14,600 Shares in RenaissanceRe Holdings Ltd. $RNR Acquired by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. acquired a new position in RenaissanceRe Holdings Ltd. (NYSE:RNR) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 14,600 shares of the insurance provider’s stock, valued at approximately $4,105,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. SBI Securities Co. Ltd. lifted 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 worth $41,000 after acquiring an additional 37 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in shares of RenaissanceRe by 20.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 230 shares of the insurance provider’s stock worth $65,000 after acquiring an additional 39 shares during the period. AMG National Trust Bank lifted its stake in shares of RenaissanceRe by 0.7% in the third quarter. AMG National Trust Bank now owns 5,787 shares of the insurance provider’s stock worth $1,469,000 after acquiring an additional 40 shares during the period. Signaturefd LLC lifted its stake in shares of RenaissanceRe by 8.9% in the fourth quarter. Signaturefd LLC now owns 504 shares of the insurance provider’s stock worth $142,000 after acquiring an additional 41 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of RenaissanceRe by 2.6% in the third quarter. Brown Brothers Harriman & Co. now owns 2,006 shares of the insurance provider’s stock worth $509,000 after acquiring an additional 51 shares during the period. 99.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on RNR. Keefe, Bruyette & Woods lifted their price objective on RenaissanceRe from $323.00 to $327.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 7th. Citigroup lifted their price objective on RenaissanceRe from $333.00 to $335.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Evercore set a $309.00 price objective on RenaissanceRe in a research note on Thursday, April 9th. Morgan Stanley lowered RenaissanceRe from an “overweight” rating to an “equal weight” rating and set a $310.00 price objective on the stock. in a research note on Thursday, February 26th. Finally, Bank of America cut their price objective on RenaissanceRe to $426.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Four investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $322.93.

RenaissanceRe Trading Up 0.0%

Shares of RNR stock opened at $280.46 on Monday. The company has a market cap of $11.96 billion, a P/E ratio of 4.68, a PEG ratio of 0.77 and a beta of 0.19. RenaissanceRe Holdings Ltd. has a fifty-two week low of $231.17 and a fifty-two week high of $318.20. The stock has a 50 day simple moving average of $300.49 and a two-hundred day simple moving average of $287.88. 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 (NYSE:RNR) last released its quarterly earnings data on Tuesday, March 31st. The insurance provider reported $13.75 EPS for the quarter. The firm had revenue of $2.19 billion during the quarter. RenaissanceRe had a return on equity of 24.01% and a net margin of 24.25%. Research analysts forecast that RenaissanceRe Holdings Ltd. will post 40.02 earnings per share for the current year.

RenaissanceRe Announces Dividend

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

RenaissanceRe Company 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.