BNP Paribas Financial Markets Has $3.10 Million Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

BNP Paribas Financial Markets raised its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 10.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,447 shares of the insurance provider's stock after buying an additional 1,186 shares during the period. BNP Paribas Financial Markets' holdings in RenaissanceRe were worth $3,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. Barclays PLC lifted its position in shares of 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 buying an additional 8,333 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in shares of RenaissanceRe by 16.2% during the fourth quarter. Park Avenue Securities LLC now owns 3,611 shares of the insurance provider's stock worth $898,000 after purchasing an additional 504 shares during the period. Carolina Wealth Advisors LLC increased its stake in shares of RenaissanceRe by 2.8% in the fourth quarter. Carolina Wealth Advisors LLC now owns 2,797 shares of the insurance provider's stock worth $696,000 after acquiring an additional 75 shares during the period. HB Wealth Management LLC raised its stake in shares of RenaissanceRe by 14.5% during the 4th quarter. HB Wealth Management LLC now owns 4,811 shares of the insurance provider's stock valued at $1,197,000 after buying an additional 608 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in RenaissanceRe by 40.0% in the fourth quarter. UMB Bank n.a. now owns 175 shares of the insurance provider's stock valued at $44,000 after acquiring an additional 50 shares during the period. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Barclays dropped their target price on RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating on the stock in a research report on Friday, April 11th. Wells Fargo & Company lowered their price target on shares of RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. JPMorgan Chase & Co. upgraded shares of RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price objective for the company in a research report on Tuesday, April 8th. JMP Securities reiterated a "market perform" rating on shares of RenaissanceRe in a research report on Thursday, April 24th. Finally, Bank of America reduced their price objective on RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a research note on Wednesday, March 26th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $283.60.

RenaissanceRe Price Performance

RNR stock traded down $0.59 during trading on Wednesday, reaching $245.82. 26,843 shares of the company were exchanged, compared to its average volume of 428,040. The company has a market cap of $11.96 billion, a P/E ratio of 7.03, a PEG ratio of 2.09 and a beta of 0.34. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42. RenaissanceRe Holdings Ltd. has a 52-week low of $208.98 and a 52-week high of $300.00. The stock's 50 day moving average price is $240.51 and its 200 day moving average price is $248.79.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share 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 firm had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.36 billion. During the same period in the previous year, the firm posted $12.18 EPS. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Friday, June 13th. RenaissanceRe's payout ratio is currently 5.10%.

Insider Buying and Selling at RenaissanceRe

In related news, CAO James Christopher Fraser sold 332 shares of RenaissanceRe stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $249.54, for a total value of $82,847.28. Following the transaction, the chief accounting officer now directly owns 27,154 shares in the company, valued at $6,776,009.16. The trade was a 1.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.30% of the stock is owned by insiders.

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.