New Age Alpha Advisors LLC Cuts Stock Position in RenaissanceRe Holdings Ltd. $RNR

New Age Alpha Advisors LLC lowered its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 74.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,256 shares of the insurance provider’s stock after selling 15,544 shares during the period. New Age Alpha Advisors LLC’s holdings in RenaissanceRe were worth $1,478,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Quarry LP raised its stake in shares of RenaissanceRe by 65.0% in the third quarter. Quarry LP now owns 132 shares of the insurance provider’s stock valued at $34,000 after buying an additional 52 shares during the period. CIBC Private Wealth Group LLC raised its stake in shares of RenaissanceRe by 235.0% in the third quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider’s stock valued at $34,000 after buying an additional 94 shares during the period. Kingdom Financial Group LLC. bought a new stake in shares of RenaissanceRe in the fourth quarter valued at $36,000. SBI Securities Co. Ltd. raised its stake in shares of RenaissanceRe by 33.6% in the fourth quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock valued at $41,000 after buying an additional 37 shares during the period. Finally, Allworth Financial LP raised its stake in shares of RenaissanceRe by 157.0% in the third quarter. Allworth Financial LP now owns 203 shares of the insurance provider’s stock valued at $52,000 after buying an additional 124 shares during the period. Hedge funds and other institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Performance

NYSE:RNR opened at $289.64 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.37 and a current ratio of 1.37. RenaissanceRe Holdings Ltd. has a 52-week low of $231.17 and a 52-week high of $318.20. The firm has a market cap of $12.35 billion, a price-to-earnings ratio of 4.83, a PEG ratio of 0.77 and a beta of 0.22. The business’s fifty day moving average is $300.99 and its 200 day moving average is $287.67.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings data on Tuesday, March 31st. The insurance provider reported $13.75 earnings per share (EPS) for the quarter. RenaissanceRe had a return on equity of 24.01% and a net margin of 24.25%.The company had revenue of $2.19 billion for the quarter. Research analysts predict that RenaissanceRe Holdings Ltd. will post 40.02 EPS for the current year.

RenaissanceRe Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, June 15th. RenaissanceRe’s payout ratio is presently 2.73%.

Analysts Set New Price Targets

RNR has been the topic of several research reports. Morgan Stanley lowered RenaissanceRe from an “overweight” rating to an “equal weight” rating and set a $310.00 target price on the stock. in a research note on Thursday, February 26th. Mizuho set a $325.00 target price on RenaissanceRe in a research note on Monday, May 4th. TD Cowen boosted their target price on RenaissanceRe from $280.00 to $290.00 and gave the company a “hold” rating in a research note on Thursday, February 26th. Evercore set a $309.00 target price on RenaissanceRe in a research note on Thursday, April 9th. Finally, Wall Street Zen lowered RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Four equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $322.93.

RenaissanceRe Profile

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.