Bryce Point Capital LLC Takes Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Bryce Point Capital LLC bought a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,884 shares of the insurance provider's stock, valued at approximately $1,464,000.

Other hedge funds have also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new stake in RenaissanceRe during the fourth quarter valued at about $29,000. MassMutual Private Wealth & Trust FSB increased its holdings in RenaissanceRe by 51.3% in the 4th 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 in the last quarter. Jones Financial Companies Lllp raised its stake in RenaissanceRe by 1,587.5% during the 4th quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock worth $34,000 after acquiring an additional 127 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of RenaissanceRe by 71.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock worth $39,000 after purchasing an additional 65 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of RenaissanceRe by 40.0% in the fourth 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 period. Institutional investors own 99.97% of the company's stock.

RenaissanceRe Trading Down 5.3 %

RNR traded down $12.34 on Monday, hitting $220.33. The company had a trading volume of 206,763 shares, compared to its average volume of 539,900. RenaissanceRe Holdings Ltd. has a 12-month low of $208.98 and a 12-month high of $300.00. 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 business's fifty day simple moving average is $238.43 and its 200 day simple moving average is $255.88. The company has a market cap of $10.80 billion, a PE ratio of 6.27, a PEG ratio of 2.09 and a beta of 0.29.

RenaissanceRe (NYSE:RNR - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share 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%. Equities research analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The company also recently declared 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 represents a $1.60 annualized dividend and a yield of 0.73%. This is an increase 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%.

Wall Street Analysts Forecast Growth

RNR has been the topic of a number of analyst reports. Wells Fargo & Company lowered their target price on shares of RenaissanceRe from $288.00 to $277.00 and set an "overweight" rating on the stock in a research note on Thursday, January 30th. Barclays cut RenaissanceRe from an "equal weight" rating to an "underweight" rating and cut their target price for the stock from $284.00 to $234.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. upped their price target on RenaissanceRe from $280.00 to $284.00 and gave the stock a "neutral" rating in a research note on Friday, January 3rd. Morgan Stanley lowered their target price on shares of RenaissanceRe from $265.00 to $245.00 and set an "equal weight" rating on the stock in a report on Friday, January 31st. Finally, Jefferies Financial Group reaffirmed a "hold" rating and set a $282.00 target price (down from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $283.40.

Insiders Place Their Bets

In related news, EVP David E. Marra sold 1,000 shares of the business's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total transaction of $254,160.00. Following the completion of the transaction, the executive vice president now 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is owned by insiders.

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.