Cetera Investment Advisers Acquires 285 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Cetera Investment Advisers boosted its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 7.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,249 shares of the insurance provider’s stock after purchasing an additional 285 shares during the quarter. Cetera Investment Advisers’ holdings in RenaissanceRe were worth $1,057,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd purchased a new stake in shares of RenaissanceRe during the 4th quarter worth $27,000. SBI Securities Co. Ltd. acquired a new position in RenaissanceRe during the fourth quarter valued at $29,000. MassMutual Private Wealth & Trust FSB grew its holdings in RenaissanceRe by 51.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 41 shares during the period. Jones Financial Companies Lllp boosted its holdings 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 buying an additional 127 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in RenaissanceRe by 71.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 65 shares during the period. 99.97% of the stock is currently owned by institutional investors.

RenaissanceRe Stock Up 0.2%

Shares of RenaissanceRe stock opened at $239.20 on Friday. The company has a market cap of $11.64 billion, a P/E ratio of 6.83, a PEG ratio of 2.09 and a beta of 0.34. The firm has a fifty day moving average of $240.45 and a two-hundred day moving average of $248.36. RenaissanceRe Holdings Ltd. has a one year low of $208.98 and a one year high of $300.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42.

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

RenaissanceRe Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Friday, June 13th. RenaissanceRe’s dividend payout ratio is currently 5.10%.

Analysts Set New Price Targets

RNR has been the subject of several research analyst reports. Wells Fargo & Company reduced their price target on shares of RenaissanceRe from $277.00 to $271.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Morgan Stanley set a $285.00 price objective on shares of RenaissanceRe and gave the stock an “overweight” rating in a research report on Monday, May 19th. JPMorgan Chase & Co. raised shares of RenaissanceRe from a “neutral” rating to an “overweight” rating and set a $284.00 price target on the stock in a research report on Tuesday, April 8th. Bank of America lowered their price objective on RenaissanceRe from $437.00 to $426.00 and set a “buy” rating for the company in a research report on Wednesday, March 26th. Finally, Barclays cut their price objective on shares of RenaissanceRe from $234.00 to $231.00 and set an “underweight” rating on the stock in a report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $283.60.

Insider Activity at RenaissanceRe

In related news, CAO James Christopher Fraser sold 332 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $249.54, for a total value of $82,847.28. Following the sale, the chief accounting officer now directly owns 27,154 shares of the company’s stock, valued at approximately $6,776,009.16. This trade represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.30% of the company’s stock.

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.