Wealthquest Corp Acquires New Shares in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Wealthquest Corp acquired a new position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 2,591 shares of the insurance provider's stock, valued at approximately $622,000.

Other hedge funds have also modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new position in shares of RenaissanceRe in the 4th quarter valued at about $27,000. SBI Securities Co. Ltd. purchased a new stake in RenaissanceRe during the fourth quarter worth approximately $29,000. Jones Financial Companies Lllp increased its position 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 in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of RenaissanceRe by 71.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock valued at $39,000 after acquiring an additional 65 shares during the period. Finally, Huntington National Bank raised its stake in shares of RenaissanceRe by 179.3% in the 4th quarter. Huntington National Bank now owns 257 shares of the insurance provider's stock valued at $64,000 after acquiring an additional 165 shares during the period. 99.97% of the stock is owned by institutional investors and hedge funds.

RenaissanceRe Stock Down 1.5%

RNR traded down $3.68 during trading on Wednesday, hitting $240.51. The company had a trading volume of 302,373 shares, compared to its average volume of 443,534. RenaissanceRe Holdings Ltd. has a 1-year low of $208.98 and a 1-year high of $300.00. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 1.36. The company has a market cap of $11.70 billion, a PE ratio of 7.67, a P/E/G ratio of 2.94 and a beta of 0.31. The business has a 50-day moving average of $243.59 and a 200-day moving average of $243.87.

RenaissanceRe (NYSE:RNR - Get Free Report) last released its earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($1.17). RenaissanceRe had a return on equity of 15.90% and a net margin of 13.26%. The company had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.36 billion. During the same period in the previous year, the firm posted $12.18 EPS. RenaissanceRe's revenue for the quarter was up 7.6% on a year-over-year basis. As a group, analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.67%. The ex-dividend date is Friday, June 13th. RenaissanceRe's payout ratio is currently 5.10%.

Insider Buying and Selling at RenaissanceRe

In other RenaissanceRe news, CAO James Christopher Fraser sold 332 shares of the stock in a transaction on Wednesday, May 7th. The shares were 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 represents a 1.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on the company. JMP Securities reissued a "market perform" rating on shares of RenaissanceRe in a research report on Thursday, April 24th. Jefferies Financial Group lowered their target price on RenaissanceRe from $266.00 to $265.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Barclays dropped their target price on RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating on the stock in a report on Friday, April 11th. Morgan Stanley set a $285.00 price target on RenaissanceRe and gave the stock an "overweight" rating in a report on Monday, May 19th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of RenaissanceRe from $279.00 to $282.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, RenaissanceRe has a consensus rating of "Hold" and an average price target of $283.60.

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.