Everence Capital Management Inc. Takes $304,000 Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Everence Capital Management Inc. bought a new position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 1,220 shares of the insurance provider’s stock, valued at approximately $304,000.

A number of other institutional investors have also made changes to their positions in RNR. ORG Wealth Partners LLC bought a new position in RenaissanceRe during the third quarter worth $30,000. UMB Bank n.a. lifted its holdings in RenaissanceRe by 316.7% during the 3rd quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 95 shares during the last quarter. Advisors Asset Management Inc. bought a new stake in RenaissanceRe in the 3rd quarter valued at $45,000. V Square Quantitative Management LLC grew its holdings in RenaissanceRe by 29.5% in the 3rd quarter. V Square Quantitative Management LLC now owns 180 shares of the insurance provider’s stock valued at $49,000 after buying an additional 41 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in RenaissanceRe by 19.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 272 shares of the insurance provider’s stock worth $63,000 after buying an additional 45 shares during the period. 99.97% of the stock is owned by institutional investors and hedge funds.

RenaissanceRe Stock Performance

NYSE:RNR opened at $253.77 on Wednesday. RenaissanceRe Holdings Ltd. has a twelve month low of $197.49 and a twelve month high of $300.00. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.18. The stock’s 50-day simple moving average is $264.53 and its 200 day simple moving average is $253.62. The firm has a market capitalization of $13.18 billion, a PE ratio of 3.66, a price-to-earnings-growth ratio of 1.31 and a beta of 0.44.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share for the quarter, beating analysts’ consensus estimates of $7.89 by $2.34. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.35 billion. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The firm’s quarterly revenue was up 52.1% compared to the same quarter last year. During the same period last year, the company posted $8.33 EPS. On average, analysts anticipate that RenaissanceRe Holdings Ltd. will post 41.94 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.61%. RenaissanceRe’s dividend payout ratio (DPR) is presently 2.25%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on RNR shares. Jefferies Financial Group reissued a “hold” rating and issued a $282.00 target price (down previously from $304.00) on shares of RenaissanceRe in a research report on Wednesday, December 18th. Barclays lowered shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $284.00 to $234.00 in a research report on Monday. JPMorgan Chase & Co. lifted their price target on shares of RenaissanceRe from $280.00 to $284.00 and gave the company a “neutral” rating in a research report on Friday, January 3rd. Keefe, Bruyette & Woods reduced their price target on RenaissanceRe from $316.00 to $310.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Finally, StockNews.com cut RenaissanceRe from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $285.64.

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.