RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC decreased its position in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 43.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd purchased a new stake in shares of RenaissanceRe during the 4th quarter worth $27,000. SBI Securities Co. Ltd. purchased a new stake in RenaissanceRe during the 4th quarter worth about $29,000. MassMutual Private Wealth & Trust FSB boosted its position 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 worth $30,000 after acquiring an additional 41 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of RenaissanceRe by 1,587.5% in the 4th quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock valued at $34,000 after acquiring an additional 127 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of RenaissanceRe by 71.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock worth $39,000 after acquiring an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on RNR. Keefe, Bruyette & Woods increased their price target 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. 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 report on Tuesday, April 8th. Morgan Stanley raised shares of RenaissanceRe from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $235.00 to $275.00 in a research report on Friday, April 25th. Barclays dropped their price objective on RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating on the stock in a report on Friday, April 11th. Finally, Bank of America reduced their target price on RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a report on Wednesday, March 26th. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $282.60.

RenaissanceRe Stock Up 2.5 %

Shares of NYSE:RNR opened at $243.05 on Friday. The stock has a 50-day simple moving average of $238.75 and a 200-day simple moving average of $250.93. The stock has a market capitalization of $11.82 billion, a P/E ratio of 6.94, a PEG ratio of 2.09 and a beta of 0.34. 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 0.19, a quick ratio of 1.42 and a current ratio of 1.42.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued 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). The company had revenue of $3.44 billion during the quarter, compared to analysts' expectations of $3.36 billion. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. RenaissanceRe's quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company earned $12.18 EPS. Equities analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.40 per share. This is a boost from RenaissanceRe's previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date was Friday, March 14th. RenaissanceRe's payout ratio is presently 5.10%.

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.

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