Fifth Third Wealth Advisors LLC Makes New Investment in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Fifth Third Wealth Advisors LLC acquired a new position in RenaissanceRe Holdings Ltd. (NYSE:RNR) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,117 shares of the insurance provider’s stock, valued at approximately $263,000.

Other institutional investors have also recently made changes to their positions in the company. Riverview Trust Co bought a new position in shares of RenaissanceRe in the first quarter worth about $26,000. Rise Advisors LLC bought a new position in shares of RenaissanceRe in the first quarter worth about $31,000. Mather Group LLC. bought a new position in shares of RenaissanceRe in the first quarter worth about $34,000. GAMMA Investing LLC bought a new position in shares of RenaissanceRe in the fourth quarter worth about $37,000. Finally, Bruce G. Allen Investments LLC bought a new stake in RenaissanceRe during the 4th quarter valued at approximately $38,000. Institutional investors own 99.97% of the company’s stock.

RenaissanceRe Trading Down 0.5 %

Shares of RenaissanceRe stock traded down $1.06 on Friday, reaching $223.51. The company had a trading volume of 724,747 shares, compared to its average volume of 337,852. The firm has a market cap of $11.82 billion, a price-to-earnings ratio of 4.92, a P/E/G ratio of 1.49 and a beta of 0.38. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.41 and a quick ratio of 1.41. The firm’s 50-day moving average price is $224.64 and its two-hundred day moving average price is $220.11. RenaissanceRe Holdings Ltd. has a 1 year low of $174.22 and a 1 year high of $239.42.

RenaissanceRe (NYSE:RNR) last announced its earnings results on Tuesday, April 30th. The insurance provider reported $12.18 EPS for the quarter, topping analysts’ consensus estimates of $9.86 by $2.32. The firm had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.05 billion. RenaissanceRe had a return on equity of 27.09% and a net margin of 24.79%. The company’s quarterly revenue was up 41.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $8.16 EPS. As a group, research analysts predict that RenaissanceRe Holdings Ltd. will post 37.17 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Friday, June 14th. RenaissanceRe’s payout ratio is currently 3.45%.

Analyst Ratings Changes

Several analysts recently issued reports on RNR shares. Evercore ISI lifted their target price on RenaissanceRe from $216.00 to $218.00 and gave the company an “underperform” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. lifted their target price on RenaissanceRe from $237.00 to $245.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $249.00.

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.