Benjamin Edwards Inc. Buys Shares of 1,748 RenaissanceRe Holdings Ltd. (NYSE:RNR)

Benjamin Edwards Inc. purchased a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,748 shares of the insurance provider’s stock, valued at approximately $435,000.

Several other institutional investors have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB increased its holdings in shares of RenaissanceRe by 51.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 41 shares during the period. UMB Bank n.a. increased its stake in RenaissanceRe by 40.0% during the 4th quarter. UMB Bank n.a. now owns 175 shares of the insurance provider’s stock valued at $44,000 after buying an additional 50 shares during the period. Lifestyle Asset Management Inc. raised its position in shares of RenaissanceRe by 1.1% during the 4th quarter. Lifestyle Asset Management Inc. now owns 4,645 shares of the insurance provider’s stock worth $1,156,000 after buying an additional 52 shares in the last quarter. AMG National Trust Bank lifted its stake in shares of RenaissanceRe by 1.3% in the 4th quarter. AMG National Trust Bank now owns 4,688 shares of the insurance provider’s stock worth $1,166,000 after acquiring an additional 59 shares during the period. Finally, Principal Securities Inc. boosted its holdings in shares of RenaissanceRe by 11.9% in the fourth quarter. Principal Securities Inc. now owns 565 shares of the insurance provider’s stock valued at $141,000 after acquiring an additional 60 shares in the last quarter. Institutional investors own 99.97% of the company’s stock.

RenaissanceRe Trading Up 0.7 %

RenaissanceRe stock opened at $251.61 on Friday. RenaissanceRe Holdings Ltd. has a 52 week low of $208.98 and a 52 week high of $300.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a market capitalization of $12.24 billion, a price-to-earnings ratio of 7.18, a P/E/G ratio of 2.09 and a beta of 0.34. The company has a 50 day moving average price of $239.86 and a 200 day moving average price of $249.87.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) EPS for the quarter, missing the consensus estimate of ($0.32) by ($1.17). The business had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.36 billion. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the business earned $12.18 EPS. Research analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a $0.40 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.64%. RenaissanceRe’s dividend payout ratio is 5.10%.

Insider Transactions at RenaissanceRe

In other news, CAO James Christopher Fraser sold 332 shares of the company’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $249.54, for a total value of $82,847.28. Following the transaction, the chief accounting officer now directly owns 27,154 shares of the company’s stock, valued at approximately $6,776,009.16. This represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RNR. Bank of America cut their target price on RenaissanceRe from $437.00 to $426.00 and set a “buy” rating for the company in a research report on Wednesday, March 26th. Barclays decreased their target price on RenaissanceRe from $234.00 to $231.00 and set an “underweight” rating for the company in a research note on Friday, April 11th. Morgan Stanley upgraded shares of RenaissanceRe from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $235.00 to $275.00 in a research report on Friday, April 25th. Jefferies Financial Group reduced their price objective on shares of RenaissanceRe from $266.00 to $265.00 and set a “hold” rating for the company in a research report on Friday, April 11th. Finally, JPMorgan Chase & Co. upgraded shares of RenaissanceRe from a “neutral” rating to an “overweight” rating and set a $284.00 target price on the stock in a report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $282.60.

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.