New Age Alpha Advisors LLC Sells 15,544 Shares of RenaissanceRe Holdings Ltd. $RNR

New Age Alpha Advisors LLC reduced its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 74.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,256 shares of the insurance provider’s stock after selling 15,544 shares during the quarter. New Age Alpha Advisors LLC’s holdings in RenaissanceRe were worth $1,478,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in RNR. Lightrock Netherlands B.V. increased its stake in RenaissanceRe by 4,690.1% in the 4th quarter. Lightrock Netherlands B.V. now owns 1,017,508 shares of the insurance provider’s stock worth $286,083,000 after acquiring an additional 996,266 shares during the last quarter. M&T Bank Corp increased its stake in RenaissanceRe by 8,296.5% in the 4th quarter. M&T Bank Corp now owns 290,352 shares of the insurance provider’s stock worth $81,635,000 after acquiring an additional 286,894 shares during the last quarter. AQR Capital Management LLC increased its stake in RenaissanceRe by 154.5% in the 3rd quarter. AQR Capital Management LLC now owns 397,027 shares of the insurance provider’s stock worth $99,769,000 after acquiring an additional 241,001 shares during the last quarter. Millennium Management LLC increased its stake in RenaissanceRe by 347.6% in the 3rd quarter. Millennium Management LLC now owns 236,919 shares of the insurance provider’s stock worth $60,161,000 after acquiring an additional 183,988 shares during the last quarter. Finally, Two Sigma Investments LP increased its stake in RenaissanceRe by 330.0% in the 3rd quarter. Two Sigma Investments LP now owns 174,368 shares of the insurance provider’s stock worth $44,277,000 after acquiring an additional 133,820 shares during the last quarter. 99.97% of the stock is currently owned by institutional investors.

RenaissanceRe Price Performance

RNR opened at $289.64 on Thursday. The stock has a 50-day moving average price of $300.99 and a 200-day moving average price of $287.67. RenaissanceRe Holdings Ltd. has a 12-month low of $231.17 and a 12-month high of $318.20. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $12.35 billion, a P/E ratio of 4.83, a PEG ratio of 0.77 and a beta of 0.22.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Tuesday, March 31st. The insurance provider reported $13.75 earnings per share (EPS) for the quarter. RenaissanceRe had a return on equity of 24.01% and a net margin of 24.25%.The firm had revenue of $2.19 billion during the quarter. Equities analysts predict that RenaissanceRe Holdings Ltd. will post 40.02 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, June 15th. RenaissanceRe’s dividend payout ratio is presently 2.73%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on RNR shares. Wall Street Zen lowered RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Keefe, Bruyette & Woods upped their target price on RenaissanceRe from $323.00 to $327.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 7th. Evercore set a $309.00 target price on RenaissanceRe in a research note on Thursday, April 9th. Weiss Ratings upgraded RenaissanceRe from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday. Finally, Wells Fargo & Company upped their target price on RenaissanceRe from $305.00 to $306.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Four analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, RenaissanceRe presently has a consensus rating of “Hold” and a consensus target price of $322.93.

RenaissanceRe Profile

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.