Beacon Investment Advisors LLC Purchases 110 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Beacon Investment Advisors LLC increased its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 7.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,531 shares of the insurance provider’s stock after acquiring an additional 110 shares during the quarter. Beacon Investment Advisors LLC’s holdings in RenaissanceRe were worth $381,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new position in RenaissanceRe in the fourth quarter valued at approximately $27,000. SBI Securities Co. Ltd. bought a new stake in RenaissanceRe in the fourth quarter valued at about $29,000. MassMutual Private Wealth & Trust FSB boosted its holdings in RenaissanceRe by 51.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock worth $30,000 after buying an additional 41 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of RenaissanceRe by 1,587.5% in the 4th quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 127 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in shares of RenaissanceRe by 71.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 65 shares during the period. 99.97% of the stock is currently owned by institutional investors and hedge funds.

RenaissanceRe Trading Up 1.4 %

Shares of RenaissanceRe stock opened at $241.09 on Monday. The firm’s 50-day moving average price is $237.23 and its two-hundred day moving average price is $253.17. 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 company has a market capitalization of $11.81 billion, a price-to-earnings ratio of 6.88, a PEG ratio of 2.09 and a beta of 0.29.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share for the quarter, topping the consensus estimate of $6.94 by $1.12. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. On average, analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, March 14th. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 0.66%. RenaissanceRe’s dividend payout ratio is currently 4.57%.

Wall Street Analyst Weigh In

RNR has been the topic of several research reports. Bank of America cut their target price on RenaissanceRe from $437.00 to $426.00 and set a “buy” rating on the stock in a research note on Wednesday, March 26th. JMP Securities reissued a “market perform” rating on shares of RenaissanceRe in a research report on Thursday, January 30th. Morgan Stanley lowered their target price on RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Jefferies Financial Group decreased their price target on RenaissanceRe from $266.00 to $265.00 and set a “hold” rating for the company in a research note on Friday, April 11th. Finally, Wells Fargo & Company cut 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. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $280.80.

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.