Independent Advisor Alliance Grows Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Independent Advisor Alliance boosted its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 7.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 864 shares of the insurance provider’s stock after buying an additional 62 shares during the period. Independent Advisor Alliance’s holdings in RenaissanceRe were worth $215,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. SBI Securities Co. Ltd. purchased a new stake in shares of RenaissanceRe in the 4th quarter valued at approximately $29,000. MassMutual Private Wealth & Trust FSB raised its position in RenaissanceRe by 51.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 41 shares during the period. Jones Financial Companies Lllp lifted its stake in RenaissanceRe by 1,587.5% during the fourth quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 127 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of RenaissanceRe by 71.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider’s stock worth $39,000 after buying an additional 65 shares during the period. Finally, Advisors Asset Management Inc. acquired a new stake in shares of RenaissanceRe in the third quarter valued at $45,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

Insiders Place Their Bets

In other news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 79,392 shares in the company, valued at approximately $20,178,270.72. This trade represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by corporate insiders.

RenaissanceRe Stock Up 0.1 %

Shares of NYSE:RNR opened at $240.88 on Thursday. The firm has a 50 day simple moving average of $241.62 and a 200-day simple moving average of $257.35. RenaissanceRe Holdings Ltd. has a twelve month low of $208.98 and a twelve month high of $300.00. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $11.86 billion, a PE ratio of 6.88, a P/E/G ratio of 2.09 and a beta of 0.38.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share for the quarter, beating analysts’ consensus estimates of $6.94 by $1.12. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. On average, equities analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Friday, March 14th. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s dividend payout ratio (DPR) is currently 4.57%.

Analyst Ratings Changes

Several research firms recently issued reports on RNR. Keefe, Bruyette & Woods decreased their target price on RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 4th. JPMorgan Chase & Co. boosted their price target on shares of RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a research note on Friday, January 3rd. Barclays cut RenaissanceRe from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $284.00 to $234.00 in a research note on Monday, January 6th. Wells Fargo & Company lowered their price objective on RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Finally, Morgan Stanley decreased their price target on shares of RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $279.90.

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.