2,548 Shares in RenaissanceRe Holdings Ltd. $RNR Bought by Atlas Capital Advisors Inc.

Atlas Capital Advisors Inc. bought a new position in RenaissanceRe Holdings Ltd. (NYSE:RNR) during the 4th quarter, Holdings Channel reports. The institutional investor bought 2,548 shares of the insurance provider’s stock, valued at approximately $716,000.

Several other large investors have also made changes to their positions in RNR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of RenaissanceRe by 39.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,687 shares of the insurance provider’s stock worth $2,325,000 after buying an additional 2,737 shares during the period. Millennium Management LLC purchased a new position in shares of RenaissanceRe in the 1st quarter worth $15,289,000. Jones Financial Companies Lllp raised its position in shares of RenaissanceRe by 900.0% in the 1st quarter. Jones Financial Companies Lllp now owns 1,350 shares of the insurance provider’s stock worth $324,000 after buying an additional 1,215 shares during the period. Goldman Sachs Group Inc. raised its position in shares of RenaissanceRe by 72.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 57,186 shares of the insurance provider’s stock worth $13,725,000 after buying an additional 24,027 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of RenaissanceRe by 18.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 441 shares of the insurance provider’s stock worth $107,000 after buying an additional 69 shares during the period. 99.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RNR has been the topic of several research reports. Keefe, Bruyette & Woods raised their price objective on RenaissanceRe from $323.00 to $327.00 and gave the company a “market perform” rating in a research report on Tuesday, April 7th. Cantor Fitzgerald raised RenaissanceRe from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $306.00 to $340.00 in a research report on Thursday, April 9th. Bank of America cut their price objective on RenaissanceRe to $426.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Citigroup upgraded RenaissanceRe from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $335.00 to $345.00 in a research note on Wednesday. Finally, TD Cowen lifted their price target on RenaissanceRe from $280.00 to $290.00 and gave the stock a “hold” rating in a research note on Thursday, February 26th. Five research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $323.64.

RenaissanceRe Stock Performance

Shares of RNR stock opened at $300.49 on Monday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.22. The business has a 50 day moving average of $299.00 and a two-hundred day moving average of $289.56. RenaissanceRe Holdings Ltd. has a 52 week low of $231.17 and a 52 week high of $318.20. The company has a market cap of $12.81 billion, a P/E ratio of 5.01, a PEG ratio of 1.13 and a beta of 0.19.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Tuesday, March 31st. The insurance provider reported $13.75 EPS for the quarter. RenaissanceRe had a return on equity of 24.01% and a net margin of 24.25%.The company had revenue of $2.19 billion during the quarter. As a group, analysts anticipate that RenaissanceRe Holdings Ltd. will post 40.05 EPS for the current year.

RenaissanceRe Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Monday, June 15th. RenaissanceRe’s payout ratio is presently 2.73%.

About RenaissanceRe

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.