3,800 Shares in RenaissanceRe Holdings Ltd. (NYSE:RNR) Bought by Avior Wealth Management LLC

Avior Wealth Management LLC purchased a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,800 shares of the insurance provider's stock, valued at approximately $745,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Zimmer Partners LP purchased a new stake in RenaissanceRe in the 2nd quarter worth approximately $75,541,000. Balyasny Asset Management L.P. increased its holdings in RenaissanceRe by 340.4% in the 1st quarter. Balyasny Asset Management L.P. now owns 373,468 shares of the insurance provider's stock worth $74,821,000 after acquiring an additional 288,657 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in RenaissanceRe by 20.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,451,530 shares of the insurance provider's stock worth $287,287,000 after acquiring an additional 249,196 shares in the last quarter. Norges Bank purchased a new stake in RenaissanceRe in the 4th quarter worth approximately $40,533,000. Finally, AQR Capital Management LLC increased its holdings in RenaissanceRe by 226.8% in the 3rd quarter. AQR Capital Management LLC now owns 280,666 shares of the insurance provider's stock worth $55,549,000 after acquiring an additional 194,774 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company's stock.

Insiders Place Their Bets

In other RenaissanceRe news, EVP David E. Marra sold 750 shares of RenaissanceRe stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $229.00, for a total value of $171,750.00. Following the transaction, the executive vice president now owns 79,699 shares in the company, valued at $18,251,071. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other RenaissanceRe news, EVP David E. Marra sold 750 shares of RenaissanceRe stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $229.00, for a total value of $171,750.00. Following the transaction, the executive vice president now owns 79,699 shares in the company, valued at $18,251,071. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carol P. Sanders sold 880 shares of RenaissanceRe stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $227.59, for a total value of $200,279.20. Following the completion of the transaction, the director now owns 5,363 shares in the company, valued at approximately $1,220,565.17. The disclosure for this sale can be found here. Insiders sold 4,130 shares of company stock valued at $958,429 over the last three months. 1.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RNR. UBS Group upped their price target on RenaissanceRe from $229.00 to $238.00 and gave the stock a "neutral" rating in a research note on Monday, February 5th. Evercore ISI increased their price objective on shares of RenaissanceRe from $213.00 to $216.00 and gave the company an "underperform" rating in a report on Thursday, April 11th. JPMorgan Chase & Co. increased their price objective on shares of RenaissanceRe from $204.00 to $237.00 and gave the company a "neutral" rating in a report on Monday, April 8th. BMO Capital Markets increased their price objective on shares of RenaissanceRe from $216.00 to $295.00 and gave the company an "outperform" rating in a report on Monday, February 5th. Finally, TD Cowen assumed coverage on shares of RenaissanceRe in a report on Wednesday, January 10th. They set a "market perform" rating for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $247.89.

RenaissanceRe Price Performance

Shares of RNR stock traded up $6.59 on Thursday, reaching $222.99. The company's stock had a trading volume of 494,549 shares, compared to its average volume of 364,102. The stock's fifty day simple moving average is $227.58 and its 200-day simple moving average is $215.39. RenaissanceRe Holdings Ltd. has a 1 year low of $174.22 and a 1 year high of $239.42. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $11.75 billion, a price-to-earnings ratio of 4.35, a price-to-earnings-growth ratio of 2.85 and a beta of 0.30.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted its quarterly earnings data on Tuesday, January 30th. The insurance provider reported $11.77 EPS for the quarter, topping the consensus estimate of $8.13 by $3.64. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.83 billion. RenaissanceRe had a net margin of 28.04% and a return on equity of 26.93%. RenaissanceRe's quarterly revenue was up 17.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $7.33 earnings per share. Analysts forecast that RenaissanceRe Holdings Ltd. will post 34.41 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.70%. This is a positive change from RenaissanceRe's previous quarterly dividend of $0.38. The ex-dividend date was Thursday, March 14th. RenaissanceRe's payout ratio is presently 3.05%.

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.