RenaissanceRe Holdings Ltd. $RNR Shares Bought by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. lifted its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 25.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 18,300 shares of the insurance provider’s stock after purchasing an additional 3,700 shares during the period. Hillsdale Investment Management Inc.’s holdings in RenaissanceRe were worth $5,439,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. SBI Securities Co. Ltd. grew its position in shares of RenaissanceRe by 33.6% during the 4th quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock valued at $41,000 after buying an additional 37 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in RenaissanceRe by 20.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 230 shares of the insurance provider’s stock worth $65,000 after acquiring an additional 39 shares during the last quarter. Beacon Pointe Advisors LLC lifted its holdings in RenaissanceRe by 2.2% in the fourth quarter. Beacon Pointe Advisors LLC now owns 1,857 shares of the insurance provider’s stock worth $522,000 after acquiring an additional 40 shares during the last quarter. Signaturefd LLC boosted its stake in RenaissanceRe by 8.9% in the fourth quarter. Signaturefd LLC now owns 504 shares of the insurance provider’s stock valued at $142,000 after acquiring an additional 41 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its stake in RenaissanceRe by 2.6% in the third quarter. Brown Brothers Harriman & Co. now owns 2,006 shares of the insurance provider’s stock valued at $509,000 after acquiring an additional 51 shares during the period. 99.97% of the stock is owned by institutional investors and hedge funds.

RenaissanceRe Trading Down 0.2%

RenaissanceRe stock opened at $320.05 on Wednesday. RenaissanceRe Holdings Ltd. has a 12-month low of $231.17 and a 12-month high of $329.57. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a market capitalization of $13.64 billion, a PE ratio of 5.33, a price-to-earnings-growth ratio of 1.19 and a beta of 0.17. The firm has a 50 day simple moving average of $301.39 and a 200-day simple moving average of $296.37.

RenaissanceRe (NYSE:RNR) last announced its earnings results on Tuesday, March 31st. The insurance provider reported $13.75 EPS for the quarter. The firm had revenue of $2.19 billion for the quarter. RenaissanceRe had a return on equity of 24.01% and a net margin of 24.25%. As a group, equities research analysts expect that RenaissanceRe Holdings Ltd. will post 40.57 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, June 15th. RenaissanceRe’s payout ratio is currently 2.73%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on RNR shares. Wall Street Zen cut RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Barclays upped their price objective on RenaissanceRe from $328.00 to $341.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. Wells Fargo & Company increased their target price on RenaissanceRe from $306.00 to $329.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Bank of America cut their target price on RenaissanceRe to $426.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Finally, TD Cowen boosted their price target on shares of RenaissanceRe from $300.00 to $315.00 and gave the company a “hold” rating in a report on Tuesday, July 7th. Five research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $331.80.

About RenaissanceRe

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.