Wealth Enhancement Advisory Services LLC Has $3.86 Million Stock Holdings in RenaissanceRe Holdings Ltd. $RNR

Wealth Enhancement Advisory Services LLC increased its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 68.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,171 shares of the insurance provider’s stock after acquiring an additional 5,782 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in RenaissanceRe were worth $3,855,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of RNR. MassMutual Private Wealth & Trust FSB increased its position in RenaissanceRe by 20.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 230 shares of the insurance provider’s stock worth $65,000 after purchasing an additional 39 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of RenaissanceRe by 1.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 3,355 shares of the insurance provider’s stock valued at $852,000 after buying an additional 40 shares during the last quarter. AMG National Trust Bank lifted its holdings in shares of RenaissanceRe by 0.7% during the 3rd quarter. AMG National Trust Bank now owns 5,787 shares of the insurance provider’s stock valued at $1,469,000 after buying an additional 40 shares during the last quarter. Benedict Financial Advisors Inc. grew its stake in shares of RenaissanceRe by 0.3% in the 2nd quarter. Benedict Financial Advisors Inc. now owns 12,577 shares of the insurance provider’s stock valued at $3,055,000 after buying an additional 42 shares in the last quarter. Finally, Miracle Mile Advisors LLC grew its stake in shares of RenaissanceRe by 3.8% in the 3rd quarter. Miracle Mile Advisors LLC now owns 1,257 shares of the insurance provider’s stock valued at $319,000 after buying an additional 46 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

Analysts Set New Price Targets

RNR has been the topic of a number of research analyst reports. TD Cowen raised their target price on shares of RenaissanceRe from $280.00 to $290.00 and gave the company a “hold” rating in a research note on Thursday, February 26th. Barclays upped their price target on shares of RenaissanceRe from $278.00 to $304.00 and gave the company an “equal weight” rating in a report on Thursday, January 8th. JPMorgan Chase & Co. raised their price target on RenaissanceRe from $303.00 to $329.00 and gave the company a “neutral” rating in a research report on Wednesday, January 7th. Weiss Ratings reissued a “buy (b)” rating on shares of RenaissanceRe in a research report on Friday. Finally, Cantor Fitzgerald increased their target price on RenaissanceRe from $252.00 to $282.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Two analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, RenaissanceRe presently has a consensus rating of “Hold” and an average price target of $302.00.

Insider Activity at RenaissanceRe

In other news, EVP Robert Qutub sold 5,000 shares of RenaissanceRe stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $305.75, for a total transaction of $1,528,750.00. Following the sale, the executive vice president owned 73,023 shares of the company’s stock, valued at approximately $22,326,782.25. This trade represents a 6.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.30% of the company’s stock.

RenaissanceRe Stock Performance

NYSE RNR opened at $295.36 on Tuesday. The company’s fifty day moving average is $293.62 and its two-hundred day moving average is $273.34. RenaissanceRe Holdings Ltd. has a 52-week low of $219.00 and a 52-week high of $315.88. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a market capitalization of $12.74 billion, a price-to-earnings ratio of 5.21, a P/E/G ratio of 0.68 and a beta of 0.21.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Tuesday, February 3rd. The insurance provider reported $13.34 EPS for the quarter, beating analysts’ consensus estimates of $10.59 by $2.75. RenaissanceRe had a net margin of 20.88% and a return on equity of 18.29%. The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the business earned $8.06 earnings per share. The firm’s revenue for the quarter was up 29.6% on a year-over-year basis. Equities research analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be given a $0.41 dividend. The ex-dividend date is Friday, March 13th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 0.6%. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.40. RenaissanceRe’s dividend payout ratio is 2.89%.

RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.