3,800 Shares in RenaissanceRe Holdings Ltd. (NYSE:RNR) Purchased by Avior Wealth Management LLC

Avior Wealth Management LLC purchased a new position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 3,800 shares of the insurance provider’s stock, valued at approximately $745,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RNR. Financial Management Professionals Inc. lifted its holdings in RenaissanceRe by 4,833.3% during the 3rd quarter. Financial Management Professionals Inc. now owns 148 shares of the insurance provider’s stock valued at $29,000 after buying an additional 145 shares in the last quarter. Quarry LP bought a new stake in RenaissanceRe during the 1st quarter valued at about $32,000. Bruce G. Allen Investments LLC bought a new stake in RenaissanceRe during the 4th quarter valued at about $38,000. Global Retirement Partners LLC lifted its holdings in RenaissanceRe by 519.4% during the 3rd quarter. Global Retirement Partners LLC now owns 192 shares of the insurance provider’s stock valued at $39,000 after buying an additional 161 shares in the last quarter. Finally, Fred Alger Management LLC bought a new stake in RenaissanceRe during the 1st quarter valued at about $44,000. Institutional investors own 99.97% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on RNR shares. UBS Group lifted their price objective on shares of RenaissanceRe from $229.00 to $238.00 and gave the company a “neutral” rating in a report on Monday, February 5th. JPMorgan Chase & Co. boosted their price target on shares of RenaissanceRe from $204.00 to $237.00 and gave the company a “neutral” rating in a report on Monday, April 8th. TD Cowen assumed coverage on shares of RenaissanceRe in a report on Wednesday, January 10th. They issued a “market perform” rating for the company. BMO Capital Markets boosted their price target on shares of RenaissanceRe from $216.00 to $295.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Finally, Evercore ISI boosted their price target on shares of RenaissanceRe from $213.00 to $216.00 and gave the company an “underperform” rating in a report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $247.89.

Insider Buying and Selling

In related news, EVP David E. Marra sold 750 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 79,699 shares in the company, valued at approximately $18,251,071. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other RenaissanceRe news, CFO Robert Qutub sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $234.56, for a total transaction of $586,400.00. Following the sale, the chief financial officer now owns 70,424 shares of the company’s stock, valued at approximately $16,518,653.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP David E. Marra sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $229.00, for a total transaction of $171,750.00. Following the sale, the executive vice president now directly owns 79,699 shares in the company, valued at approximately $18,251,071. The disclosure for this sale can be found here. Insiders sold a total of 4,130 shares of company stock worth $958,429 in the last 90 days. 1.30% of the stock is owned by corporate insiders.

RenaissanceRe Trading Up 0.6 %

NYSE RNR opened at $216.40 on Thursday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.23. The firm has a market cap of $11.41 billion, a PE ratio of 4.22, a price-to-earnings-growth ratio of 2.85 and a beta of 0.30. The company has a 50 day moving average price of $227.65 and a 200 day moving average price of $215.34. RenaissanceRe Holdings Ltd. has a 52 week low of $174.22 and a 52 week high of $239.42.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Tuesday, January 30th. The insurance provider reported $11.77 EPS for the quarter, topping the consensus estimate of $8.13 by $3.64. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.83 billion. RenaissanceRe had a net margin of 28.04% and a return on equity of 26.93%. RenaissanceRe’s revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $7.33 EPS. As a group, sell-side analysts forecast that RenaissanceRe Holdings Ltd. will post 34.41 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.72%. The ex-dividend date was Thursday, March 14th. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.38. RenaissanceRe’s payout ratio is 3.05%.

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.