Mercer Global Advisors Inc. ADV Buys 164 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Mercer Global Advisors Inc. ADV raised its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 15.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,209 shares of the insurance provider’s stock after acquiring an additional 164 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in RenaissanceRe were worth $301,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd bought a new stake in RenaissanceRe in the fourth quarter valued at $27,000. SBI Securities Co. Ltd. acquired a new position in RenaissanceRe in the fourth quarter worth $29,000. MassMutual Private Wealth & Trust FSB boosted its stake in RenaissanceRe by 51.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 41 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in RenaissanceRe by 1,587.5% in 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. Finally, Smartleaf Asset Management LLC boosted its stake in RenaissanceRe by 71.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 65 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at RenaissanceRe

In other RenaissanceRe news, CAO James Christopher Fraser sold 332 shares of the stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $249.54, for a total value of $82,847.28. Following the completion of the sale, the chief accounting officer now directly owns 27,154 shares in the company, valued at $6,776,009.16. This represents a 1.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Keefe, Bruyette & Woods boosted their price objective on RenaissanceRe from $279.00 to $282.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 29th. JMP Securities reissued a “market perform” rating on shares of RenaissanceRe in a research note on Thursday, April 24th. Jefferies Financial Group reduced their price objective on RenaissanceRe from $266.00 to $265.00 and set a “hold” rating on the stock in a research note on Friday, April 11th. Barclays reduced their price objective on RenaissanceRe from $234.00 to $231.00 and set an “underweight” rating on the stock in a research note on Friday, April 11th. Finally, Morgan Stanley raised RenaissanceRe from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $235.00 to $275.00 in a research note on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $282.60.

RenaissanceRe Trading Up 1.4%

Shares of RNR opened at $242.88 on Friday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. RenaissanceRe Holdings Ltd. has a 12-month low of $208.98 and a 12-month high of $300.00. The firm has a market capitalization of $11.82 billion, a PE ratio of 6.94, a price-to-earnings-growth ratio of 2.09 and a beta of 0.34. The stock’s fifty day simple moving average is $239.92 and its 200-day simple moving average is $249.29.

RenaissanceRe (NYSE:RNR) last released its earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($1.17). RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. The company had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.36 billion. During the same period in the previous year, the company posted $12.18 EPS. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, research analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Friday, June 13th. RenaissanceRe’s payout ratio is 5.10%.

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.