Yousif Capital Management LLC Increases Stock Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Yousif Capital Management LLC increased its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 2.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,692 shares of the insurance provider’s stock after purchasing an additional 584 shares during the quarter. Yousif Capital Management LLC’s holdings in RenaissanceRe were worth $4,840,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC bought a new position in RenaissanceRe during the 4th quarter valued at $37,000. Bruce G. Allen Investments LLC bought a new position in RenaissanceRe during the 4th quarter valued at $38,000. Global Retirement Partners LLC boosted its stake in RenaissanceRe by 519.4% during the 3rd quarter. Global Retirement Partners LLC now owns 192 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 161 shares during the last quarter. Daiwa Securities Group Inc. bought a new position in RenaissanceRe during the 4th quarter valued at $39,000. Finally, VisionPoint Advisory Group LLC bought a new position in RenaissanceRe during the 3rd quarter valued at $57,000. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Robert Qutub sold 2,500 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $234.56, for a total value of $586,400.00. Following the sale, the chief financial officer now owns 70,424 shares of the company’s stock, valued at approximately $16,518,653.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other RenaissanceRe news, CFO Robert Qutub sold 2,500 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $234.56, for a total transaction of $586,400.00. Following the sale, the chief financial officer now directly owns 70,424 shares in the company, valued at approximately $16,518,653.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carol P. Sanders sold 880 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $227.59, for a total transaction of $200,279.20. Following the sale, the director now owns 5,363 shares in the company, valued at $1,220,565.17. The disclosure for this sale can be found here. Insiders have sold a total of 4,130 shares of company stock valued at $958,429 in the last quarter. Company insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

RNR has been the topic of a number of research analyst reports. UBS Group increased their price objective on shares of RenaissanceRe from $229.00 to $238.00 and gave the company a “neutral” rating in a research note on Monday, February 5th. JPMorgan Chase & Co. increased their price objective on shares of RenaissanceRe from $204.00 to $237.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Evercore ISI increased their target price on shares of RenaissanceRe from $213.00 to $216.00 and gave the stock an “underperform” rating in a report on Thursday, April 11th. BMO Capital Markets increased their target price on shares of RenaissanceRe from $216.00 to $295.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Finally, TD Cowen started coverage on shares of RenaissanceRe in a report on Wednesday, January 10th. They set a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $247.89.

RenaissanceRe Stock Down 0.1 %

Shares of NYSE:RNR opened at $219.34 on Friday. 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 Holdings Ltd. has a 1-year low of $174.22 and a 1-year high of $239.42. The company’s fifty day moving average is $226.91 and its two-hundred day moving average is $216.17. The stock has a market capitalization of $11.56 billion, a price-to-earnings ratio of 4.28, a price-to-earnings-growth ratio of 2.91 and a beta of 0.30.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings data on Tuesday, January 30th. The insurance provider reported $11.77 earnings per share for the quarter, topping analysts’ consensus estimates of $8.13 by $3.64. RenaissanceRe had a net margin of 28.04% and a return on equity of 26.93%. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter last year, the company earned $7.33 EPS. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. Equities analysts anticipate that RenaissanceRe Holdings Ltd. will post 34.43 EPS for the current year.

RenaissanceRe Increases Dividend

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

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.