Integrated Wealth Concepts LLC Has $3.64 Million Stock Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Integrated Wealth Concepts LLC lifted its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 19.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 14,630 shares of the insurance provider’s stock after purchasing an additional 2,430 shares during the period. Integrated Wealth Concepts LLC’s holdings in RenaissanceRe were worth $3,640,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Impax Asset Management Group plc boosted its holdings in RenaissanceRe by 10.8% during the fourth quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider’s stock valued at $466,969,000 after acquiring an additional 182,530 shares during the period. World Investment Advisors LLC bought a new stake in RenaissanceRe during the 3rd quarter valued at approximately $16,176,000. Trexquant Investment LP acquired a new stake in RenaissanceRe in the 4th quarter valued at approximately $561,000. Barclays PLC increased its position in RenaissanceRe by 57.1% in the 3rd quarter. Barclays PLC now owns 22,923 shares of the insurance provider’s stock worth $6,244,000 after buying an additional 8,333 shares during the period. Finally, Franklin Resources Inc. acquired a new position in shares of RenaissanceRe during the fourth quarter worth approximately $1,086,000. 99.97% of the stock is owned by institutional investors.

RenaissanceRe Trading Up 3.1 %

Shares of RNR stock opened at $235.02 on Friday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $11.52 billion, a P/E ratio of 6.71, a P/E/G ratio of 2.09 and a beta of 0.29. RenaissanceRe Holdings Ltd. has a 12-month low of $208.98 and a 12-month high of $300.00. The firm has a 50-day moving average price of $237.66 and a 200 day moving average price of $252.19.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($1.17). RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. The business had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.36 billion. Research analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.68%. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, March 14th. RenaissanceRe’s payout ratio is currently 5.10%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Barclays lowered their price objective on shares of RenaissanceRe from $234.00 to $231.00 and set an “underweight” rating on the stock in a research note on Friday, April 11th. Morgan Stanley raised shares of RenaissanceRe from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $235.00 to $275.00 in a research report on Friday. JPMorgan Chase & Co. upgraded RenaissanceRe from a “neutral” rating to an “overweight” rating and set a $284.00 price target on the stock in a research note on Tuesday, April 8th. JMP Securities reiterated a “market perform” rating on shares of RenaissanceRe in a research report on Thursday. Finally, Keefe, Bruyette & Woods lowered their price objective on RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $283.80.

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.