Impact Partnership Wealth LLC Makes New Investment in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Impact Partnership Wealth LLC acquired a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,035 shares of the insurance provider's stock, valued at approximately $257,000.

Other institutional investors have also recently bought and sold shares of the company. Lifestyle Asset Management Inc. increased its holdings in RenaissanceRe by 1.1% during the 4th quarter. Lifestyle Asset Management Inc. now owns 4,645 shares of the insurance provider's stock valued at $1,156,000 after purchasing an additional 52 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in RenaissanceRe by 4.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 5,290 shares of the insurance provider's stock worth $1,316,000 after purchasing an additional 222 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of RenaissanceRe by 51.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider's stock valued at $30,000 after purchasing an additional 41 shares in the last quarter. UMB Bank n.a. grew its position in RenaissanceRe by 40.0% in the fourth quarter. UMB Bank n.a. now owns 175 shares of the insurance provider's stock valued at $44,000 after purchasing an additional 50 shares in the last quarter. Finally, HB Wealth Management LLC raised its stake in shares of RenaissanceRe by 14.5% during the 4th quarter. HB Wealth Management LLC now owns 4,811 shares of the insurance provider's stock worth $1,197,000 after purchasing an additional 608 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company's stock.

RenaissanceRe Price Performance

Shares of RNR traded up $4.17 during trading hours on Friday, reaching $256.14. 363,742 shares of the company's stock traded hands, compared to its average volume of 406,055. The firm's 50 day simple moving average is $261.80 and its 200-day simple moving average is $256.57. The stock has a market cap of $13.30 billion, a PE ratio of 3.69, a price-to-earnings-growth ratio of 1.90 and a beta of 0.44. RenaissanceRe Holdings Ltd. has a 12 month low of $205.62 and a 12 month high of $300.00. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.18.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $10.23 EPS for the quarter, beating analysts' consensus estimates of $7.89 by $2.34. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The business had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.35 billion. During the same period last year, the business earned $8.33 earnings per share. The business's quarterly revenue was up 52.1% on a year-over-year basis. Equities analysts expect that RenaissanceRe Holdings Ltd. will post 42.52 EPS for the current year.

RenaissanceRe Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend was Friday, December 13th. RenaissanceRe's payout ratio is 2.25%.

Insider Transactions at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total transaction of $254,160.00. Following the sale, the executive vice president now owns 79,392 shares of the company's stock, valued at approximately $20,178,270.72. The trade was a 1.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on RNR. Wells Fargo & Company decreased their price objective on shares of RenaissanceRe from $301.00 to $288.00 and set an "overweight" rating on the stock in a report on Tuesday, January 14th. Barclays downgraded shares of 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. lifted their target price on shares of RenaissanceRe from $280.00 to $284.00 and gave the stock a "neutral" rating in a research note on Friday, January 3rd. Bank of America increased their price objective on shares of RenaissanceRe from $364.00 to $391.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods increased their price objective on RenaissanceRe from $310.00 to $318.00 and gave the stock an "outperform" rating in a research note on Friday, January 10th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $284.00.

About RenaissanceRe

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.