Fortis Capital Advisors LLC acquired a new position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,266 shares of the insurance provider's stock, valued at approximately $1,481,000.
A number of other large investors also recently bought and sold shares of RNR. Benedict Financial Advisors Inc. raised its position in shares of RenaissanceRe by 1.2% in the 4th quarter. Benedict Financial Advisors Inc. now owns 12,926 shares of the insurance provider's stock worth $3,634,000 after buying an additional 148 shares during the period. Seeds Investor LLC lifted its holdings in RenaissanceRe by 18.4% in the 4th quarter. Seeds Investor LLC now owns 1,261 shares of the insurance provider's stock worth $355,000 after buying an additional 196 shares in the last quarter. AE Wealth Management LLC lifted its stake in shares of RenaissanceRe by 447.9% in the fourth quarter. AE Wealth Management LLC now owns 9,500 shares of the insurance provider's stock worth $2,671,000 after acquiring an additional 7,766 shares in the last quarter. Lightrock Netherlands B.V. raised its position in shares of RenaissanceRe by 4,690.1% in the 4th quarter. Lightrock Netherlands B.V. now owns 1,017,508 shares of the insurance provider's stock valued at $286,083,000 after purchasing an additional 996,266 shares in the last quarter. Finally, CWM LLC raised its holdings in RenaissanceRe by 30.3% in the fourth quarter. CWM LLC now owns 3,554 shares of the insurance provider's stock valued at $999,000 after acquiring an additional 826 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company's stock.
Analyst Ratings Changes
Several analysts have issued reports on the company. Bank of America cut their price objective on RenaissanceRe to $426.00 and set a "buy" rating on the stock in a research note on Tuesday, April 14th. Barclays upped their target price on shares of RenaissanceRe from $310.00 to $341.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 8th. Mizuho upped their target price on shares of RenaissanceRe from $313.00 to $318.00 and gave the stock a "neutral" rating in a research report on Monday, April 13th. Wells Fargo & Company decreased their price objective on shares of RenaissanceRe from $306.00 to $305.00 and set an "equal weight" rating for the company in a report on Thursday, April 9th. Finally, Zacks Research cut shares of RenaissanceRe from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 6th. Four analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, RenaissanceRe has a consensus rating of "Hold" and an average target price of $322.64.
Check Out Our Latest Research Report on RenaissanceRe
RenaissanceRe Trading Up 0.0%
RenaissanceRe stock opened at $315.31 on Monday. RenaissanceRe Holdings Ltd. has a 52 week low of $222.75 and a 52 week high of $318.00. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.43 and a current ratio of 1.43. The firm has a market capitalization of $13.61 billion, a price-to-earnings ratio of 5.56, a P/E/G ratio of 0.73 and a beta of 0.24. The company has a 50 day moving average price of $299.92 and a 200 day moving average price of $279.12.
RenaissanceRe (NYSE:RNR - Get Free Report) last released its earnings results on Tuesday, February 3rd. The insurance provider reported $13.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.59 by $2.75. RenaissanceRe had a net margin of 20.88% and a return on equity of 18.29%. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the firm earned $8.06 EPS. The company's revenue was up 29.6% compared to the same quarter last year. Research analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.
RenaissanceRe Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis 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 payout ratio is currently 2.89%.
Insider Buying and Selling at RenaissanceRe
In other news, EVP Robert Qutub sold 5,000 shares of the firm's stock in a transaction on Friday, February 6th. The shares were sold at an average price of $305.75, for a total transaction of $1,528,750.00. Following the transaction, the executive vice president owned 73,023 shares in the company, valued at approximately $22,326,782.25. This trade represents a 6.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.30% of the company's stock.
About RenaissanceRe
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Free Report)
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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