Edgestream Partners L.P. Has $1.49 Million Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Edgestream Partners L.P. boosted its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 36.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,226 shares of the insurance provider's stock after acquiring an additional 1,672 shares during the quarter. Edgestream Partners L.P.'s holdings in RenaissanceRe were worth $1,494,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of RNR. Aster Capital Management DIFC Ltd acquired a new stake in shares of RenaissanceRe during the 4th quarter valued at about $27,000. Tsfg LLC bought a new position in shares of RenaissanceRe in the 1st quarter valued at approximately $40,000. LRI Investments LLC raised its stake in shares of RenaissanceRe by 116.5% in the 1st quarter. LRI Investments LLC now owns 262 shares of the insurance provider's stock valued at $63,000 after acquiring an additional 141 shares in the last quarter. Huntington National Bank raised its stake in shares of RenaissanceRe by 179.3% in the 4th quarter. Huntington National Bank now owns 257 shares of the insurance provider's stock valued at $64,000 after acquiring an additional 165 shares in the last quarter. Finally, UMB Bank n.a. increased its position in RenaissanceRe by 165.1% in the 1st quarter. UMB Bank n.a. now owns 464 shares of the insurance provider's stock worth $111,000 after buying an additional 289 shares during the period. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO James Christopher Fraser sold 332 shares of the 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 transaction, the chief accounting officer directly owned 27,154 shares in the company, valued at approximately $6,776,009.16. This trade represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on RNR. Morgan Stanley dropped their price target on RenaissanceRe from $285.00 to $280.00 and set an "overweight" rating on the stock in a research report on Monday, July 14th. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $268.00 price objective (down previously from $282.00) on shares of RenaissanceRe in a report on Wednesday, July 9th. JMP Securities reissued a "market perform" rating on shares of RenaissanceRe in a report on Thursday, April 24th. Bank of America decreased their price objective on RenaissanceRe from $437.00 to $426.00 and set a "buy" rating on the stock in a report on Wednesday, March 26th. Finally, Wells Fargo & Company reissued 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, July 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $288.00.

RenaissanceRe Stock Down 1.3%

Shares of NYSE RNR traded down $3.11 during mid-day trading on Friday, reaching $235.89. 347,357 shares of the company's stock were exchanged, compared to its average volume of 449,800. The firm has a market capitalization of $11.48 billion, a price-to-earnings ratio of 7.52, a PEG ratio of 2.76 and a beta of 0.30. 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 business has a fifty day simple moving average of $242.92 and a 200 day simple moving average of $241.85. RenaissanceRe Holdings Ltd. has a twelve month low of $210.51 and a twelve month high of $300.00.

RenaissanceRe (NYSE:RNR - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) EPS for the quarter, missing analysts' consensus estimates of ($0.32) by ($1.17). The business had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.36 billion. RenaissanceRe had a return on equity of 15.90% and a net margin of 13.26%. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business earned $12.18 EPS. As a group, equities analysts expect 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 was Friday, June 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.68%. RenaissanceRe's payout ratio is presently 5.10%.

About RenaissanceRe

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.