AQR Capital Management LLC Sells 68,142 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

AQR Capital Management LLC lowered its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 17.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RNR. MassMutual Private Wealth & Trust FSB grew its stake in shares of RenaissanceRe by 51.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider's stock worth $30,000 after purchasing an additional 41 shares during the last quarter. UMB Bank n.a. lifted its stake in RenaissanceRe by 40.0% during the fourth quarter. UMB Bank n.a. now owns 175 shares of the insurance provider's stock valued at $44,000 after purchasing an additional 50 shares during the last quarter. Lifestyle Asset Management Inc. boosted its holdings in RenaissanceRe by 1.1% during the fourth quarter. Lifestyle Asset Management Inc. now owns 4,645 shares of the insurance provider's stock worth $1,156,000 after buying an additional 52 shares in the last quarter. AMG National Trust Bank grew its position in RenaissanceRe by 1.3% in the fourth quarter. AMG National Trust Bank now owns 4,688 shares of the insurance provider's stock worth $1,166,000 after buying an additional 59 shares during the last quarter. Finally, Principal Securities Inc. increased its holdings in shares of RenaissanceRe by 11.9% in the fourth quarter. Principal Securities Inc. now owns 565 shares of the insurance provider's stock valued at $141,000 after buying an additional 60 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Morgan Stanley upgraded RenaissanceRe from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $235.00 to $275.00 in a report on Friday, April 25th. Keefe, Bruyette & Woods lifted their price target on RenaissanceRe from $279.00 to $282.00 and gave the stock an "outperform" rating in a research note on Tuesday. Jefferies Financial Group reduced their price objective on shares of RenaissanceRe from $266.00 to $265.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Wells Fargo & Company dropped their target price on shares of RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Finally, Bank of America cut their price target on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating on the stock in a report on Wednesday, March 26th. Two 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's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $282.60.

RenaissanceRe Stock Up 2.5 %

Shares of RNR stock traded up $5.85 during trading on Friday, hitting $243.05. 429,140 shares of the company were exchanged, compared to its average volume of 424,940. The firm has a market capitalization of $11.91 billion, a price-to-earnings ratio of 6.94, a P/E/G ratio of 2.09 and a beta of 0.29. 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 business's 50-day simple moving average is $238.75 and its 200 day simple moving average is $250.93. RenaissanceRe Holdings Ltd. has a twelve month low of $208.98 and a twelve month high of $300.00.

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

RenaissanceRe Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.40 dividend. This is a positive change from RenaissanceRe's previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 0.66%. The ex-dividend date was Friday, March 14th. RenaissanceRe's dividend payout ratio is presently 5.10%.

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.