Avior Wealth Management LLC Purchases New Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Avior Wealth Management LLC purchased a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,800 shares of the insurance provider’s stock, valued at approximately $745,000.

Several other large investors have also added to or reduced their stakes in RNR. Earnest Partners LLC increased its stake in RenaissanceRe by 2.9% in the 3rd quarter. Earnest Partners LLC now owns 548,496 shares of the insurance provider’s stock valued at $108,558,000 after buying an additional 15,692 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in RenaissanceRe by 95.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 16,915 shares of the insurance provider’s stock valued at $3,348,000 after buying an additional 8,281 shares during the last quarter. Manning & Napier Group LLC increased its stake in RenaissanceRe by 67.3% in the 3rd quarter. Manning & Napier Group LLC now owns 122,963 shares of the insurance provider’s stock valued at $24,337,000 after buying an additional 49,475 shares during the last quarter. UBS Group AG increased its stake in RenaissanceRe by 44.7% in the 3rd quarter. UBS Group AG now owns 20,913 shares of the insurance provider’s stock valued at $4,139,000 after buying an additional 6,456 shares during the last quarter. Finally, Royal London Asset Management Ltd. increased its stake in RenaissanceRe by 3.6% in the 3rd quarter. Royal London Asset Management Ltd. now owns 17,937 shares of the insurance provider’s stock valued at $3,553,000 after buying an additional 619 shares during the last quarter. Institutional investors own 99.97% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. 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 research note on Monday, April 8th. 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 research note on Thursday, April 11th. BMO Capital Markets raised their price target on shares of RenaissanceRe from $216.00 to $295.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. TD Cowen assumed coverage on shares of RenaissanceRe in a research note on Wednesday, January 10th. They set a “market perform” rating for the company. Finally, UBS Group raised their price target on shares of RenaissanceRe from $229.00 to $238.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $247.89.

RenaissanceRe Stock Up 0.6 %

RenaissanceRe stock opened at $216.40 on Thursday. The firm has a 50 day simple moving average of $227.65 and a 200 day simple moving average of $215.34. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.23. RenaissanceRe Holdings Ltd. has a 1-year low of $174.22 and a 1-year high of $239.42. The firm has a market capitalization of $11.41 billion, a price-to-earnings ratio of 4.22, a P/E/G ratio of 2.85 and a beta of 0.30.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Tuesday, January 30th. The insurance provider reported $11.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.13 by $3.64. RenaissanceRe had a net margin of 28.04% and a return on equity of 26.93%. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the previous year, the firm posted $7.33 EPS. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. On average, analysts predict that RenaissanceRe Holdings Ltd. will post 34.41 earnings per share for the current year.

RenaissanceRe Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.39 per share. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.72%. RenaissanceRe’s payout ratio is presently 3.05%.

Insider Buying and Selling at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 750 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $229.00, for a total transaction of $171,750.00. Following the sale, the executive vice president now owns 79,699 shares of the company’s stock, valued at approximately $18,251,071. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other RenaissanceRe news, EVP David E. Marra sold 750 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $229.00, for a total transaction of $171,750.00. Following the sale, the executive vice president now owns 79,699 shares of the company’s stock, valued at approximately $18,251,071. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carol P. Sanders sold 880 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $227.59, for a total transaction of $200,279.20. Following the sale, the director now directly owns 5,363 shares in the company, valued at approximately $1,220,565.17. The disclosure for this sale can be found here. Insiders have sold 4,130 shares of company stock valued at $958,429 in the last 90 days. 1.30% of the stock is currently owned by company insiders.

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.