Kestra Investment Management LLC Acquires 628 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Kestra Investment Management LLC lifted its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 46.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,991 shares of the insurance provider’s stock after acquiring an additional 628 shares during the quarter. Kestra Investment Management LLC’s holdings in RenaissanceRe were worth $495,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of RenaissanceRe by 51.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 41 shares during the last quarter. Advisors Asset Management Inc. purchased a new position in shares of RenaissanceRe in the third quarter worth $45,000. UMB Bank n.a. increased its stake in shares of RenaissanceRe by 40.0% in the fourth quarter. UMB Bank n.a. now owns 175 shares of the insurance provider’s stock worth $44,000 after buying an additional 50 shares during the period. LRI Investments LLC increased its stake in shares of RenaissanceRe by 668.8% in the third quarter. LRI Investments LLC now owns 246 shares of the insurance provider’s stock worth $63,000 after buying an additional 214 shares during the period. Finally, ORG Wealth Partners LLC increased its stake in shares of RenaissanceRe by 129.4% in the fourth quarter. ORG Wealth Partners LLC now owns 250 shares of the insurance provider’s stock worth $62,000 after buying an additional 141 shares during the period. 99.97% of the stock is currently owned by institutional investors.

RenaissanceRe Stock Up 0.7 %

NYSE:RNR opened at $232.60 on Wednesday. The company has a market capitalization of $11.46 billion, a PE ratio of 6.64, a P/E/G ratio of 2.11 and a beta of 0.43. The firm’s 50-day moving average price is $248.23 and its 200-day moving average price is $258.13. RenaissanceRe Holdings Ltd. has a 1-year low of $208.98 and a 1-year high of $300.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.94 by $1.12. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. On average, equities analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.40 dividend. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. This represents a $1.60 dividend on an annualized basis and a yield of 0.69%. RenaissanceRe’s payout ratio is presently 4.45%.

Analyst Ratings Changes

Several research analysts recently commented on RNR shares. Jefferies Financial Group reaffirmed a “hold” rating and issued a $282.00 target price (down from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. Wells Fargo & Company decreased their target price on shares of RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. JPMorgan Chase & Co. lifted their target price on shares of RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a research note on Friday, January 3rd. Morgan Stanley decreased their target price on shares of RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Finally, Evercore ISI boosted 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. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, RenaissanceRe currently has a consensus rating of “Hold” and a consensus price target of $279.90.

Insider Buying and Selling

In related news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total value of $254,160.00. Following the transaction, the executive vice president now owns 79,392 shares in the company, valued at $20,178,270.72. The trade was a 1.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.80% of the stock is currently owned by company insiders.

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.