2,171 Shares in RenaissanceRe Holdings Ltd. $RNR Purchased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments Co. Ltd. has acquired 2,171 shares of RenaissanceRe Holdings Ltd. (NYSE:RNR), valued at approximately $527,000, during the second quarter.
• RenaissanceRe recently reported quarterly earnings of $12.29 per share, exceeding analysts' expectations, although revenue decreased by 2.4% year-over-year.
• The company declared a quarterly dividend of $0.40 per share, representing a dividend yield of 0.6%, with a low dividend payout ratio of 4.09%.

Mirae Asset Global Investments Co. Ltd. purchased a new position in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,171 shares of the insurance provider's stock, valued at approximately $527,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its position in shares of RenaissanceRe by 37.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,496,035 shares of the insurance provider's stock valued at $599,049,000 after acquiring an additional 676,125 shares in the last quarter. Boston Partners lifted its position in shares of RenaissanceRe by 4.6% in the 1st quarter. Boston Partners now owns 2,106,207 shares of the insurance provider's stock valued at $505,509,000 after acquiring an additional 92,825 shares in the last quarter. Cooke & Bieler LP lifted its position in shares of RenaissanceRe by 18.0% in the 1st quarter. Cooke & Bieler LP now owns 1,247,742 shares of the insurance provider's stock valued at $299,458,000 after acquiring an additional 190,139 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of RenaissanceRe by 15.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 763,210 shares of the insurance provider's stock valued at $183,175,000 after acquiring an additional 101,060 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its position in shares of RenaissanceRe by 15.2% in the 1st quarter. Lord Abbett & CO. LLC now owns 466,823 shares of the insurance provider's stock valued at $112,038,000 after acquiring an additional 61,465 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company's stock.

RenaissanceRe Stock Up 0.3%

Shares of RNR stock opened at $260.19 on Friday. The stock's 50 day simple moving average is $246.33 and its 200 day simple moving average is $243.21. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.36 and a current ratio of 1.36. RenaissanceRe Holdings Ltd. has a twelve month low of $219.00 and a twelve month high of $300.00. The company has a market capitalization of $12.25 billion, a price-to-earnings ratio of 6.65, a PEG ratio of 2.40 and a beta of 0.27.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $12.29 earnings per share for the quarter, beating analysts' consensus estimates of $10.28 by $2.01. RenaissanceRe had a return on equity of 15.00% and a net margin of 15.44%.The business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same period last year, the business earned $12.41 EPS. The firm's revenue was down 2.4% compared to the same quarter last year. As a group, research analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, September 15th. RenaissanceRe's dividend payout ratio (DPR) is presently 4.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods raised their price objective on RenaissanceRe from $268.00 to $269.00 and gave the stock a "market perform" rating in a research report on Monday, July 28th. Morgan Stanley decreased their price objective on RenaissanceRe from $285.00 to $280.00 and set an "overweight" rating for the company in a research report on Monday, July 14th. Weiss Ratings restated a "buy (b)" rating on shares of RenaissanceRe in a research report on Wednesday. Cantor Fitzgerald upgraded RenaissanceRe to a "hold" rating in a research report on Wednesday, August 13th. Finally, Cowen restated a "hold" rating on shares of RenaissanceRe in a research report on Tuesday. Four research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, RenaissanceRe currently has a consensus rating of "Hold" and a consensus target price of $285.55.

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.

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