Benedict Financial Advisors Inc. Increases Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Benedict Financial Advisors Inc. lifted its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,603 shares of the insurance provider’s stock after purchasing an additional 86 shares during the quarter. Benedict Financial Advisors Inc.’s holdings in RenaissanceRe were worth $3,136,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in RNR. ORG Wealth Partners LLC purchased a new stake in shares of RenaissanceRe in the third quarter worth about $30,000. MassMutual Private Wealth & Trust FSB increased its holdings in 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 during the period. UMB Bank n.a. lifted its stake in RenaissanceRe by 316.7% in the 3rd quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 95 shares in the last quarter. Advisors Asset Management Inc. bought a new position in RenaissanceRe in the 3rd quarter valued at $45,000. Finally, V Square Quantitative Management LLC increased its holdings in shares of RenaissanceRe by 29.5% in the third quarter. V Square Quantitative Management LLC now owns 180 shares of the insurance provider’s stock worth $49,000 after purchasing an additional 41 shares during the period. Hedge funds and other institutional investors own 99.97% of the company’s stock.

RenaissanceRe Price Performance

RNR opened at $239.49 on Friday. The firm has a market cap of $12.44 billion, a PE ratio of 6.84, a P/E/G ratio of 1.91 and a beta of 0.43. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.43. RenaissanceRe Holdings Ltd. has a 1 year low of $208.98 and a 1 year high of $300.00. The stock has a 50-day moving average price of $255.06 and a 200-day moving average price of $257.69.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Tuesday, January 28th. The insurance provider reported $8.06 EPS for the quarter, beating the consensus estimate of $6.94 by $1.12. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. Sell-side analysts predict that RenaissanceRe Holdings Ltd. will post 29.92 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.60 annualized dividend and a yield of 0.67%. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s dividend payout ratio (DPR) is currently 4.45%.

Analyst Upgrades and Downgrades

RNR has been the topic of a number of research analyst reports. Morgan Stanley decreased their price target on shares of RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. JPMorgan Chase & Co. increased their price target on shares of RenaissanceRe from $280.00 to $284.00 and gave the company a “neutral” rating in a research report on Friday, January 3rd. Jefferies Financial Group restated a “hold” rating and set a $282.00 target price (down previously from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. JMP Securities restated a “market perform” rating on shares of RenaissanceRe in a report on Thursday, January 30th. Finally, Barclays downgraded shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $284.00 to $234.00 in a research note on Monday, January 6th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, RenaissanceRe presently has a consensus rating of “Hold” and a consensus target price of $279.90.

Insider Buying and Selling at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total transaction of $254,160.00. Following the completion of the sale, the executive vice president now owns 79,392 shares in the company, valued at approximately $20,178,270.72. This represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.30% of the company’s stock.

About RenaissanceRe

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.