OneDigital Investment Advisors LLC Purchases New Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

OneDigital Investment Advisors LLC acquired a new position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,303 shares of the insurance provider's stock, valued at approximately $1,568,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Impax Asset Management Group plc increased its position in RenaissanceRe by 10.8% during the fourth quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider's stock worth $466,969,000 after buying an additional 182,530 shares during the last quarter. World Investment Advisors LLC acquired a new position in shares of RenaissanceRe during the 3rd quarter valued at about $16,176,000. Trexquant Investment LP acquired a new position in shares of RenaissanceRe during the 4th quarter valued at about $561,000. Barclays PLC lifted its holdings in RenaissanceRe by 57.1% in the 3rd quarter. Barclays PLC now owns 22,923 shares of the insurance provider's stock worth $6,244,000 after purchasing an additional 8,333 shares during the last quarter. Finally, Franklin Resources Inc. acquired a new stake in RenaissanceRe in the 4th quarter worth approximately $1,086,000. Hedge funds and other institutional investors own 99.97% of the company's stock.

RenaissanceRe Stock Performance

RenaissanceRe stock traded down $2.98 on Wednesday, hitting $239.03. The company's stock had a trading volume of 88,035 shares, compared to its average volume of 427,283. The company has a fifty day moving average price of $238.07 and a 200-day moving average price of $251.67. The firm has a market cap of $11.71 billion, a P/E ratio of 6.83, a price-to-earnings-growth ratio of 2.09 and a beta of 0.29. RenaissanceRe Holdings Ltd. has a one year low of $208.98 and a one year high of $300.00. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19.

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

RenaissanceRe Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Friday, March 14th. This is an increase from RenaissanceRe's previous quarterly dividend of $0.39. RenaissanceRe's dividend payout ratio (DPR) is 5.10%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RNR. Bank of America dropped their price target on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating on the stock in a research report on Wednesday, March 26th. Morgan Stanley upgraded shares of RenaissanceRe from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $235.00 to $275.00 in a report on Friday, April 25th. JPMorgan Chase & Co. raised RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price target on the stock in a research report on Tuesday, April 8th. Jefferies Financial Group lowered their target price on RenaissanceRe from $266.00 to $265.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Finally, JMP Securities reissued a "market perform" rating on shares of RenaissanceRe in a report on Thursday, April 24th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $282.60.

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.