Asahi Life Asset Management CO. LTD. bought a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,980 shares of the insurance provider’s stock, valued at approximately $428,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Penserra Capital Management LLC acquired a new position in shares of RenaissanceRe in the fourth quarter worth approximately $30,000. JOYN Advisors Inc. lifted its stake in shares of RenaissanceRe by 63.9% in the fourth quarter. JOYN Advisors Inc. now owns 241 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 94 shares during the period. First Mercantile Trust Co. lifted its stake in shares of RenaissanceRe by 52.6% in the fourth quarter. First Mercantile Trust Co. now owns 290 shares of the insurance provider’s stock worth $39,000 after acquiring an additional 100 shares during the period. Rehmann Capital Advisory Group lifted its stake in shares of RenaissanceRe by 65.1% in the fourth quarter. Rehmann Capital Advisory Group now owns 322 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 127 shares during the period. Finally, Parallel Advisors LLC lifted its stake in shares of RenaissanceRe by 862.1% in the first quarter. Parallel Advisors LLC now owns 558 shares of the insurance provider’s stock worth $80,000 after acquiring an additional 500 shares during the period. Hedge funds and other institutional investors own 94.65% of the company’s stock.

A number of equities analysts recently commented on RNR shares. Wells Fargo & Co reaffirmed a “hold” rating and issued a $125.00 price objective on shares of RenaissanceRe in a research note on Tuesday, January 29th. TheStreet raised RenaissanceRe from a “c+” rating to a “b” rating in a research note on Thursday, February 7th. Zacks Investment Research raised RenaissanceRe from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research note on Monday, April 1st. Barclays lifted their price objective on RenaissanceRe from $125.00 to $130.00 and gave the stock an “underweight” rating in a research note on Monday, April 1st. Finally, ValuEngine lowered RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $149.09.

In other RenaissanceRe news, SVP Sean G. Brosnan sold 1,250 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $145.97, for a total value of $182,462.50. Following the transaction, the senior vice president now directly owns 10,960 shares of the company’s stock, valued at $1,599,831.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Ross Curtis sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $152.00, for a total value of $1,140,000.00. Following the completion of the transaction, the senior vice president now directly owns 105,503 shares in the company, valued at $16,036,456. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,250 shares of company stock worth $3,118,463. Insiders own 1.60% of the company’s stock.

Shares of RNR opened at $170.44 on Friday. RenaissanceRe Holdings Ltd. has a 52-week low of $117.35 and a 52-week high of $170.55. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $7.25 billion, a price-to-earnings ratio of 18.59, a price-to-earnings-growth ratio of 1.40 and a beta of 0.52.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Tuesday, May 7th. The insurance provider reported $3.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.20 by $0.40. RenaissanceRe had a return on equity of 9.25% and a net margin of 18.18%. The firm had revenue of $929.00 million for the quarter, compared to analyst estimates of $738.70 million. During the same period in the previous year, the firm earned $1.42 earnings per share. The company’s revenue was up 40.1% compared to the same quarter last year. Equities analysts predict that RenaissanceRe Holdings Ltd. will post 12.32 earnings per share for the current year.

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RenaissanceRe Profile

RenaissanceRe Holdings Ltd. 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 retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including earthquakes, hurricanes, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising 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, and binding facilities and regional U.S.

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Institutional Ownership by Quarter for RenaissanceRe (NYSE:RNR)

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