OneDigital Investment Advisors LLC Makes New Investment in RenaissanceRe Holdings Ltd. (NYSE:RNR)

OneDigital Investment Advisors LLC purchased a new position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 6,303 shares of the insurance provider's stock, valued at approximately $1,568,000.

A number of other hedge funds also recently bought and sold shares of RNR. MassMutual Private Wealth & Trust FSB boosted its stake 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 worth $30,000 after acquiring an additional 41 shares during the last quarter. UMB Bank n.a. grew its stake in RenaissanceRe by 40.0% during the 4th quarter. UMB Bank n.a. now owns 175 shares of the insurance provider's stock valued at $44,000 after acquiring an additional 50 shares in the last quarter. Lifestyle Asset Management Inc. boosted its holdings in shares of RenaissanceRe by 1.1% during the 4th quarter. Lifestyle Asset Management Inc. now owns 4,645 shares of the insurance provider's stock worth $1,156,000 after purchasing an additional 52 shares during the last quarter. AMG National Trust Bank increased its holdings in shares of RenaissanceRe by 1.3% in the fourth quarter. AMG National Trust Bank now owns 4,688 shares of the insurance provider's stock valued at $1,166,000 after purchasing an additional 59 shares during the last quarter. Finally, Principal Securities Inc. increased its position in RenaissanceRe by 11.9% during the fourth quarter. Principal Securities Inc. now owns 565 shares of the insurance provider's stock worth $141,000 after purchasing an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 99.97% of the company's stock.

RenaissanceRe Stock Up 1.2 %

NYSE RNR traded up $2.85 during trading on Monday, reaching $238.20. 421,295 shares of the company's stock were exchanged, compared to its average volume of 427,971. RenaissanceRe Holdings Ltd. has a 1 year low of $208.98 and a 1 year high of $300.00. The stock has a market cap of $11.67 billion, a P/E ratio of 6.80, a price-to-earnings-growth ratio of 2.09 and a beta of 0.29. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42. The company has a 50 day moving average price of $237.66 and a two-hundred day moving average price of $252.00.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.32) by ($1.17). RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. The business had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.36 billion. During the same period last year, the company earned $12.18 earnings per share. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. On average, equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The business also recently declared 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 is a positive change from RenaissanceRe's previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Friday, March 14th. RenaissanceRe's dividend payout ratio (DPR) is currently 5.10%.

Analyst Ratings Changes

A number of analysts have issued reports on RNR shares. Bank of America cut their target price on RenaissanceRe from $437.00 to $426.00 and set a "buy" rating on the stock in a research report on Wednesday, March 26th. Morgan Stanley raised shares of RenaissanceRe from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $235.00 to $275.00 in a research report on Friday. Wells Fargo & Company dropped their price objective on shares of RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Barclays reduced their target price on shares of RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating on the stock in a report on Friday, April 11th. Finally, Jefferies Financial Group cut their price objective on RenaissanceRe from $266.00 to $265.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $283.80.

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.