Capital World Investors Grows Stock Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Capital World Investors grew its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 8.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,882,835 shares of the insurance provider's stock after purchasing an additional 233,708 shares during the period. Capital World Investors owned approximately 5.55% of RenaissanceRe worth $717,278,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in RNR. Boston Partners increased its stake in RenaissanceRe by 28.5% in the 4th quarter. Boston Partners now owns 2,013,382 shares of the insurance provider's stock worth $500,991,000 after acquiring an additional 446,781 shares during the last quarter. Impax Asset Management Group plc increased its position in shares of RenaissanceRe by 10.8% in the fourth quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider's stock worth $466,969,000 after purchasing an additional 182,530 shares during the last quarter. Geode Capital Management LLC raised its stake in RenaissanceRe by 24.3% in the fourth quarter. Geode Capital Management LLC now owns 1,144,805 shares of the insurance provider's stock valued at $284,907,000 after purchasing an additional 223,991 shares in the last quarter. FIL Ltd lifted its position in RenaissanceRe by 5.1% during the fourth quarter. FIL Ltd now owns 1,033,691 shares of the insurance provider's stock valued at $257,193,000 after purchasing an additional 49,804 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in RenaissanceRe by 462.8% in the 4th quarter. First Trust Advisors LP now owns 864,252 shares of the insurance provider's stock worth $215,035,000 after buying an additional 710,698 shares in the last quarter. Institutional investors own 99.97% of the company's stock.

Analyst Ratings Changes

RNR has been the topic of several research reports. JMP Securities restated a "market perform" rating on shares of RenaissanceRe in a research report on Thursday. Barclays dropped their price target on RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating for the company in a research note on Friday, April 11th. Morgan Stanley upgraded 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. Jefferies Financial Group dropped their target price on RenaissanceRe from $266.00 to $265.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of RenaissanceRe from $318.00 to $294.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $283.80.

RenaissanceRe Trading Up 3.6 %

Shares of NYSE RNR traded up $8.13 during trading hours on Friday, hitting $236.07. The company's stock had a trading volume of 465,217 shares, compared to its average volume of 423,829. The business has a 50-day simple moving average of $237.61 and a 200-day simple moving average of $252.52. The stock has a market cap of $11.57 billion, a price-to-earnings ratio of 6.75, 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. RenaissanceRe Holdings Ltd. has a 12 month low of $208.98 and a 12 month 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 business had revenue of $3.44 billion for the quarter, compared to analysts' expectations of $3.36 billion. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. On average, analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

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