New Age Alpha Advisors LLC Raises Position in RenaissanceRe Holdings Ltd. $RNR

New Age Alpha Advisors LLC boosted its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 97.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,800 shares of the insurance provider’s stock after purchasing an additional 10,250 shares during the period. New Age Alpha Advisors LLC’s holdings in RenaissanceRe were worth $5,165,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of RenaissanceRe by 39.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,687 shares of the insurance provider’s stock worth $2,325,000 after buying an additional 2,737 shares during the period. Millennium Management LLC purchased a new stake in RenaissanceRe during the 1st quarter valued at about $15,289,000. Jones Financial Companies Lllp grew its position in RenaissanceRe by 900.0% during the 1st quarter. Jones Financial Companies Lllp now owns 1,350 shares of the insurance provider’s stock worth $324,000 after acquiring an additional 1,215 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in RenaissanceRe by 72.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 57,186 shares of the insurance provider’s stock worth $13,725,000 after purchasing an additional 24,027 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in RenaissanceRe by 0.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 106,248 shares of the insurance provider’s stock worth $25,808,000 after purchasing an additional 328 shares during the period. 99.97% of the stock is owned by institutional investors.

RenaissanceRe Stock Up 1.3%

Shares of NYSE RNR opened at $302.24 on Monday. The firm has a fifty day simple moving average of $285.71 and a two-hundred day simple moving average of $265.60. RenaissanceRe Holdings Ltd. has a 12 month low of $219.00 and a 12 month high of $315.88. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $13.14 billion, a PE ratio of 5.33, a price-to-earnings-growth ratio of 0.74 and a beta of 0.21.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Tuesday, February 3rd. The insurance provider reported $13.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.59 by $2.75. RenaissanceRe had a net margin of 20.88% and a return on equity of 18.29%. The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the company earned $8.06 earnings per share. RenaissanceRe’s quarterly revenue was up 29.6% on a year-over-year basis. Equities analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a dividend of $0.41 per share. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, March 13th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 0.5%. RenaissanceRe’s dividend payout ratio (DPR) is currently 2.82%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Weiss Ratings reissued a “buy (b)” rating on shares of RenaissanceRe in a research note on Monday, December 29th. Barclays increased their price target on shares of RenaissanceRe from $278.00 to $304.00 and gave the company an “equal weight” rating in a research report on Thursday, January 8th. Evercore boosted their price objective on shares of RenaissanceRe from $283.00 to $291.00 and gave the company an “in-line” rating in a research report on Wednesday, February 4th. Wall Street Zen raised shares of RenaissanceRe from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Finally, The Goldman Sachs Group reissued a “sell” rating and issued a $267.00 target price on shares of RenaissanceRe in a research note on Wednesday, January 7th. Three analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, RenaissanceRe has a consensus rating of “Hold” and a consensus target price of $310.27.

Insider Activity at RenaissanceRe

In other news, EVP Robert Qutub sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $305.75, for a total value of $1,528,750.00. Following the completion of the transaction, the executive vice president owned 73,023 shares in the company, valued at $22,326,782.25. This trade represents a 6.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.00% of the stock is currently owned by insiders.

RenaissanceRe Profile

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.