Bayesian Capital Management LP Purchases Shares of 3,970 RenaissanceRe Holdings Ltd. (NYSE:RNR)

Bayesian Capital Management LP acquired a new position in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,970 shares of the insurance provider's stock, valued at approximately $988,000.

Other institutional investors have also recently made changes to their positions in the company. Barclays PLC grew its holdings in RenaissanceRe by 57.1% during the 3rd quarter. Barclays PLC now owns 22,923 shares of the insurance provider's stock valued at $6,244,000 after buying an additional 8,333 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in RenaissanceRe during the third quarter valued at $405,000. GAMMA Investing LLC increased its holdings in RenaissanceRe by 22.9% in the 4th quarter. GAMMA Investing LLC now owns 1,179 shares of the insurance provider's stock valued at $293,000 after acquiring an additional 220 shares during the last quarter. Everence Capital Management Inc. bought a new position in shares of RenaissanceRe during the 4th quarter valued at about $304,000. Finally, Nordea Investment Management AB grew its position in shares of RenaissanceRe by 9.4% during the fourth quarter. Nordea Investment Management AB now owns 14,422 shares of the insurance provider's stock valued at $3,604,000 after purchasing an additional 1,240 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company's stock.

RenaissanceRe Stock Up 1.4 %

Shares of NYSE:RNR opened at $246.54 on Tuesday. The firm has a market capitalization of $11.99 billion, a PE ratio of 7.04, a price-to-earnings-growth ratio of 2.09 and a beta of 0.34. The business has a 50 day simple moving average of $239.06 and a two-hundred day simple moving average of $250.45. RenaissanceRe Holdings Ltd. has a 1 year low of $208.98 and a 1 year high of $300.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42.

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

RenaissanceRe Increases Dividend

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

Analysts Set New Price Targets

RNR has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods boosted their target price on RenaissanceRe from $279.00 to $282.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. Wells Fargo & Company lowered their target price on RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Barclays reduced their price target on shares of RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating on the stock in a research report on Friday, April 11th. Morgan Stanley upgraded shares of RenaissanceRe from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $235.00 to $275.00 in a research report on Friday, April 25th. Finally, Jefferies Financial Group reduced their target price on shares of RenaissanceRe from $266.00 to $265.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $282.60.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.