Bryce Point Capital LLC Acquires Shares of 5,884 RenaissanceRe Holdings Ltd. (NYSE:RNR)

Bryce Point Capital LLC bought a new position in RenaissanceRe Holdings Ltd. (NYSE:RNR) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,884 shares of the insurance provider’s stock, valued at approximately $1,464,000.

Other large investors have also made changes to their positions in the company. Impax Asset Management Group plc grew its position in RenaissanceRe by 10.8% during the 4th quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider’s stock worth $466,969,000 after purchasing an additional 182,530 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in RenaissanceRe during the third quarter valued at $3,684,000. Geode Capital Management LLC lifted its stake in RenaissanceRe by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider’s stock worth $250,892,000 after acquiring an additional 25,773 shares in the last quarter. HighTower Advisors LLC grew its stake in RenaissanceRe by 47.8% during the 3rd quarter. HighTower Advisors LLC now owns 12,224 shares of the insurance provider’s stock valued at $3,342,000 after acquiring an additional 3,954 shares in the last quarter. Finally, World Investment Advisors LLC acquired a new position in shares of RenaissanceRe in the 3rd quarter valued at about $16,176,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

Analyst Upgrades and Downgrades

RNR has been the subject of several research reports. Keefe, Bruyette & Woods decreased their price target on shares of 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 price target on shares of RenaissanceRe from $437.00 to $426.00 and set a “buy” rating on the stock in a report on Wednesday, March 26th. Barclays lowered RenaissanceRe from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $284.00 to $234.00 in a report on Monday, January 6th. Wells Fargo & Company lowered their target price on RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $282.00 price target (down from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, RenaissanceRe presently has a consensus rating of “Hold” and a consensus price target of $283.40.

Insider Transactions at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the business’s 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 transaction, the executive vice president now owns 79,392 shares in the company, valued at approximately $20,178,270.72. The trade was a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

RenaissanceRe Stock Performance

NYSE:RNR opened at $245.09 on Wednesday. The firm has a market capitalization of $12.01 billion, a PE ratio of 7.00, a PEG ratio of 2.09 and a beta of 0.38. RenaissanceRe Holdings Ltd. has a 1 year low of $208.98 and a 1 year high of $300.00. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19. The firm’s fifty day simple moving average is $239.17 and its 200 day simple moving average is $256.34.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results 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%. On average, sell-side analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.65%. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, March 14th. RenaissanceRe’s dividend payout ratio is currently 4.57%.

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.