Avior Wealth Management LLC Raises Stock Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Avior Wealth Management LLC lifted its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 13.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,317 shares of the insurance provider’s stock after buying an additional 500 shares during the period. Avior Wealth Management LLC’s holdings in RenaissanceRe were worth $1,176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of RNR. Blue Trust Inc. purchased a new position in shares of RenaissanceRe during the 2nd quarter worth $27,000. ORG Wealth Partners LLC purchased a new position in shares of RenaissanceRe during the 3rd quarter valued at $30,000. V Square Quantitative Management LLC purchased a new position in shares of RenaissanceRe during the 2nd quarter valued at $31,000. UMB Bank n.a. lifted its stake in shares of RenaissanceRe by 316.7% during the 3rd quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock valued at $34,000 after buying an additional 95 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new position in shares of RenaissanceRe during the 1st quarter valued at $46,000. Institutional investors own 99.97% of the company’s stock.

Insider Buying and Selling at RenaissanceRe

In other 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 value of $279,000.00. Following the completion of the sale, the executive vice president now owns 82,044 shares of the company’s stock, valued at approximately $22,890,276. This represents a 1.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on RNR shares. Barclays started coverage on shares of RenaissanceRe in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $287.00 target price on the stock. StockNews.com downgraded shares of RenaissanceRe from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their price target on shares of RenaissanceRe from $274.00 to $280.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Jefferies Financial Group lifted their price target on shares of RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of RenaissanceRe from $316.00 to $310.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $293.00.

RenaissanceRe Stock Performance

Shares of NYSE:RNR opened at $264.30 on Thursday. The company has a market capitalization of $13.73 billion, a price-to-earnings ratio of 3.81, a PEG ratio of 1.32 and a beta of 0.39. RenaissanceRe Holdings Ltd. has a 12 month low of $188.24 and a 12 month high of $300.00. The firm’s 50-day moving average is $268.38 and its 200 day moving average is $244.22. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.18.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $10.23 EPS for the quarter, beating the consensus estimate of $7.89 by $2.34. The company had revenue of $2.16 billion for 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.33 EPS. Research analysts predict that RenaissanceRe Holdings Ltd. will post 40.31 EPS for the current year.

RenaissanceRe Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a $0.39 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.59%. RenaissanceRe’s dividend payout ratio (DPR) is 2.25%.

RenaissanceRe 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.