Tidal Investments LLC Boosts Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Tidal Investments LLC boosted its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 19.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,002 shares of the insurance provider's stock after acquiring an additional 1,766 shares during the quarter. Tidal Investments LLC's holdings in RenaissanceRe were worth $2,737,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB increased its position in RenaissanceRe by 51.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider's stock valued at $30,000 after acquiring an additional 41 shares during the last quarter. UMB Bank n.a. increased its position in RenaissanceRe by 40.0% during the fourth quarter. UMB Bank n.a. now owns 175 shares of the insurance provider's stock valued at $44,000 after acquiring an additional 50 shares during the last quarter. Lifestyle Asset Management Inc. increased its position in RenaissanceRe by 1.1% during the fourth quarter. Lifestyle Asset Management Inc. now owns 4,645 shares of the insurance provider's stock valued at $1,156,000 after acquiring an additional 52 shares during the last quarter. AMG National Trust Bank increased its position in RenaissanceRe by 1.3% in the fourth quarter. AMG National Trust Bank now owns 4,688 shares of the insurance provider's stock worth $1,166,000 after buying an additional 59 shares in the last quarter. Finally, Principal Securities Inc. increased its position in RenaissanceRe by 11.9% in the fourth quarter. Principal Securities Inc. now owns 565 shares of the insurance provider's stock worth $141,000 after buying an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company's stock.

Insider Activity at RenaissanceRe

In related news, CAO James Christopher Fraser sold 332 shares of the 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 directly owns 27,154 shares of the company's stock, valued at approximately $6,776,009.16. This represents a 1.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on RNR shares. Morgan Stanley upped their price target on RenaissanceRe from $275.00 to $285.00 and gave the stock an "overweight" rating in a research report on Monday. Keefe, Bruyette & Woods upped their price target on RenaissanceRe from $279.00 to $282.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. Bank of America reduced their price target on RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a research report on Wednesday, March 26th. JPMorgan Chase & Co. upgraded RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price target for the company in a research report on Tuesday, April 8th. Finally, Jefferies Financial Group reduced their price target on RenaissanceRe from $266.00 to $265.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $283.60.

RenaissanceRe Stock Performance

NYSE 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 price-to-earnings-growth ratio of 2.09 and a beta of 0.34. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average price of $240.60 and a 200-day moving average price of $248.76. RenaissanceRe Holdings Ltd. has a twelve month low of $208.98 and a twelve month high of $300.00.

RenaissanceRe (NYSE:RNR - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share for the quarter, missing analysts' consensus estimates of ($0.32) by ($1.17). The business had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.36 billion. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. The business's revenue was up 7.6% on a year-over-year basis. During the same period last year, the company earned $12.18 EPS. As a group, equities research analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

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

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.

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