Integrated Wealth Concepts LLC Purchases 302 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Integrated Wealth Concepts LLC lifted its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 2.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 12,200 shares of the insurance provider’s stock after acquiring an additional 302 shares during the period. Integrated Wealth Concepts LLC’s holdings in RenaissanceRe were worth $3,323,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RNR. Cetera Advisors LLC bought a new stake in shares of RenaissanceRe during the 1st quarter valued at $201,000. Park Avenue Securities LLC grew its holdings in RenaissanceRe by 3.2% in the second quarter. Park Avenue Securities LLC now owns 3,626 shares of the insurance provider’s stock worth $810,000 after purchasing an additional 112 shares during the period. CWM LLC increased its stake in shares of RenaissanceRe by 28.4% during the second quarter. CWM LLC now owns 783 shares of the insurance provider’s stock valued at $175,000 after purchasing an additional 173 shares in the last quarter. Nepsis Inc. lifted its holdings in shares of RenaissanceRe by 0.9% during the second quarter. Nepsis Inc. now owns 91,072 shares of the insurance provider’s stock valued at $20,356,000 after purchasing an additional 831 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of RenaissanceRe by 1.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,681 shares of the insurance provider’s stock worth $1,493,000 after purchasing an additional 87 shares in the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $279.00, for a total transaction of $279,000.00. Following the completion of the sale, the executive vice president now directly owns 82,044 shares of the company’s stock, valued at approximately $22,890,276. This represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by corporate insiders.

RenaissanceRe Stock Performance

Shares of RNR stock opened at $287.06 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.18. The company has a 50 day moving average price of $272.25 and a 200-day moving average price of $248.15. RenaissanceRe Holdings Ltd. has a 52 week low of $188.24 and a 52 week high of $300.00. The firm has a market capitalization of $14.91 billion, a PE ratio of 4.14, a P/E/G ratio of 1.40 and a beta of 0.41.

RenaissanceRe (NYSE:RNR) last posted its earnings results on Wednesday, November 6th. The insurance provider reported $10.23 EPS for the quarter, topping analysts’ consensus estimates of $7.89 by $2.34. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.35 billion. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The firm’s revenue was up 52.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.33 EPS. As a group, equities research analysts expect that RenaissanceRe Holdings Ltd. will post 41.94 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Friday, December 13th. RenaissanceRe’s dividend payout ratio (DPR) is presently 2.25%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RNR. Citigroup lifted their price objective on RenaissanceRe from $262.00 to $298.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Barclays assumed coverage on RenaissanceRe in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $287.00 price target for the company. Evercore ISI increased their price objective on shares of RenaissanceRe from $229.00 to $246.00 and gave the company an “underperform” rating in a research report on Thursday, November 7th. Wells Fargo & Company raised their price objective on shares of RenaissanceRe from $280.00 to $314.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, StockNews.com downgraded shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $293.00.

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.