AE Wealth Management LLC Purchases New Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

AE Wealth Management LLC purchased a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 967 shares of the insurance provider’s stock, valued at approximately $216,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RNR. Riverview Trust Co acquired a new stake in shares of RenaissanceRe in the first quarter valued at approximately $26,000. Blue Trust Inc. acquired a new stake in shares of RenaissanceRe in the second quarter valued at approximately $27,000. Rise Advisors LLC acquired a new stake in shares of RenaissanceRe in the first quarter valued at approximately $31,000. V Square Quantitative Management LLC acquired a new stake in RenaissanceRe during the second quarter worth $31,000. Finally, Mather Group LLC. acquired a new stake in RenaissanceRe during the first quarter worth $34,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

Analyst Ratings Changes

RNR has been the subject of several recent analyst reports. Citigroup raised their target price on RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Barclays initiated coverage on RenaissanceRe in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $287.00 target price for the company. StockNews.com cut RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Friday, September 6th. Morgan Stanley cut their target price on RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Finally, Bank of America raised their target price on RenaissanceRe from $334.00 to $347.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $272.60.

RenaissanceRe Trading Up 0.1 %

NYSE:RNR opened at $269.40 on Friday. The firm has a market cap of $14.05 billion, a PE ratio of 5.95, a price-to-earnings-growth ratio of 1.44 and a beta of 0.38. The stock has a fifty day moving average price of $246.67 and a 200 day moving average price of $232.52. RenaissanceRe Holdings Ltd. has a 12-month low of $188.24 and a 12-month high of $271.80. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21.

RenaissanceRe (NYSE:RNR) last released its earnings results on Wednesday, July 24th. The insurance provider reported $12.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.88 by $1.53. The firm had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.93 billion. RenaissanceRe had a return on equity of 27.74% and a net margin of 25.38%. Sell-side analysts anticipate that RenaissanceRe Holdings Ltd. will post 39.01 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a $0.39 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.58%. RenaissanceRe’s dividend payout ratio (DPR) is presently 3.45%.

Insider Activity at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $269.00, for a total value of $269,000.00. Following the completion of the transaction, the executive vice president now directly owns 83,044 shares in the company, valued at $22,338,836. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other RenaissanceRe news, CFO Robert Qutub sold 2,500 shares of RenaissanceRe stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $224.56, for a total transaction of $561,400.00. Following the completion of the sale, the chief financial officer now directly owns 73,915 shares of the company’s stock, valued at approximately $16,598,352.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $269.00, for a total value of $269,000.00. Following the sale, the executive vice president now directly owns 83,044 shares of the company’s stock, valued at $22,338,836. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,500 shares of company stock worth $1,060,400. Company insiders own 1.30% of the company’s stock.

RenaissanceRe Profile

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.