Focus Partners Wealth Buys New Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Focus Partners Wealth bought a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 1,521 shares of the insurance provider's stock, valued at approximately $378,000.

Several other hedge funds have also modified their holdings of the stock. MassMutual Private Wealth & Trust FSB raised its holdings in shares of RenaissanceRe by 51.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider's stock valued at $30,000 after buying an additional 41 shares during the period. UMB Bank n.a. raised its holdings in shares of RenaissanceRe by 40.0% during the 4th quarter. UMB Bank n.a. now owns 175 shares of the insurance provider's stock valued at $44,000 after buying an additional 50 shares during the period. Lifestyle Asset Management Inc. raised its holdings in shares of RenaissanceRe by 1.1% during the 4th quarter. Lifestyle Asset Management Inc. now owns 4,645 shares of the insurance provider's stock valued at $1,156,000 after buying an additional 52 shares during the period. AMG National Trust Bank raised its holdings in shares of RenaissanceRe by 1.3% during the 4th quarter. AMG National Trust Bank now owns 4,688 shares of the insurance provider's stock valued at $1,166,000 after buying an additional 59 shares during the period. Finally, Principal Securities Inc. raised its holdings in shares of RenaissanceRe by 11.9% during the 4th quarter. Principal Securities Inc. now owns 565 shares of the insurance provider's stock valued at $141,000 after buying an additional 60 shares during the period. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at RenaissanceRe

In related news, CAO James Christopher Fraser sold 332 shares of the business's stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 27,154 shares in the company, valued at $6,776,009.16. The trade was a 1.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RNR. Barclays dropped their price objective on RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating on the stock in a report on Friday, April 11th. Morgan Stanley lifted their price objective on RenaissanceRe from $275.00 to $285.00 and gave the stock an "overweight" rating in a report on Monday. Keefe, Bruyette & Woods lifted their price objective on RenaissanceRe from $279.00 to $282.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. JPMorgan Chase & Co. upgraded RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price objective on the stock in a report on Tuesday, April 8th. Finally, Bank of America dropped 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. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $283.60.

RenaissanceRe Price Performance

Shares of RNR opened at $244.27 on Thursday. The firm has a market cap of $11.88 billion, a price-to-earnings ratio of 6.98, a PEG ratio of 2.09 and a beta of 0.34. The stock has a 50 day moving average of $240.60 and a 200-day moving average of $248.76. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19. RenaissanceRe Holdings Ltd. has a 52 week low of $208.98 and a 52 week high of $300.00.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) EPS for the quarter, missing the consensus estimate of ($0.32) by ($1.17). The firm had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.36 billion. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. RenaissanceRe's revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $12.18 EPS. As a group, analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Dividend Announcement

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

RenaissanceRe 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.

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