Choreo LLC Acquires Shares of 12,010 RenaissanceRe Holdings Ltd. (NYSE:RNR)

Choreo LLC acquired a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) during the fourth quarter, Holdings Channel reports. The fund acquired 12,010 shares of the insurance provider’s stock, valued at approximately $2,993,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. ORG Wealth Partners LLC acquired a new stake in shares of RenaissanceRe during the third quarter worth $30,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of RenaissanceRe by 51.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 41 shares during the period. UMB Bank n.a. raised its holdings in shares of RenaissanceRe by 316.7% during the third quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 95 shares during the period. Advisors Asset Management Inc. acquired a new stake in shares of RenaissanceRe during the third quarter worth $45,000. Finally, V Square Quantitative Management LLC raised its holdings in shares of RenaissanceRe by 29.5% during the third quarter. V Square Quantitative Management LLC now owns 180 shares of the insurance provider’s stock worth $49,000 after purchasing an additional 41 shares during the period. 99.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total transaction of $254,160.00. Following the completion of the transaction, the executive vice president now owns 79,392 shares in the company, valued at approximately $20,178,270.72. This trade represents a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.80% of the company’s stock.

RenaissanceRe Stock Up 2.8 %

RenaissanceRe stock opened at $240.59 on Friday. The stock has a market cap of $12.50 billion, a price-to-earnings ratio of 6.87, a PEG ratio of 1.65 and a beta of 0.43. The company has a current ratio of 1.42, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. The company’s 50-day moving average price is $255.99 and its two-hundred day moving average price is $257.38. RenaissanceRe Holdings Ltd. has a 52 week low of $208.98 and a 52 week high of $300.00.

RenaissanceRe (NYSE:RNR) last released its earnings results on Tuesday, January 28th. The insurance provider reported $8.06 EPS for the quarter, beating the consensus estimate of $6.94 by $1.12. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. On average, analysts expect that RenaissanceRe Holdings Ltd. will post 33.43 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.40 per share. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.60 annualized dividend and a dividend yield of 0.67%. RenaissanceRe’s dividend payout ratio (DPR) is 4.45%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RNR. JMP Securities reissued a “market perform” rating on shares of RenaissanceRe in a report on Thursday, January 30th. Evercore ISI increased their price objective on shares of RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. increased their price objective on shares of RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a report on Friday, January 3rd. StockNews.com cut shares of RenaissanceRe from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Finally, Bank of America increased their price objective on shares of RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, RenaissanceRe currently has a consensus rating of “Hold” and an average price target of $279.90.

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.