Belpointe Asset Management LLC Purchases Shares of 380 RenaissanceRe Holdings Ltd. (NYSE:RNR)

Belpointe Asset Management LLC purchased a new position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR – Get Rating) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 380 shares of the insurance provider’s stock, valued at approximately $70,000.

Other hedge funds have also recently bought and sold shares of the company. Crossmark Global Holdings Inc. increased its stake in RenaissanceRe by 2.8% in the third quarter. Crossmark Global Holdings Inc. now owns 3,800 shares of the insurance provider’s stock valued at $533,000 after purchasing an additional 105 shares during the last quarter. Summit Global Investments acquired a new position in RenaissanceRe during the fourth quarter worth approximately $422,000. ProShare Advisors LLC increased its position in RenaissanceRe by 22.8% during the fourth quarter. ProShare Advisors LLC now owns 235,258 shares of the insurance provider’s stock worth $43,342,000 after purchasing an additional 43,645 shares during the last quarter. Markel Corp grew its stake in shares of RenaissanceRe by 600.0% during the 4th quarter. Markel Corp now owns 14,000 shares of the insurance provider’s stock valued at $2,579,000 after buying an additional 12,000 shares during the period. Finally, Arizona State Retirement System increased its holdings in shares of RenaissanceRe by 0.7% during the 3rd quarter. Arizona State Retirement System now owns 12,008 shares of the insurance provider’s stock worth $1,686,000 after buying an additional 89 shares during the last quarter. Institutional investors and hedge funds own 95.52% of the company’s stock.

RenaissanceRe Stock Performance

RNR opened at $198.86 on Monday. The company has a 50-day moving average of $202.85 and a 200-day moving average of $197.32. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.31 and a quick ratio of 1.31. RenaissanceRe Holdings Ltd. has a 1-year low of $124.18 and a 1-year high of $223.80.

RenaissanceRe (NYSE:RNR – Get Rating) last issued its quarterly earnings results on Tuesday, May 2nd. The insurance provider reported $8.16 earnings per share for the quarter, beating analysts’ consensus estimates of $7.34 by $0.82. RenaissanceRe had a positive return on equity of 11.89% and a negative net margin of 1.61%. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the previous year, the business earned $3.50 EPS. The business’s quarterly revenue was up 4.5% on a year-over-year basis. As a group, analysts forecast that RenaissanceRe Holdings Ltd. will post 23.94 EPS for the current year.

RenaissanceRe Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be given a dividend of $0.38 per share. The ex-dividend date is Wednesday, June 14th. This represents a $1.52 dividend on an annualized basis and a yield of 0.76%. RenaissanceRe’s dividend payout ratio is currently -41.99%.

Analysts Set New Price Targets

RNR has been the subject of a number of research reports. TheStreet raised RenaissanceRe from a “c+” rating to a “b” rating in a research report on Tuesday, January 31st. JPMorgan Chase & Co. boosted their price objective on shares of RenaissanceRe from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Friday, March 31st. StockNews.com initiated coverage on shares of RenaissanceRe in a research report on Thursday. They set a “hold” rating for the company. Jefferies Financial Group raised their price objective on RenaissanceRe from $215.00 to $221.00 and gave the company a “hold” rating in a research report on Monday, April 10th. Finally, Wells Fargo & Company upped their target price on RenaissanceRe from $245.00 to $256.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $206.80.

RenaissanceRe Company Profile

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RenaissanceRe Holdings Ltd. engages in the provision of reinsurance and insurance services. It operates through the following business segments: Property, Casualty and Specialty, and Other. The Property segment focuses on catastrophe, and other property reinsurance and insurance. The Casualty and Specialty segment deals with casualty and specialty reinsurance, and insurance.