Bryce Point Capital LLC Makes New $1.46 Million Investment in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Bryce Point Capital LLC acquired a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 5,884 shares of the insurance provider’s stock, valued at approximately $1,464,000.

Other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in RenaissanceRe during the 4th quarter worth $29,000. MassMutual Private Wealth & Trust FSB increased its position in shares of RenaissanceRe by 51.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 41 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in RenaissanceRe by 1,587.5% in the fourth quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 127 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in RenaissanceRe by 71.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 65 shares during the last quarter. Finally, UMB Bank n.a. increased its holdings in RenaissanceRe by 40.0% during the 4th quarter. UMB Bank n.a. now owns 175 shares of the insurance provider’s stock worth $44,000 after purchasing an additional 50 shares during the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 79,392 shares in the company, valued at $20,178,270.72. The trade was a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on RNR. Keefe, Bruyette & Woods reduced their target price on RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a research note on Tuesday, February 4th. Barclays downgraded shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $284.00 to $234.00 in a research report on Monday, January 6th. JMP Securities reiterated a “market perform” rating on shares of RenaissanceRe in a research note on Thursday, January 30th. Morgan Stanley cut their price objective on RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. lifted their target price on RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a research report on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $283.40.

RenaissanceRe Stock Up 2.1 %

RNR stock opened at $245.09 on Wednesday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. The firm’s 50-day simple moving average is $239.17 and its 200 day simple moving average is $256.34. The stock has a market cap of $12.01 billion, a PE ratio of 7.00, a price-to-earnings-growth ratio of 2.09 and a beta of 0.38. RenaissanceRe Holdings Ltd. has a fifty-two week low of $208.98 and a fifty-two week high of $300.00.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.94 by $1.12. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. As a group, sell-side analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $0.40 per share. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.60 annualized dividend and a yield of 0.65%. RenaissanceRe’s payout ratio is presently 4.57%.

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.