving average price of $278.09. The firm has a market cap of $13.42 billion, a price-to-earnings ratio of 5.49, a PEG ratio of 0.70 and a beta of 0.24.

RenaissanceRe (NYSE:RNR - Get Free Report) last released its quarterly earnings results on Tuesday, February 3rd. The insurance provider reported $13.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.59 by $2.75. RenaissanceRe had a net margin of 20.88% and a return on equity of 18.29%. The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the business earned $8.06 EPS. The company's revenue was up 29.6% compared to the same quarter last year. Equities analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

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

Insider Buying and Selling at RenaissanceRe

In other news, EVP Robert Qutub sold 5,000 shares of RenaissanceRe stock in a transaction on Friday, February 6th. The shares were sold at an average price of $305.75, for a total value of $1,528,750.00. Following the completion of the sale, the executive vice president owned 73,023 shares in the company, valued at $22,326,782.25. The trade was a 6.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.30% of the stock is owned by corporate insiders.

RenaissanceRe Company 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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