Cerity Partners LLC Purchases 393 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Cerity Partners LLC raised its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 14.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,190 shares of the insurance provider’s stock after purchasing an additional 393 shares during the quarter. Cerity Partners LLC’s holdings in RenaissanceRe were worth $625,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RNR. Bruce G. Allen Investments LLC purchased a new position in RenaissanceRe during the fourth quarter valued at $38,000. Global Retirement Partners LLC lifted its position in shares of RenaissanceRe by 519.4% during the 3rd quarter. Global Retirement Partners LLC now owns 192 shares of the insurance provider’s stock valued at $39,000 after buying an additional 161 shares in the last quarter. VisionPoint Advisory Group LLC bought a new position in shares of RenaissanceRe during the 3rd quarter valued at approximately $57,000. CWM LLC increased its holdings in RenaissanceRe by 200.0% in the 3rd quarter. CWM LLC now owns 636 shares of the insurance provider’s stock worth $126,000 after acquiring an additional 424 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in RenaissanceRe during the 3rd quarter worth approximately $143,000. Hedge funds and other institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Performance

RNR opened at $219.75 on Thursday. The firm’s 50-day moving average price is $227.24 and its 200-day moving average price is $216.06. The company has a market cap of $11.58 billion, a P/E ratio of 4.29, a price-to-earnings-growth ratio of 3.01 and a beta of 0.30. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.23. RenaissanceRe Holdings Ltd. has a 52-week low of $174.22 and a 52-week high of $239.42.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Tuesday, January 30th. The insurance provider reported $11.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.13 by $3.64. RenaissanceRe had a net margin of 28.04% and a return on equity of 26.93%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the prior year, the business posted $7.33 EPS. RenaissanceRe’s revenue for the quarter was up 17.9% compared to the same quarter last year. As a group, equities analysts anticipate that RenaissanceRe Holdings Ltd. will post 34.41 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.39 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.71%. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.38. RenaissanceRe’s payout ratio is currently 3.05%.

Insider Buying and Selling at RenaissanceRe

In related news, CFO Robert Qutub sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $234.56, for a total value of $586,400.00. Following the sale, the chief financial officer now owns 70,424 shares in the company, valued at $16,518,653.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Carol P. Sanders sold 880 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $227.59, for a total value of $200,279.20. Following the completion of the transaction, the director now owns 5,363 shares of the company’s stock, valued at approximately $1,220,565.17. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Robert Qutub sold 2,500 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $234.56, for a total value of $586,400.00. Following the completion of the sale, the chief financial officer now owns 70,424 shares in the company, valued at approximately $16,518,653.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,130 shares of company stock worth $958,429. 1.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RNR. UBS Group increased their price objective on shares of RenaissanceRe from $229.00 to $238.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. TD Cowen assumed coverage on RenaissanceRe in a report on Wednesday, January 10th. They issued a “market perform” rating on the stock. JPMorgan Chase & Co. upped their price objective on RenaissanceRe from $204.00 to $237.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Evercore ISI lifted their target price on RenaissanceRe from $213.00 to $216.00 and gave the company an “underperform” rating in a research note on Thursday, April 11th. Finally, BMO Capital Markets increased their price target on shares of RenaissanceRe from $216.00 to $295.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $247.89.

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.