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

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

Other institutional investors also recently bought and sold shares of the company. V Square Quantitative Management LLC lifted its holdings in shares of RenaissanceRe by 29.5% in the 3rd quarter. V Square Quantitative Management LLC now owns 180 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 41 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of 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 during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of RenaissanceRe by 19.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 272 shares of the insurance provider’s stock valued at $63,000 after purchasing an additional 45 shares during the last quarter. First Citizens Bank & Trust Co. lifted its holdings in shares of RenaissanceRe by 4.6% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 1,073 shares of the insurance provider’s stock valued at $292,000 after purchasing an additional 47 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of 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 during the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total value of $254,160.00. Following the sale, the executive vice president now owns 79,392 shares of the company’s stock, valued at approximately $20,178,270.72. This represents a 1.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is owned by corporate insiders.

RenaissanceRe Stock Performance

RNR opened at $252.38 on Friday. The stock has a market cap of $13.11 billion, a P/E ratio of 3.64, a P/E/G ratio of 1.90 and a beta of 0.44. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.43 and a quick ratio of 1.43. The stock’s 50 day simple moving average is $261.88 and its 200 day simple moving average is $256.03. RenaissanceRe Holdings Ltd. has a 1-year low of $205.62 and a 1-year 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, topping analysts’ consensus estimates of $7.89 by $2.34. The business 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 company’s revenue was up 52.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.33 EPS. As a group, equities analysts anticipate that RenaissanceRe Holdings Ltd. will post 42.52 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RNR shares. JPMorgan Chase & Co. boosted their price target on RenaissanceRe from $280.00 to $284.00 and gave the company a “neutral” rating in a research report on Friday, January 3rd. Bank of America boosted their price target on RenaissanceRe from $364.00 to $391.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Barclays cut RenaissanceRe from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $284.00 to $234.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods boosted their price target on RenaissanceRe from $310.00 to $318.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Finally, Evercore ISI boosted their target price on RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a research 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $284.00.

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.