Integrated Wealth Concepts LLC Boosts Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Integrated Wealth Concepts LLC raised its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 2.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,200 shares of the insurance provider’s stock after purchasing an additional 302 shares during the period. Integrated Wealth Concepts LLC’s holdings in RenaissanceRe were worth $3,323,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Impax Asset Management Group plc boosted its stake in RenaissanceRe by 32.4% during the third quarter. Impax Asset Management Group plc now owns 1,697,636 shares of the insurance provider’s stock valued at $461,679,000 after buying an additional 415,366 shares during the period. Cooke & Bieler LP boosted its position in shares of RenaissanceRe by 9.2% during the 2nd quarter. Cooke & Bieler LP now owns 1,027,601 shares of the insurance provider’s stock valued at $229,679,000 after acquiring an additional 86,562 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of RenaissanceRe by 21.3% during the second quarter. Dimensional Fund Advisors LP now owns 624,469 shares of the insurance provider’s stock worth $139,579,000 after purchasing an additional 109,851 shares in the last quarter. Great Lakes Advisors LLC increased its position in shares of RenaissanceRe by 3.1% in the second quarter. Great Lakes Advisors LLC now owns 254,965 shares of the insurance provider’s stock worth $56,987,000 after purchasing an additional 7,718 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. raised its stake in RenaissanceRe by 12.8% in the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 227,773 shares of the insurance provider’s stock valued at $50,910,000 after purchasing an additional 25,760 shares in the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on RNR. StockNews.com cut shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company upped their target price on shares of RenaissanceRe from $280.00 to $314.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Jefferies Financial Group increased their target price on RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. lifted their price target on RenaissanceRe from $274.00 to $280.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Citigroup increased their price objective on RenaissanceRe from $262.00 to $298.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, RenaissanceRe presently has an average rating of “Hold” and an average target price of $293.00.

Insider Buying and Selling at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $279.00, for a total value of $279,000.00. Following the sale, the executive vice president now directly owns 82,044 shares of the company’s stock, valued at $22,890,276. This trade represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.30% of the company’s stock.

RenaissanceRe Trading Up 0.9 %

Shares of RNR stock opened at $287.06 on Friday. The business has a 50-day moving average of $272.25 and a 200 day moving average of $248.15. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.43 and a quick ratio of 1.43. RenaissanceRe Holdings Ltd. has a 1-year low of $188.24 and a 1-year high of $300.00. The stock has a market capitalization of $14.91 billion, a PE ratio of 4.14, a P/E/G ratio of 1.40 and a beta of 0.41.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share for the quarter, beating analysts’ consensus estimates of $7.89 by $2.34. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the firm posted $8.33 earnings per share. The business’s quarterly revenue was up 52.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that RenaissanceRe Holdings Ltd. will post 41.94 earnings per share for the current year.

RenaissanceRe Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Friday, December 13th. RenaissanceRe’s dividend payout ratio (DPR) is presently 2.25%.

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.