Nisa Investment Advisors LLC Purchases 642 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Nisa Investment Advisors LLC increased its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 128.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,142 shares of the insurance provider’s stock after purchasing an additional 642 shares during the period. Nisa Investment Advisors LLC’s holdings in RenaissanceRe were worth $274,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. M&T Bank Corp raised its position in shares of RenaissanceRe by 3.1% during the 1st quarter. M&T Bank Corp now owns 4,151 shares of the insurance provider’s stock valued at $996,000 after purchasing an additional 124 shares during the period. ARGA Investment Management LP raised its position in shares of RenaissanceRe by 344.9% during the 1st quarter. ARGA Investment Management LP now owns 24,089 shares of the insurance provider’s stock valued at $5,781,000 after purchasing an additional 18,675 shares during the period. Lightrock Netherlands B.V. raised its position in shares of RenaissanceRe by 61.3% during the 1st quarter. Lightrock Netherlands B.V. now owns 29,717 shares of the insurance provider’s stock valued at $7,144,000 after purchasing an additional 11,291 shares during the period. 44 Wealth Management LLC raised its position in shares of RenaissanceRe by 7.6% during the 1st quarter. 44 Wealth Management LLC now owns 4,587 shares of the insurance provider’s stock valued at $1,101,000 after purchasing an additional 325 shares during the period. Finally, Rossby Financial LCC bought a new stake in shares of RenaissanceRe during the 1st quarter valued at $187,000. 99.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at RenaissanceRe

In related news, CAO James Christopher Fraser sold 332 shares of RenaissanceRe stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $249.54, for a total transaction of $82,847.28. Following the completion of the transaction, the chief accounting officer directly owned 27,154 shares of the company’s stock, valued at approximately $6,776,009.16. The trade was a 1.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is currently owned by company insiders.

RenaissanceRe Stock Performance

RenaissanceRe stock opened at $239.10 on Thursday. The company’s 50-day moving average price is $243.46 and its 200-day moving average price is $242.06. RenaissanceRe Holdings Ltd. has a twelve month low of $210.51 and a twelve month high of $300.00. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.29. The company has a market cap of $11.63 billion, a PE ratio of 7.63, a price-to-earnings-growth ratio of 2.88 and a beta of 0.30.

RenaissanceRe (NYSE:RNR) last posted its earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($1.17). RenaissanceRe had a return on equity of 15.90% and a net margin of 13.26%. The business had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.36 billion. During the same quarter last year, the firm earned $12.18 earnings per share. The business’s quarterly revenue was up 7.6% on a year-over-year basis. On average, equities research analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.67%. RenaissanceRe’s dividend payout ratio (DPR) is presently 5.10%.

Analysts Set New Price Targets

Several analysts have recently commented on RNR shares. Jefferies Financial Group decreased their price objective on shares of RenaissanceRe from $266.00 to $265.00 and set a “hold” rating on the stock in a research report on Friday, April 11th. Morgan Stanley reduced their price target on shares of RenaissanceRe from $285.00 to $280.00 and set an “overweight” rating on the stock in a report on Monday. Barclays upgraded shares of RenaissanceRe from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $231.00 to $256.00 in a report on Monday, July 7th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $269.00 price target (up from $267.00) on shares of RenaissanceRe in a report on Thursday, July 10th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $268.00 price target (down from $282.00) on shares of RenaissanceRe in a report on Wednesday, July 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, RenaissanceRe currently has an average rating of “Hold” and a consensus price target of $288.00.

RenaissanceRe Company 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.