RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Acquired by Avior Wealth Management LLC

Avior Wealth Management LLC raised its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 13.1% during the third quarter, HoldingsChannel reports. The firm owned 4,317 shares of the insurance provider’s stock after purchasing an additional 500 shares during the quarter. Avior Wealth Management LLC’s holdings in RenaissanceRe were worth $1,176,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Natixis Advisors LLC increased its stake in RenaissanceRe by 8.3% during the 3rd quarter. Natixis Advisors LLC now owns 15,391 shares of the insurance provider’s stock valued at $4,193,000 after purchasing an additional 1,177 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of RenaissanceRe in the third quarter worth $243,000. CIBC Asset Management Inc increased its stake in shares of RenaissanceRe by 3.6% in the third quarter. CIBC Asset Management Inc now owns 1,530 shares of the insurance provider’s stock worth $417,000 after acquiring an additional 53 shares during the period. KBC Group NV increased its stake in shares of RenaissanceRe by 17.0% in the third quarter. KBC Group NV now owns 1,362 shares of the insurance provider’s stock worth $371,000 after acquiring an additional 198 shares during the period. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of RenaissanceRe in the third quarter worth $231,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on RNR shares. Jefferies Financial Group increased their price objective on shares of RenaissanceRe from $270.00 to $314.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Wells Fargo & Company increased their price target on shares of RenaissanceRe from $280.00 to $314.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Citigroup increased their price target on shares of RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. StockNews.com downgraded shares of RenaissanceRe from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Finally, Bank of America increased their price target on shares of RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, RenaissanceRe currently has a consensus rating of “Hold” and a consensus target price of $293.00.

Insider Transactions at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction on Friday, October 4th. The shares were sold at an average price of $279.00, for a total value of $279,000.00. Following the transaction, the executive vice president now directly owns 82,044 shares of the company’s stock, valued at $22,890,276. The trade was a 1.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.80% of the company’s stock.

RenaissanceRe Trading Down 0.1 %

Shares of RNR stock opened at $264.30 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.43 and a current ratio of 1.43. The stock has a market capitalization of $13.73 billion, a P/E ratio of 3.81, a price-to-earnings-growth ratio of 1.32 and a beta of 0.39. The company has a 50 day moving average price of $268.38 and a 200 day moving average price of $244.22. RenaissanceRe Holdings Ltd. has a fifty-two week low of $188.24 and a fifty-two week high of $300.00.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.89 by $2.34. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the firm earned $8.33 earnings per share. The firm’s quarterly revenue was up 52.1% on a year-over-year basis. Equities research analysts predict that RenaissanceRe Holdings Ltd. will post 40.31 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.39 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.59%. RenaissanceRe’s dividend payout ratio is currently 2.25%.

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.