EntryPoint Capital LLC Invests $240,000 in RenaissanceRe Holdings Ltd. (NYSE:RNR)

EntryPoint Capital LLC purchased a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 966 shares of the insurance provider’s stock, valued at approximately $240,000.

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

Insiders Place Their Bets

In related news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total transaction of $254,160.00. Following the transaction, the executive vice president now owns 79,392 shares in the company, valued at $20,178,270.72. The trade was a 1.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.

RenaissanceRe Price Performance

RenaissanceRe stock opened at $242.46 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42. RenaissanceRe Holdings Ltd. has a one year low of $208.98 and a one year high of $300.00. The stock’s 50 day moving average is $239.76 and its 200 day moving average is $256.52. The firm has a market cap of $11.94 billion, a P/E ratio of 6.92, a P/E/G ratio of 2.09 and a beta of 0.38.

RenaissanceRe (NYSE:RNR) last posted 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 return on equity of 23.41% and a net margin of 15.99%. As a group, research analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.40 dividend. The ex-dividend date is 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 payout ratio is 4.57%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on RNR shares. Jefferies Financial Group restated a “hold” rating and set a $282.00 target price (down previously from $304.00) on shares of RenaissanceRe in a research report on Wednesday, December 18th. Keefe, Bruyette & Woods lowered their price objective on RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 4th. Barclays cut RenaissanceRe from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $284.00 to $234.00 in a report on Monday, January 6th. Bank of America decreased their price target on RenaissanceRe from $437.00 to $426.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Morgan Stanley cut their price objective on shares of RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $283.40.

RenaissanceRe 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.