Anderson Financial Strategies LLC Buys New Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Anderson Financial Strategies LLC bought a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) during the fourth quarter, Holdings Channel reports. The institutional investor bought 5,251 shares of the insurance provider’s stock, valued at approximately $1,307,000. RenaissanceRe comprises 0.8% of Anderson Financial Strategies LLC’s holdings, making the stock its 25th largest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Impax Asset Management Group plc lifted its holdings in shares of RenaissanceRe by 10.8% in the fourth quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider’s stock valued at $466,969,000 after purchasing an additional 182,530 shares in the last quarter. Trexquant Investment LP acquired a new stake in RenaissanceRe during the 4th quarter valued at $561,000. Barclays PLC increased its position in RenaissanceRe by 57.1% during the third quarter. Barclays PLC now owns 22,923 shares of the insurance provider’s stock worth $6,244,000 after buying an additional 8,333 shares in the last quarter. Franklin Resources Inc. acquired a new position in shares of RenaissanceRe in the fourth quarter worth $1,086,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of RenaissanceRe in the fourth quarter valued at $7,986,000. 99.97% of the stock is owned by hedge funds and other institutional investors.

RenaissanceRe Trading Up 2.5 %

NYSE:RNR opened at $243.05 on Friday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. RenaissanceRe Holdings Ltd. has a 1-year low of $208.98 and a 1-year high of $300.00. The firm has a market capitalization of $11.91 billion, a price-to-earnings ratio of 6.94, a price-to-earnings-growth ratio of 2.09 and a beta of 0.29. The stock has a fifty day simple moving average of $238.75 and a 200 day simple moving average of $251.10.

RenaissanceRe (NYSE:RNR) last released 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 net margin of 15.99% and a return on equity of 23.41%. The company had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.36 billion. During the same quarter in the prior year, the company posted $12.18 EPS. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. Sell-side analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.40 dividend. The ex-dividend date was Friday, March 14th. 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 yield of 0.66%. RenaissanceRe’s payout ratio is 5.10%.

Analyst Ratings Changes

Several research firms have issued reports on RNR. JMP Securities reaffirmed a “market perform” rating on shares of RenaissanceRe in a research note on Thursday, April 24th. JPMorgan Chase & Co. upgraded RenaissanceRe from a “neutral” rating to an “overweight” rating and set a $284.00 price objective on the stock in a report on Tuesday, April 8th. Bank of America decreased their price target on RenaissanceRe from $437.00 to $426.00 and set a “buy” rating on the stock in a research note on Wednesday, March 26th. Keefe, Bruyette & Woods lifted their price target on shares of RenaissanceRe from $279.00 to $282.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Wells Fargo & Company dropped their price target on shares of RenaissanceRe from $277.00 to $271.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, RenaissanceRe has a consensus rating of “Hold” and a consensus target price of $282.60.

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.