Integrated Wealth Concepts LLC Has $3.18 Million Holdings in RenaissanceRe Holdings Ltd. $RNR

Key Points

• Integrated Wealth Concepts LLC reduced its stake in RenaissanceRe Holdings Ltd. by 9.3%, selling 1,364 shares and leaving them with 13,266 shares valued at approximately $3.18 million.
• RenaissanceRe reported $12.29 earnings per share (EPS) for the last quarter, exceeding analysts' expectations of $10.28 EPS, although revenue fell short of estimates at $2.77 billion.
• The company announced a quarterly dividend of $0.40 per share, with an ex-dividend date of September 15th, representing an annual yield of 0.7%.

Integrated Wealth Concepts LLC lowered its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 9.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 13,266 shares of the insurance provider's stock after selling 1,364 shares during the quarter. Integrated Wealth Concepts LLC's holdings in RenaissanceRe were worth $3,184,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of RNR. Price T Rowe Associates Inc. MD lifted its stake in shares of RenaissanceRe by 37.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,496,035 shares of the insurance provider's stock worth $599,049,000 after purchasing an additional 676,125 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of RenaissanceRe by 33,487.8% in the first quarter. GAMMA Investing LLC now owns 396,000 shares of the insurance provider's stock valued at $95,040,000 after acquiring an additional 394,821 shares in the last quarter. Nuveen LLC purchased a new position in RenaissanceRe during the first quarter worth approximately $54,087,000. Cooke & Bieler LP raised its position in RenaissanceRe by 18.0% in the first quarter. Cooke & Bieler LP now owns 1,247,742 shares of the insurance provider's stock valued at $299,458,000 after purchasing an additional 190,139 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of RenaissanceRe by 15.3% in the first quarter. Dimensional Fund Advisors LP now owns 763,210 shares of the insurance provider's stock valued at $183,175,000 after buying an additional 101,060 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on RNR. Citigroup initiated coverage on RenaissanceRe in a report on Wednesday, August 13th. They set a "buy" rating and a $288.00 price target for the company. Cantor Fitzgerald upgraded RenaissanceRe to a "hold" rating in a report on Wednesday, August 13th. Keefe, Bruyette & Woods raised their price objective on RenaissanceRe from $268.00 to $269.00 and gave the stock a "market perform" rating in a report on Monday, July 28th. Barclays raised their price objective on RenaissanceRe from $256.00 to $273.00 and gave the company an "equal weight" rating in a research report on Thursday, July 24th. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating and set a $269.00 target price (up from $267.00) on shares of RenaissanceRe in a research report on Thursday, July 10th. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, RenaissanceRe presently has an average rating of "Hold" and a consensus target price of $282.09.

RenaissanceRe Stock Performance

RenaissanceRe stock traded up $3.09 on Friday, reaching $247.63. 460,105 shares of the stock were exchanged, compared to its average volume of 342,556. The firm has a fifty day moving average price of $241.59 and a two-hundred day moving average price of $241.60. The stock has a market cap of $11.65 billion, a PE ratio of 6.33, a PEG ratio of 2.40 and a beta of 0.29. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.23. RenaissanceRe Holdings Ltd. has a twelve month low of $219.00 and a twelve month high of $300.00.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $12.29 earnings per share for the quarter, topping the consensus estimate of $10.28 by $2.01. RenaissanceRe had a net margin of 15.44% and a return on equity of 15.00%. The firm had revenue of $2.77 billion for the quarter, compared to analysts' expectations of $2.96 billion. During the same period in the prior year, the firm earned $12.41 earnings per share. The company's quarterly revenue was down 2.4% compared to the same quarter last year. Sell-side analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.60 annualized dividend and a dividend yield of 0.6%. RenaissanceRe's payout ratio is presently 4.09%.

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.