Integrated Wealth Concepts LLC Purchases 2,430 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Integrated Wealth Concepts LLC increased its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 19.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,630 shares of the insurance provider's stock after purchasing an additional 2,430 shares during the quarter. Integrated Wealth Concepts LLC's holdings in RenaissanceRe were worth $3,640,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Aster Capital Management DIFC Ltd purchased a new stake in RenaissanceRe in the 4th quarter valued at approximately $27,000. SBI Securities Co. Ltd. purchased a new stake in RenaissanceRe during the fourth quarter valued at about $29,000. MassMutual Private Wealth & Trust FSB raised its holdings in RenaissanceRe by 51.3% in the fourth 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 period. Jones Financial Companies Lllp raised its position in RenaissanceRe by 1,587.5% in the fourth quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock valued at $34,000 after purchasing an additional 127 shares during the period. Finally, Smartleaf Asset Management LLC boosted its holdings in RenaissanceRe by 71.4% in 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 during the period. Institutional investors and hedge funds own 99.97% of the company's stock.

RenaissanceRe Price Performance

Shares of RenaissanceRe stock traded down $0.22 on Wednesday, reaching $241.79. 440,168 shares of the stock were exchanged, compared to its average volume of 428,588. The firm's 50 day moving average is $238.07 and its 200-day moving average is $251.67. The firm has a market cap of $11.85 billion, a PE ratio of 6.90, a P/E/G 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 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 quarterly earnings data 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 23.41% and a net margin of 15.99%. The business had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.36 billion. During the same period in the prior year, the firm earned $12.18 EPS. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Jefferies Financial Group reduced their price objective on RenaissanceRe from $266.00 to $265.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Keefe, Bruyette & Woods upped 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. Bank of America dropped their target price on RenaissanceRe from $437.00 to $426.00 and set a "buy" rating on the stock in a report on Wednesday, March 26th. JPMorgan Chase & Co. upgraded 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. Finally, Wells Fargo & Company lowered their target price on shares of RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. 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, RenaissanceRe has a consensus rating of "Hold" and a consensus price target 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.