Dimensional Fund Advisors LP Buys 21,287 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Dimensional Fund Advisors LP lifted its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 3.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 662,150 shares of the insurance provider's stock after acquiring an additional 21,287 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.27% of RenaissanceRe worth $164,752,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Trust Advisors LP raised its stake in shares of RenaissanceRe by 462.8% during the 4th quarter. First Trust Advisors LP now owns 864,252 shares of the insurance provider's stock worth $215,035,000 after purchasing an additional 710,698 shares in the last quarter. Norges Bank bought a new position in RenaissanceRe during the fourth quarter valued at approximately $173,530,000. Boston Partners lifted its stake in RenaissanceRe by 28.5% in the fourth quarter. Boston Partners now owns 2,013,382 shares of the insurance provider's stock valued at $500,991,000 after acquiring an additional 446,781 shares during the last quarter. Geode Capital Management LLC grew its position 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 worth $284,907,000 after acquiring an additional 223,991 shares in the last quarter. Finally, Impax Asset Management Group plc grew its position in 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 acquiring an additional 182,530 shares in the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

RenaissanceRe Stock Performance

RenaissanceRe stock traded up $2.70 during mid-day trading on Tuesday, reaching $240.59. The company had a trading volume of 118,207 shares, compared to its average volume of 426,777. The company has a 50 day moving average of $237.81 and a 200-day moving average of $251.74. RenaissanceRe Holdings Ltd. has a 52 week low of $208.98 and a 52 week high of $300.00. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. The firm has a market cap of $11.79 billion, a price-to-earnings ratio of 6.86, 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 analysts' consensus estimates of ($0.32) by ($1.17). The firm had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.36 billion. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. The firm's quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the business earned $12.18 earnings per share. On average, sell-side analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.40 per share. This is a positive change from RenaissanceRe's previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Friday, March 14th. RenaissanceRe's payout ratio is 5.10%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RNR. Bank of America reduced their price objective on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a research note on Wednesday, March 26th. JPMorgan Chase & Co. upgraded RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price target for the company in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods cut their price objective on RenaissanceRe from $318.00 to $294.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 4th. Wells Fargo & Company decreased 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. Finally, Barclays dropped 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. Two investment 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, RenaissanceRe currently has a consensus rating of "Hold" and an average price target of $283.80.

About RenaissanceRe

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.