Alaska Permanent Fund Corp Buys 1,063 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Alaska Permanent Fund Corp grew its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 6.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,921 shares of the insurance provider’s stock after acquiring an additional 1,063 shares during the quarter. Alaska Permanent Fund Corp’s holdings in RenaissanceRe were worth $3,317,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC purchased a new position in RenaissanceRe during the fourth quarter valued at approximately $37,000. Global Retirement Partners LLC boosted its stake in RenaissanceRe by 519.4% during the third quarter. Global Retirement Partners LLC now owns 192 shares of the insurance provider’s stock worth $39,000 after buying an additional 161 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new position in RenaissanceRe during the fourth quarter worth $38,000. Daiwa Securities Group Inc. acquired a new position in RenaissanceRe during the fourth quarter worth $39,000. Finally, VisionPoint Advisory Group LLC purchased a new position in shares of RenaissanceRe during the 3rd quarter worth $57,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RNR. BMO Capital Markets increased their target price on RenaissanceRe from $216.00 to $295.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. UBS Group increased their target price on RenaissanceRe from $229.00 to $238.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. JPMorgan Chase & Co. increased their price target on RenaissanceRe from $204.00 to $237.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. TD Cowen initiated coverage on RenaissanceRe in a research report on Wednesday, January 10th. They issued a “market perform” rating on the stock. Finally, Evercore ISI increased their price target on RenaissanceRe from $213.00 to $216.00 and gave the company an “underperform” rating in a research report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $247.89.

Insider Buying and Selling at RenaissanceRe

In other news, EVP David E. Marra sold 750 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $229.00, for a total transaction of $171,750.00. Following the completion of the sale, the executive vice president now owns 79,699 shares in the company, valued at approximately $18,251,071. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other RenaissanceRe news, Director Carol P. Sanders sold 880 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $227.59, for a total transaction of $200,279.20. Following the transaction, the director now directly owns 5,363 shares of the company’s stock, valued at $1,220,565.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP David E. Marra sold 750 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $229.00, for a total transaction of $171,750.00. Following the transaction, the executive vice president now directly owns 79,699 shares in the company, valued at $18,251,071. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,130 shares of company stock valued at $958,429. 1.80% of the stock is owned by corporate insiders.

RenaissanceRe Price Performance

RNR stock traded down $0.37 during midday trading on Wednesday, hitting $219.80. 291,757 shares of the stock were exchanged, compared to its average volume of 360,087. The stock’s 50-day moving average price is $227.41 and its 200-day moving average price is $216.04. The stock has a market cap of $11.59 billion, a price-to-earnings ratio of 4.30, a PEG ratio of 3.01 and a beta of 0.30. RenaissanceRe Holdings Ltd. has a fifty-two week low of $174.22 and a fifty-two week high of $239.42. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.40 and a current ratio of 1.40.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Tuesday, January 30th. The insurance provider reported $11.77 earnings per share for the quarter, topping the consensus estimate of $8.13 by $3.64. RenaissanceRe had a return on equity of 26.93% and a net margin of 28.04%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the prior year, the business earned $7.33 earnings per share. The company’s revenue was up 17.9% compared to the same quarter last year. Research analysts predict that RenaissanceRe Holdings Ltd. will post 34.41 earnings per share for the current year.

RenaissanceRe Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.39 per share. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.38. This represents a $1.56 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Thursday, March 14th. RenaissanceRe’s dividend payout ratio (DPR) is presently 3.05%.

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.