New Age Alpha Advisors LLC Invests $1.93 Million in RenaissanceRe Holdings Ltd. (NYSE:RNR)

New Age Alpha Advisors LLC purchased a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 7,768 shares of the insurance provider's stock, valued at approximately $1,933,000.

A number of other hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new position in RenaissanceRe in the 4th quarter valued at about $173,530,000. JPMorgan Chase & Co. lifted its holdings in RenaissanceRe by 3.5% in the fourth quarter. JPMorgan Chase & Co. now owns 120,718 shares of the insurance provider's stock valued at $30,036,000 after acquiring an additional 4,131 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new position in RenaissanceRe in the fourth quarter worth approximately $1,177,000. EntryPoint Capital LLC acquired a new stake in RenaissanceRe during the fourth quarter worth $240,000. Finally, Stevens Capital Management LP acquired a new stake in RenaissanceRe during the fourth quarter worth $206,000. Hedge funds and other institutional investors own 99.97% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on RNR shares. Keefe, Bruyette & Woods lowered their price target on RenaissanceRe from $318.00 to $294.00 and set an "outperform" rating for the company in a report on Tuesday, February 4th. Bank of America lowered their target price on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a research note on Wednesday, March 26th. JPMorgan Chase & Co. boosted their price target on shares of RenaissanceRe from $280.00 to $284.00 and gave the company a "neutral" rating in a research note on Friday, January 3rd. Wells Fargo & Company lowered their price objective on shares of RenaissanceRe from $288.00 to $277.00 and set an "overweight" rating for the company in a research report on Thursday, January 30th. Finally, JMP Securities reiterated a "market perform" rating on shares of RenaissanceRe in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $283.40.

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RenaissanceRe Stock Down 5.0 %

RenaissanceRe stock traded down $12.31 during mid-day trading on Friday, reaching $233.04. 869,557 shares of the company's stock were exchanged, compared to its average volume of 413,241. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. RenaissanceRe Holdings Ltd. has a twelve month low of $208.98 and a twelve month high of $300.00. The company has a market cap of $11.42 billion, a P/E ratio of 6.65, a P/E/G ratio of 2.09 and a beta of 0.29. The company has a fifty day moving average of $238.43 and a 200-day moving average of $255.98.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts expect 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 paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.69%. This is a positive change from RenaissanceRe's previous quarterly dividend of $0.39. The ex-dividend date was Friday, March 14th. RenaissanceRe's dividend payout ratio is presently 4.57%.

Insider Activity at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the 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 of the company's stock, valued at approximately $20,178,270.72. This represents a 1.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.30% of the stock is owned by corporate insiders.

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.