Epoch Investment Partners Inc. Sells 4,880 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Epoch Investment Partners Inc. lowered its position in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 57.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,569 shares of the insurance provider's stock after selling 4,880 shares during the quarter. Epoch Investment Partners Inc.'s holdings in RenaissanceRe were worth $888,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. First Trust Advisors LP raised its stake in RenaissanceRe by 462.8% in the fourth quarter. First Trust Advisors LP now owns 864,252 shares of the insurance provider's stock valued at $215,035,000 after buying an additional 710,698 shares during the period. Norges Bank acquired a new stake in RenaissanceRe during the 4th quarter valued at $173,530,000. Boston Partners increased its holdings in shares of 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 purchasing an additional 446,781 shares during the last quarter. Geode Capital Management LLC raised its position in shares of 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 during the period. Finally, Impax Asset Management Group plc lifted its stake in shares of RenaissanceRe by 10.8% during the 4th quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider's stock worth $466,969,000 after buying an additional 182,530 shares during the last quarter. 99.97% of the stock is owned by institutional investors.

RenaissanceRe Price Performance

Shares of RNR stock traded up $7.08 on Friday, reaching $235.02. The company had a trading volume of 1,074,167 shares, compared to its average volume of 426,993. The stock has a market capitalization of $11.52 billion, a PE ratio of 6.71, a price-to-earnings-growth ratio of 2.09 and a beta of 0.29. 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 business's 50-day moving average is $237.66 and its 200 day moving average is $252.34. RenaissanceRe Holdings Ltd. has a one year low of $208.98 and a one year high of $300.00.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced its quarterly 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 company 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%. Equities research analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RNR. Wells Fargo & Company reduced their price objective on RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Keefe, Bruyette & Woods lowered their price objective on RenaissanceRe from $318.00 to $294.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 4th. Barclays reduced their target price on shares of RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating for the company in a research report on Friday, April 11th. 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 research note on Friday, April 11th. Finally, JMP Securities reiterated a "market perform" rating on shares of RenaissanceRe in a research report on Thursday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, RenaissanceRe presently has a consensus rating of "Hold" and a consensus price target of $283.80.

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.