966 Shares in RenaissanceRe Holdings Ltd. (NYSE:RNR) Acquired by EntryPoint Capital LLC

EntryPoint Capital LLC bought a new position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 966 shares of the insurance provider’s stock, valued at approximately $240,000.

Several other institutional investors and hedge funds also recently made changes to their positions in RNR. Advisors Asset Management Inc. acquired a new stake in shares of RenaissanceRe during the third quarter worth $45,000. Citigroup Inc. grew its position in shares of RenaissanceRe by 367.4% during the 3rd quarter. Citigroup Inc. now owns 30,476 shares of the insurance provider’s stock worth $8,302,000 after buying an additional 23,956 shares during the period. Cerity Partners LLC raised its position in shares of RenaissanceRe by 69.3% in the 3rd quarter. Cerity Partners LLC now owns 17,671 shares of the insurance provider’s stock valued at $4,814,000 after acquiring an additional 7,231 shares during the period. Independent Advisor Alliance bought a new position in RenaissanceRe during the 3rd quarter worth approximately $218,000. Finally, Bank of Montreal Can grew its holdings in RenaissanceRe by 6.4% during the third quarter. Bank of Montreal Can now owns 44,549 shares of the insurance provider’s stock valued at $12,002,000 after purchasing an additional 2,695 shares during the period. Institutional investors own 99.97% of the company’s stock.

Wall Street Analyst Weigh In

RNR has been the topic of several analyst reports. JMP Securities reiterated a “market perform” rating on shares of RenaissanceRe in a report on Thursday, January 30th. Bank of America reduced their target price on RenaissanceRe from $437.00 to $426.00 and set a “buy” rating on the stock in a report on Wednesday. Jefferies Financial Group restated a “hold” rating and issued a $282.00 price target (down from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. JPMorgan Chase & Co. raised their price target on RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company decreased their price objective on RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $283.40.

RenaissanceRe Trading Down 1.7 %

NYSE:RNR opened at $242.46 on Friday. The company has a market cap of $11.94 billion, a P/E ratio of 6.92, a price-to-earnings-growth ratio of 2.09 and a beta of 0.38. RenaissanceRe Holdings Ltd. has a twelve month low of $208.98 and a twelve month high of $300.00. The business has a 50 day moving average price of $239.76 and a two-hundred day moving average price of $256.52. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19.

RenaissanceRe (NYSE:RNR) last announced its earnings results on Tuesday, January 28th. The insurance provider reported $8.06 EPS for the quarter, topping 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%. As a group, analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.40 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.66%. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s payout ratio is currently 4.57%.

Insider Buying and Selling

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total value of $254,160.00. Following the completion of the sale, the executive vice president now owns 79,392 shares in the company, valued at $20,178,270.72. This trade represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.30% of the stock is currently owned by corporate insiders.

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.