Vest Financial LLC Makes New Investment in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Vest Financial LLC bought a new position in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,168 shares of the insurance provider's stock, valued at approximately $760,000.

A number of other institutional investors and hedge funds have also modified their holdings of RNR. Aster Capital Management DIFC Ltd bought a new stake in shares of RenaissanceRe in the fourth quarter worth $27,000. SBI Securities Co. Ltd. bought a new stake in shares of RenaissanceRe in the fourth quarter worth $29,000. Jones Financial Companies Lllp grew its holdings in shares of RenaissanceRe by 1,587.5% in the fourth quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock worth $34,000 after acquiring an additional 127 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of RenaissanceRe by 71.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock worth $39,000 after acquiring an additional 65 shares during the period. Finally, Huntington National Bank grew its holdings in shares of RenaissanceRe by 179.3% in the fourth quarter. Huntington National Bank now owns 257 shares of the insurance provider's stock worth $64,000 after acquiring an additional 165 shares during the period. Institutional investors own 99.97% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Bank of America cut their price objective on RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a report on Wednesday, March 26th. Morgan Stanley set a $285.00 price objective on RenaissanceRe and gave the stock an "overweight" rating in a report on Monday, May 19th. 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. Barclays reduced their price target on RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating for the company in a research report on Friday, April 11th. Finally, JMP Securities restated a "market perform" rating on shares of RenaissanceRe in a research report on Thursday, April 24th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, RenaissanceRe currently has an average rating of "Hold" and a consensus target price of $283.60.

Insiders Place Their Bets

In other RenaissanceRe news, CAO James Christopher Fraser sold 332 shares of the stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $249.54, for a total transaction of $82,847.28. Following the sale, the chief accounting officer now directly owns 27,154 shares of the company's stock, valued at approximately $6,776,009.16. This trade represents a 1.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is owned by company insiders.

RenaissanceRe Trading Up 1.6%

RNR opened at $246.70 on Monday. The stock has a market cap of $12.00 billion, a price-to-earnings ratio of 7.04, a P/E/G ratio of 2.09 and a beta of 0.31. The stock's 50 day moving average price is $241.42 and its 200-day moving average price is $246.85. RenaissanceRe Holdings Ltd. has a one year low of $208.98 and a one year high of $300.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42.

RenaissanceRe (NYSE:RNR - Get Free Report) last released its earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) EPS for the quarter, missing analysts' consensus estimates of ($0.32) by ($1.17). The business had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.36 billion. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. The company's quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company posted $12.18 EPS. On average, equities analysts forecast 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 Monday, June 30th. Shareholders of record on Friday, June 13th will be issued 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 0.65%. RenaissanceRe's dividend payout ratio is currently 5.10%.

About RenaissanceRe

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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