CANADA LIFE ASSURANCE Co Sells 3,534 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

CANADA LIFE ASSURANCE Co reduced its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 7.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,047 shares of the insurance provider's stock after selling 3,534 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.08% of RenaissanceRe worth $10,717,000 at the end of the most recent reporting period.

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

RenaissanceRe Trading Up 3.1 %

NYSE RNR traded up $7.08 during trading hours on Friday, hitting $235.02. The company's stock had a trading volume of 1,074,167 shares, compared to its average volume of 427,998. The stock has a fifty day moving average of $237.66 and a 200 day moving average of $252.00. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. RenaissanceRe Holdings Ltd. has a twelve month low of $208.98 and a twelve month high of $300.00. The firm has a market capitalization of $11.52 billion, a P/E ratio of 6.71, a PEG ratio of 2.09 and a beta of 0.29.

RenaissanceRe (NYSE:RNR - Get Free Report) last released 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). The company had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.36 billion. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. Equities research analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Morgan Stanley upgraded 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 note on Friday. JMP Securities reaffirmed a "market perform" rating on shares of RenaissanceRe in a report on Thursday. Bank of America cut their price target on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a report on Wednesday, March 26th. Jefferies Financial Group dropped their price objective on shares of RenaissanceRe from $266.00 to $265.00 and set a "hold" rating for the company in a report on Friday, April 11th. Finally, 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 report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $283.80.

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.