Lifestyle Asset Management Inc. Raises Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Lifestyle Asset Management Inc. grew its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,645 shares of the insurance provider’s stock after purchasing an additional 52 shares during the quarter. Lifestyle Asset Management Inc.’s holdings in RenaissanceRe were worth $1,156,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Janney Montgomery Scott LLC increased its holdings in shares of RenaissanceRe by 4.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 5,290 shares of the insurance provider’s stock worth $1,316,000 after buying an additional 222 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in RenaissanceRe by 51.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 41 shares in the last quarter. UMB Bank n.a. increased its holdings in RenaissanceRe by 40.0% in the 4th quarter. UMB Bank n.a. now owns 175 shares of the insurance provider’s stock valued at $44,000 after purchasing an additional 50 shares in the last quarter. HB Wealth Management LLC increased its holdings in RenaissanceRe by 14.5% in the 4th quarter. HB Wealth Management LLC now owns 4,811 shares of the insurance provider’s stock valued at $1,197,000 after purchasing an additional 608 shares in the last quarter. Finally, Carolina Wealth Advisors LLC increased its holdings in RenaissanceRe by 2.8% in the 4th quarter. Carolina Wealth Advisors LLC now owns 2,797 shares of the insurance provider’s stock valued at $696,000 after purchasing an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Performance

RNR opened at $252.38 on Friday. The business’s 50 day moving average is $261.88 and its 200-day moving average is $256.03. The stock has a market cap of $13.11 billion, a PE ratio of 3.64, a price-to-earnings-growth ratio of 1.90 and a beta of 0.44. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.18. RenaissanceRe Holdings Ltd. has a twelve month low of $205.62 and a twelve month high of $300.00.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share for the quarter, beating analysts’ consensus estimates of $7.89 by $2.34. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.35 billion. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. The business’s revenue for the quarter was up 52.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.33 earnings per share. On average, analysts predict that RenaissanceRe Holdings Ltd. will post 42.52 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a dividend of $0.39 per share. The ex-dividend date was Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.62%. RenaissanceRe’s dividend payout ratio is presently 2.25%.

Analysts Set New Price Targets

Several analysts have recently weighed in on RNR shares. StockNews.com downgraded RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Bank of America increased their price target on shares of RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods increased their price target on shares of RenaissanceRe from $310.00 to $318.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Wells Fargo & Company cut their target price on shares of RenaissanceRe from $301.00 to $288.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Finally, Evercore ISI raised their target price on shares of RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $284.00.

Insider Activity at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total transaction of $254,160.00. Following the transaction, the executive vice president now owns 79,392 shares in the company, valued at $20,178,270.72. This trade represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.30% of the company’s stock.

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.