Signal Advisors Wealth LLC Invests $1.47 Million in RenaissanceRe Holdings Ltd. $RNR

Key Points

• Signal Advisors Wealth LLC has made a new investment of approximately $1.47 million in RenaissanceRe Holdings Ltd., purchasing 6,039 shares during the second quarter.
• The latest earnings report showed that RenaissanceRe achieved earnings of $12.29 per share, exceeding consensus estimates of $10.28, although quarterly revenue decreased by 2.4% year-over-year.
• The company declared a quarterly dividend of $0.40, resulting in an annualized yield of 0.7%, with the ex-dividend date set for September 15th.

Signal Advisors Wealth LLC bought a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 6,039 shares of the insurance provider's stock, valued at approximately $1,467,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brooklyn Investment Group raised its holdings in RenaissanceRe by 151.7% in the 1st quarter. Brooklyn Investment Group now owns 146 shares of the insurance provider's stock worth $35,000 after acquiring an additional 88 shares during the period. Tsfg LLC acquired a new stake in RenaissanceRe in the 1st quarter valued at about $40,000. MassMutual Private Wealth & Trust FSB boosted its holdings in RenaissanceRe by 43.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 186 shares of the insurance provider's stock valued at $45,000 after acquiring an additional 56 shares during the last quarter. LRI Investments LLC grew its holdings in RenaissanceRe by 116.5% during the 1st quarter. LRI Investments LLC now owns 262 shares of the insurance provider's stock worth $63,000 after acquiring an additional 141 shares during the period. Finally, Advisors Asset Management Inc. raised its position in shares of RenaissanceRe by 10.5% in the 1st quarter. Advisors Asset Management Inc. now owns 441 shares of the insurance provider's stock valued at $106,000 after acquiring an additional 42 shares during the period. Hedge funds and other institutional investors own 99.97% of the company's stock.

RenaissanceRe Stock Down 0.1%

Shares of NYSE:RNR traded down $0.29 during trading on Monday, reaching $242.73. 321,712 shares of the stock traded hands, compared to its average volume of 438,773. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.36 and a current ratio of 1.36. The stock has a market cap of $11.43 billion, a P/E ratio of 6.20, a price-to-earnings-growth ratio of 2.38 and a beta of 0.29. The stock has a 50-day moving average of $241.88 and a two-hundred day moving average of $241.62. RenaissanceRe Holdings Ltd. has a 52-week low of $219.00 and a 52-week high of $300.00.

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

RenaissanceRe Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.7%. RenaissanceRe's dividend payout ratio is presently 4.09%.

Analyst Ratings Changes

Several brokerages have commented on RNR. Wolfe Research began coverage on shares of RenaissanceRe in a research report on Monday, September 15th. They set a "peer perform" rating on the stock. Barclays increased their price objective on shares of RenaissanceRe from $256.00 to $273.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 24th. Keefe, Bruyette & Woods raised their price objective on RenaissanceRe from $268.00 to $269.00 and gave the company a "market perform" rating in a report on Monday, July 28th. Citigroup began coverage on RenaissanceRe in a research report on Wednesday, August 13th. They set a "buy" rating and a $288.00 price objective for the company. Finally, Wells Fargo & Company reiterated an "equal weight" rating and set a $269.00 target price (up previously from $267.00) on shares of RenaissanceRe in a research report on Thursday, July 10th. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $282.09.

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.