Beacon Pointe Advisors LLC Has $515,000 Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Beacon Pointe Advisors LLC decreased its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 43.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,069 shares of the insurance provider's stock after selling 1,568 shares during the quarter. Beacon Pointe Advisors LLC's holdings in RenaissanceRe were worth $515,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new position in RenaissanceRe in the fourth quarter valued at $27,000. SBI Securities Co. Ltd. acquired a new position in shares of RenaissanceRe in the fourth quarter worth about $29,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of RenaissanceRe by 51.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider's stock valued at $30,000 after buying an additional 41 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in RenaissanceRe by 1,587.5% during the 4th 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. Finally, Smartleaf Asset Management LLC raised its stake in RenaissanceRe by 71.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock valued at $39,000 after buying an additional 65 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company's stock.

RenaissanceRe Price Performance

Shares of NYSE:RNR traded up $0.57 during midday trading on Friday, reaching $250.50. The company's stock had a trading volume of 96,063 shares, compared to its average volume of 424,029. RenaissanceRe Holdings Ltd. has a fifty-two week low of $208.98 and a fifty-two week high of $300.00. The business's fifty day simple moving average is $239.73 and its 200-day simple moving average is $250.21. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42. The company has a market capitalization of $12.19 billion, a P/E ratio of 7.15, a P/E/G ratio of 2.09 and a beta of 0.34.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $3.44 billion for 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 firm'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. As a group, equities research analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The firm 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 dividend yield of 0.64%. The ex-dividend date of this dividend is Friday, June 13th. RenaissanceRe's dividend payout ratio (DPR) is 5.10%.

Insiders Place Their Bets

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

Analyst Ratings Changes

RNR has been the subject of several recent research reports. Keefe, Bruyette & Woods upped their target price on RenaissanceRe from $279.00 to $282.00 and gave the company an "outperform" rating in a report on Tuesday, April 29th. Bank of America lowered their price objective on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating on the stock in a research note on Wednesday, March 26th. JPMorgan Chase & Co. raised shares of RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 target price on the stock in a research note on Tuesday, April 8th. Morgan Stanley raised shares of RenaissanceRe from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $235.00 to $275.00 in a research note on Friday, April 25th. Finally, Barclays reduced their target price on shares of RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating for the company in a research note on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $282.60.

RenaissanceRe 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.