Rehmann Capital Advisory Group Has $243,000 Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Rehmann Capital Advisory Group lifted its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 10.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,027 shares of the insurance provider’s stock after acquiring an additional 93 shares during the quarter. Rehmann Capital Advisory Group’s holdings in RenaissanceRe were worth $243,000 at the end of the most recent reporting period.

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

RenaissanceRe Price Performance

Shares of RNR stock 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 12-month low of $208.98 and a 12-month high of $300.00. The firm has a fifty day moving average of $238.75 and a 200-day moving average of $251.10. 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.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share (EPS) 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 quarter last year, the company earned $12.18 earnings per share. The firm’s revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Increases Dividend

The business also recently declared 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 represents a $1.60 dividend on an annualized basis and a yield of 0.66%. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s payout ratio is presently 5.10%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on RNR shares. JPMorgan Chase & Co. raised RenaissanceRe from a “neutral” rating to an “overweight” rating and set a $284.00 target price for the company in a research note on Tuesday, April 8th. Wells Fargo & Company dropped their price objective on RenaissanceRe from $277.00 to $271.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. JMP Securities reiterated a “market perform” rating on shares of RenaissanceRe in a research report on Thursday, April 24th. Bank of America cut their price objective on shares of RenaissanceRe from $437.00 to $426.00 and set a “buy” rating on the stock in a report on Wednesday, March 26th. Finally, Morgan Stanley raised shares of RenaissanceRe from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $235.00 to $275.00 in a report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average 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.