7,768 Shares in RenaissanceRe Holdings Ltd. (NYSE:RNR) Acquired by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC acquired a new position in RenaissanceRe Holdings Ltd. (NYSE:RNR) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 7,768 shares of the insurance provider’s stock, valued at approximately $1,933,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RNR. Norges Bank bought a new stake in RenaissanceRe during the fourth quarter worth approximately $173,530,000. JPMorgan Chase & Co. raised its stake in shares of RenaissanceRe by 3.5% during the fourth quarter. JPMorgan Chase & Co. now owns 120,718 shares of the insurance provider’s stock valued at $30,036,000 after acquiring an additional 4,131 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of RenaissanceRe in the 4th quarter worth $1,177,000. EntryPoint Capital LLC purchased a new position in RenaissanceRe during the 4th quarter valued at about $240,000. Finally, Stevens Capital Management LP purchased a new position in RenaissanceRe during the fourth quarter valued at approximately $206,000. 99.97% of the stock is currently owned by institutional investors.

RenaissanceRe Stock Down 1.7 %

RNR stock opened at $242.46 on Monday. The company’s 50 day moving average price is $239.76 and its 200 day moving average price is $256.53. The firm has a market capitalization of $11.88 billion, a price-to-earnings ratio of 6.92, a PEG ratio of 2.09 and a beta of 0.38. RenaissanceRe Holdings Ltd. has a fifty-two week low of $208.98 and a fifty-two week high of $300.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share for the quarter, beating analysts’ consensus estimates of $6.94 by $1.12. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. On average, equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.40 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.66%. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s dividend payout ratio is presently 4.57%.

Wall Street Analysts Forecast Growth

RNR has been the topic of several analyst reports. Jefferies Financial Group reaffirmed a “hold” rating and issued a $282.00 price target (down from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. Morgan Stanley lowered their target price on shares of RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company cut their price target on RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. JMP Securities restated a “market perform” rating on shares of RenaissanceRe in a research report on Thursday, January 30th. Finally, Barclays cut RenaissanceRe from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $284.00 to $234.00 in a report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, RenaissanceRe currently has an average rating of “Hold” and an average price target of $283.40.

Insider Transactions at RenaissanceRe

In other RenaissanceRe 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 sale, the executive vice president now owns 79,392 shares of the company’s stock, valued at approximately $20,178,270.72. This trade represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.

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.