949 Shares in RenaissanceRe Holdings Ltd. (NYSE:RNR) Acquired by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC bought a new position in RenaissanceRe Holdings Ltd. (NYSE:RNR) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 949 shares of the insurance provider’s stock, valued at approximately $223,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in RNR. Fiera Capital Corp increased its position in shares of RenaissanceRe by 637.3% in the fourth quarter. Fiera Capital Corp now owns 199,166 shares of the insurance provider’s stock worth $39,037,000 after acquiring an additional 172,154 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of RenaissanceRe by 2.0% in the fourth quarter. Principal Financial Group Inc. now owns 193,146 shares of the insurance provider’s stock worth $37,857,000 after acquiring an additional 3,797 shares in the last quarter. Retirement Systems of Alabama increased its position in shares of RenaissanceRe by 7.2% in the fourth quarter. Retirement Systems of Alabama now owns 125,847 shares of the insurance provider’s stock worth $24,666,000 after acquiring an additional 8,441 shares in the last quarter. Royal London Asset Management Ltd. increased its position in shares of RenaissanceRe by 38.3% in the fourth quarter. Royal London Asset Management Ltd. now owns 24,811 shares of the insurance provider’s stock worth $4,863,000 after acquiring an additional 6,874 shares in the last quarter. Finally, American International Group Inc. increased its position in shares of RenaissanceRe by 1,829.6% in the fourth quarter. American International Group Inc. now owns 1,393,546 shares of the insurance provider’s stock worth $273,135,000 after acquiring an additional 1,321,325 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors.

RenaissanceRe Price Performance

NYSE:RNR opened at $224.50 on Friday. The stock has a market cap of $11.87 billion, a P/E ratio of 4.96, a PEG ratio of 1.61 and a beta of 0.38. RenaissanceRe Holdings Ltd. has a one year low of $174.22 and a one year high of $239.42. The company has a fifty day moving average price of $223.97 and a 200 day moving average price of $223.64. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.41.

RenaissanceRe (NYSE:RNR) last released its earnings results on Tuesday, April 30th. The insurance provider reported $12.18 EPS for the quarter, beating the consensus estimate of $9.86 by $2.32. The firm had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.05 billion. RenaissanceRe had a net margin of 25.38% and a return on equity of 27.74%. The business’s quarterly revenue was up 41.3% compared to the same quarter last year. During the same period in the prior year, the company earned $8.16 EPS. Analysts anticipate that RenaissanceRe Holdings Ltd. will post 37.43 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.69%. The ex-dividend date was Friday, June 14th. RenaissanceRe’s dividend payout ratio (DPR) is presently 3.45%.

Insider Buying and Selling at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $230.00, for a total value of $230,000.00. Following the sale, the executive vice president now owns 85,544 shares of the company’s stock, valued at approximately $19,675,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on RNR shares. Wells Fargo & Company dropped their target price on shares of RenaissanceRe from $288.00 to $280.00 and set an “overweight” rating on the stock in a research report on Friday. JPMorgan Chase & Co. boosted their price objective on shares of RenaissanceRe from $265.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday. UBS Group lowered their price objective on shares of RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Morgan Stanley lowered their price objective on shares of RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Finally, Bank of America boosted their price objective on shares of RenaissanceRe from $334.00 to $347.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $263.40.

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.