Cwm LLC Increases Stock Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Cwm LLC increased its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 8.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 610 shares of the insurance provider’s stock after acquiring an additional 49 shares during the period. Cwm LLC’s holdings in RenaissanceRe were worth $143,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC bought a new stake in shares of RenaissanceRe during the 4th quarter valued at about $37,000. Bruce G. Allen Investments LLC bought a new position in shares of RenaissanceRe in the 4th quarter worth $38,000. Daiwa Securities Group Inc. purchased a new stake in shares of RenaissanceRe during the 4th quarter valued at $39,000. VisionPoint Advisory Group LLC bought a new stake in shares of RenaissanceRe during the 3rd quarter worth $57,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new position in RenaissanceRe in the fourth quarter worth $60,000. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

RenaissanceRe Stock Down 0.7 %

Shares of RenaissanceRe stock opened at $224.27 on Monday. The company’s 50 day moving average price is $223.88 and its 200-day moving average price is $219.65. RenaissanceRe Holdings Ltd. has a 52-week low of $174.22 and a 52-week high of $239.42. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.41 and a current ratio of 1.41. The stock has a market capitalization of $11.86 billion, a price-to-earnings ratio of 4.96, a P/E/G ratio of 1.49 and a beta of 0.38.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings data on Tuesday, April 30th. The insurance provider reported $12.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.86 by $2.32. The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.05 billion. RenaissanceRe had a net margin of 24.79% and a return on equity of 27.09%. The company’s revenue for the quarter was up 41.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $8.16 earnings per share. Equities research analysts forecast that RenaissanceRe Holdings Ltd. will post 37.22 EPS for the current year.

RenaissanceRe Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Friday, June 14th. RenaissanceRe’s dividend payout ratio (DPR) is currently 3.45%.

Analyst Ratings Changes

Several equities research analysts have issued reports on RNR shares. JPMorgan Chase & Co. lifted their price target on RenaissanceRe from $237.00 to $245.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Evercore ISI increased their price target on shares of RenaissanceRe from $216.00 to $218.00 and gave the company an “underperform” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $249.00.

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.