Avantax Advisory Services Inc. Has $598,000 Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Avantax Advisory Services Inc. raised its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 5.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,404 shares of the insurance provider’s stock after purchasing an additional 133 shares during the quarter. Avantax Advisory Services Inc.’s holdings in RenaissanceRe were worth $598,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in shares of RenaissanceRe in the 4th quarter worth about $29,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of RenaissanceRe by 51.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock worth $30,000 after buying an additional 41 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of RenaissanceRe by 1,587.5% during the 4th quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider’s stock worth $34,000 after buying an additional 127 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of RenaissanceRe by 71.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 65 shares in the last quarter. Finally, Advisors Asset Management Inc. bought a new position in RenaissanceRe during the third quarter worth $45,000. Institutional investors own 99.97% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Morgan Stanley decreased their target price on RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. JMP Securities reaffirmed a “market perform” rating on shares of RenaissanceRe in a research report on Thursday, January 30th. Wells Fargo & Company reduced their price target on shares of RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Barclays downgraded shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $284.00 to $234.00 in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a research report on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, RenaissanceRe currently has an average rating of “Hold” and a consensus target price of $279.90.

Insider Transactions at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the company’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 sale, the executive vice president now directly owns 79,392 shares of the company’s stock, valued at $20,178,270.72. This represents a 1.24 % 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. 1.30% of the stock is owned by corporate insiders.

RenaissanceRe Trading Up 0.4 %

Shares of RNR stock opened at $236.75 on Friday. RenaissanceRe Holdings Ltd. has a 52-week low of $208.98 and a 52-week high of $300.00. The company has a 50-day simple moving average of $241.01 and a two-hundred day simple moving average of $257.08. 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 market capitalization of $11.66 billion, a price-to-earnings ratio of 6.76, a PEG ratio of 2.09 and a beta of 0.38.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 EPS for the quarter, beating analysts’ consensus estimates of $6.94 by $1.12. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. Research analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.68%. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. RenaissanceRe’s dividend payout ratio is 4.57%.

RenaissanceRe Company 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.