Daiwa Securities Group Inc. Makes New $39,000 Investment in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Daiwa Securities Group Inc. purchased a new position in RenaissanceRe Holdings Ltd. (NYSE:RNR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 200 shares of the insurance provider’s stock, valued at approximately $39,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in RNR. Bruce G. Allen Investments LLC purchased a new position in shares of RenaissanceRe in the fourth quarter worth $38,000. VisionPoint Advisory Group LLC purchased a new position in shares of RenaissanceRe in the third quarter worth $57,000. CWM LLC raised its holdings in shares of RenaissanceRe by 200.0% in the third quarter. CWM LLC now owns 636 shares of the insurance provider’s stock worth $126,000 after buying an additional 424 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of RenaissanceRe during the third quarter worth $143,000. Finally, Capula Management Ltd purchased a new position in shares of RenaissanceRe during the third quarter worth $245,000. Hedge funds and other institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Down 0.2 %

Shares of NYSE RNR opened at $219.08 on Monday. The company’s 50-day simple moving average is $226.91 and its 200-day simple moving average is $216.26. RenaissanceRe Holdings Ltd. has a 52-week low of $174.22 and a 52-week high of $239.42. The firm has a market cap of $11.55 billion, a price-to-earnings ratio of 4.28, a price-to-earnings-growth ratio of 2.91 and a beta of 0.30. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.23.

RenaissanceRe (NYSE:RNR) last announced its earnings results on Tuesday, January 30th. The insurance provider reported $11.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.13 by $3.64. RenaissanceRe had a net margin of 28.04% and a return on equity of 26.93%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the business earned $7.33 earnings per share. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. Equities analysts predict that RenaissanceRe Holdings Ltd. will post 34.43 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.39 dividend. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.71%. RenaissanceRe’s dividend payout ratio (DPR) is 3.05%.

Insider Activity

In related news, EVP David E. Marra sold 750 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $229.00, for a total transaction of $171,750.00. Following the transaction, the executive vice president now directly owns 79,699 shares in the company, valued at $18,251,071. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP David E. Marra sold 750 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $229.00, for a total transaction of $171,750.00. Following the transaction, the executive vice president now directly owns 79,699 shares in the company, valued at $18,251,071. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carol P. Sanders sold 880 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $227.59, for a total transaction of $200,279.20. Following the transaction, the director now owns 5,363 shares in the company, valued at $1,220,565.17. The disclosure for this sale can be found here. Insiders have sold a total of 4,130 shares of company stock worth $958,429 over the last 90 days. 1.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

RNR has been the subject of several recent research reports. BMO Capital Markets raised their target price on shares of RenaissanceRe from $216.00 to $295.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. TD Cowen initiated coverage on shares of RenaissanceRe in a report on Wednesday, January 10th. They set a “market perform” rating for the company. JPMorgan Chase & Co. raised their target price on shares of RenaissanceRe from $204.00 to $237.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. UBS Group raised their target price on shares of RenaissanceRe from $229.00 to $238.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. Finally, Evercore ISI raised their target price on shares of RenaissanceRe from $213.00 to $216.00 and gave the stock an “underperform” rating in a report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $247.89.

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.