RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC reduced its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 17.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 328,090 shares of the insurance provider's stock after selling 68,142 shares during the period. AQR Capital Management LLC owned about 0.63% of RenaissanceRe worth $81,632,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Barclays PLC lifted its holdings in RenaissanceRe by 57.1% during the third quarter. Barclays PLC now owns 22,923 shares of the insurance provider's stock valued at $6,244,000 after purchasing an additional 8,333 shares during the last quarter. World Investment Advisors LLC bought a new position in shares of RenaissanceRe in the third quarter worth approximately $16,176,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of RenaissanceRe during the 3rd quarter valued at $405,000. Tidal Investments LLC boosted its holdings in shares of RenaissanceRe by 2.6% in the 3rd quarter. Tidal Investments LLC now owns 9,236 shares of the insurance provider's stock worth $2,516,000 after purchasing an additional 232 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in RenaissanceRe by 22.9% in the fourth quarter. GAMMA Investing LLC now owns 1,179 shares of the insurance provider's stock worth $293,000 after buying an additional 220 shares in the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RNR has been the subject of several recent analyst reports. Bank of America lowered their price objective on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a research note on Wednesday, March 26th. Barclays lowered their price objective on shares of RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating for the company in a report on Friday, April 11th. JMP Securities reiterated a "market perform" rating on shares of RenaissanceRe in a report on Thursday, April 24th. Jefferies Financial Group lowered their target price on RenaissanceRe from $266.00 to $265.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Finally, Morgan Stanley upgraded RenaissanceRe from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $235.00 to $275.00 in a report on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $282.60.

RenaissanceRe Price Performance

Shares of NYSE RNR traded up $0.56 during mid-day trading on Tuesday, reaching $247.39. The company's stock had a trading volume of 61,346 shares, compared to its average volume of 423,061. The stock has a 50-day moving average of $239.06 and a two-hundred day moving average of $250.45. 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 stock has a market capitalization of $12.04 billion, a P/E ratio of 7.07, a P/E/G ratio of 2.09 and a beta of 0.34. RenaissanceRe Holdings Ltd. has a 1-year low of $208.98 and a 1-year high of $300.00.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($1.17). The firm had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.36 billion. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. RenaissanceRe's revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $12.18 EPS. On average, equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.40 dividend. The ex-dividend date was Friday, March 14th. This is a boost from RenaissanceRe's previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a yield of 0.65%. RenaissanceRe's dividend payout ratio (DPR) is currently 5.10%.

RenaissanceRe 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.