National Wealth Management Group LLC Makes New $364,000 Investment in RenaissanceRe Holdings Ltd. (NYSE:RNR)

National Wealth Management Group LLC acquired a new position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,337 shares of the insurance provider’s stock, valued at approximately $364,000.

Other hedge funds have also made changes to their positions in the company. ORG Wealth Partners LLC purchased a new position in RenaissanceRe in the third quarter valued at approximately $30,000. Blue Trust Inc. purchased a new position in shares of RenaissanceRe in the 2nd quarter valued at $27,000. UMB Bank n.a. raised its stake in RenaissanceRe by 316.7% during the 3rd quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 95 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in RenaissanceRe in the second quarter valued at $31,000. Finally, Advisors Asset Management Inc. acquired a new position in RenaissanceRe in the third quarter valued at $45,000. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Bank of America lifted their target price on RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Evercore ISI increased their price objective on RenaissanceRe from $229.00 to $246.00 and gave the company an “underperform” rating in a report on Thursday, November 7th. Jefferies Financial Group lifted their target price on shares of RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. StockNews.com cut shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Finally, Citigroup lifted their price objective on shares of RenaissanceRe from $262.00 to $298.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $293.00.

Insider Activity

In other news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $279.00, for a total value of $279,000.00. Following the completion of the transaction, the executive vice president now owns 82,044 shares in the company, valued at $22,890,276. This trade represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

RenaissanceRe Stock Up 1.1 %

RNR opened at $285.44 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.43 and a quick ratio of 1.43. RenaissanceRe Holdings Ltd. has a 12 month low of $188.24 and a 12 month high of $300.00. The stock has a market capitalization of $14.83 billion, a P/E ratio of 4.11, a P/E/G ratio of 1.36 and a beta of 0.39. The business has a 50 day simple moving average of $269.50 and a 200-day simple moving average of $245.75.

RenaissanceRe (NYSE:RNR) last released its earnings results on Wednesday, November 6th. The insurance provider reported $10.23 EPS for the quarter, beating analysts’ consensus estimates of $7.89 by $2.34. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.35 billion. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. RenaissanceRe’s quarterly revenue was up 52.1% compared to the same quarter last year. During the same quarter last year, the company earned $8.33 earnings per share. On average, equities analysts anticipate that RenaissanceRe Holdings Ltd. will post 41.94 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.39 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.55%. RenaissanceRe’s dividend payout ratio (DPR) is presently 2.25%.

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.