Algert Global LLC Boosts Holdings in RenaissanceRe Holdings Ltd. $RNR

Algert Global LLC increased its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 82.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 27,800 shares of the insurance provider’s stock after purchasing an additional 12,540 shares during the quarter. Algert Global LLC’s holdings in RenaissanceRe were worth $7,059,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Financial Consulate Inc. acquired a new position in shares of RenaissanceRe in the 3rd quarter valued at $29,000. Farther Finance Advisors LLC increased its position in shares of RenaissanceRe by 151.9% during the third quarter. Farther Finance Advisors LLC now owns 131 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 79 shares during the last quarter. Root Financial Partners LLC acquired a new stake in shares of RenaissanceRe during the third quarter valued at about $36,000. Mather Group LLC. purchased a new stake in shares of RenaissanceRe in the 3rd quarter valued at approximately $52,000. Finally, Smartleaf Asset Management LLC raised its stake in shares of RenaissanceRe by 191.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 248 shares of the insurance provider’s stock valued at $62,000 after acquiring an additional 163 shares during the period. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Robert Qutub sold 5,000 shares of the business’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $305.75, for a total transaction of $1,528,750.00. Following the completion of the transaction, the executive vice president directly owned 73,023 shares of the company’s stock, valued at approximately $22,326,782.25. The trade was a 6.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.00% of the company’s stock.

RenaissanceRe Stock Performance

Shares of RNR stock opened at $294.09 on Tuesday. The firm has a 50 day moving average of $289.45 and a two-hundred day moving average of $269.71. The stock has a market capitalization of $12.79 billion, a PE ratio of 5.19, a P/E/G ratio of 0.68 and a beta of 0.21. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.21. RenaissanceRe Holdings Ltd. has a 52 week low of $219.00 and a 52 week high of $315.88.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Tuesday, February 3rd. The insurance provider reported $13.34 earnings per share for the quarter, topping analysts’ consensus estimates of $10.59 by $2.75. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $1.73 billion. RenaissanceRe had a return on equity of 18.29% and a net margin of 20.88%.The company’s revenue was up 29.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.06 earnings per share. On average, research analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be given a $0.41 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.64 dividend on an annualized basis and a yield of 0.6%. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.40. RenaissanceRe’s dividend payout ratio is 2.89%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RNR. UBS Group reaffirmed a “neutral” rating and set a $312.00 price objective on shares of RenaissanceRe in a research report on Monday, February 9th. The Goldman Sachs Group reissued a “sell” rating and issued a $267.00 target price on shares of RenaissanceRe in a research report on Wednesday, January 7th. Wall Street Zen upgraded RenaissanceRe from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Wells Fargo & Company lifted their price objective on RenaissanceRe from $281.00 to $306.00 and gave the company an “equal weight” rating in a research note on Thursday, February 5th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of RenaissanceRe in a report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $310.27.

RenaissanceRe Profile

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.