Lansforsakringar Fondforvaltning AB publ Invests $316,000 in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Lansforsakringar Fondforvaltning AB publ purchased a new position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,270 shares of the insurance provider's stock, valued at approximately $316,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in RNR. Aster Capital Management DIFC Ltd bought a new stake in shares of RenaissanceRe during the fourth quarter worth about $27,000. SBI Securities Co. Ltd. bought a new stake in shares of RenaissanceRe during the fourth quarter worth about $29,000. Jones Financial Companies Lllp grew its holdings in shares of RenaissanceRe by 1,587.5% during the fourth quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock worth $34,000 after purchasing an additional 127 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of RenaissanceRe by 71.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock worth $39,000 after purchasing an additional 65 shares during the last quarter. Finally, Huntington National Bank grew its holdings in shares of RenaissanceRe by 179.3% during the fourth quarter. Huntington National Bank now owns 257 shares of the insurance provider's stock worth $64,000 after purchasing an additional 165 shares during the last quarter. 99.97% of the stock is currently owned by institutional investors.

RenaissanceRe Trading Down 1.2%

RNR traded down $2.97 during trading on Tuesday, hitting $250.98. The company's stock had a trading volume of 343,160 shares, compared to its average volume of 434,067. RenaissanceRe Holdings Ltd. has a twelve month low of $208.98 and a twelve month 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 stock's fifty day moving average price is $241.24 and its 200-day moving average price is $247.35. The firm has a market capitalization of $12.21 billion, a P/E ratio of 7.17, a PEG ratio of 2.09 and a beta of 0.34.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued 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). RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. The business had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.36 billion. During the same period last year, the firm posted $12.18 earnings per share. RenaissanceRe's quarterly revenue was up 7.6% compared to the same quarter last year. Analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Friday, June 13th. RenaissanceRe's dividend payout ratio (DPR) is presently 5.10%.

Insider Buying and Selling at RenaissanceRe

In other news, CAO James Christopher Fraser sold 332 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $249.54, for a total transaction of $82,847.28. Following the transaction, the chief accounting officer now directly owns 27,154 shares of the company's stock, valued at $6,776,009.16. This represents a 1.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on RNR shares. Barclays cut their price objective on RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating on the stock in a research note on Friday, April 11th. JMP Securities reaffirmed a "market perform" rating on shares of RenaissanceRe in a research note on Thursday, April 24th. Wells Fargo & Company cut their price objective on RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Jefferies Financial Group cut their price objective on RenaissanceRe from $266.00 to $265.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Finally, Bank of America cut their price objective on RenaissanceRe from $437.00 to $426.00 and set a "buy" rating on the stock in a research note on Wednesday, March 26th. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $283.60.

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.