Nomura Holdings Inc. Takes $1.72 Million Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Nomura Holdings Inc. bought a new position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,892 shares of the insurance provider's stock, valued at approximately $1,715,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of RenaissanceRe by 1,458.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,950 shares of the insurance provider's stock worth $1,729,000 after buying an additional 6,504 shares during the last quarter. Focus Partners Wealth acquired a new stake in RenaissanceRe during the 4th quarter worth $378,000. Ensign Peak Advisors Inc lifted its position in RenaissanceRe by 4.1% in the fourth quarter. Ensign Peak Advisors Inc now owns 16,619 shares of the insurance provider's stock valued at $4,135,000 after acquiring an additional 657 shares during the last quarter. Ethic Inc. boosted its stake in RenaissanceRe by 23.9% in the fourth quarter. Ethic Inc. now owns 4,104 shares of the insurance provider's stock valued at $1,021,000 after acquiring an additional 791 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of RenaissanceRe by 4.2% during the fourth quarter. Deutsche Bank AG now owns 10,715 shares of the insurance provider's stock worth $2,666,000 after purchasing an additional 431 shares during the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity at RenaissanceRe

In related news, CAO James Christopher Fraser sold 332 shares of the business's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $249.54, for a total transaction of $82,847.28. Following the sale, the chief accounting officer now owns 27,154 shares of the company's stock, valued at approximately $6,776,009.16. The trade was a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.30% of the company's stock.

RenaissanceRe Stock Performance

RNR traded up $0.17 during trading on Friday, hitting $238.94. The stock had a trading volume of 106,718 shares, compared to its average volume of 428,652. RenaissanceRe Holdings Ltd. has a twelve month low of $208.98 and a twelve month high of $300.00. The firm has a market capitalization of $11.62 billion, a P/E ratio of 6.83, a PEG ratio of 2.09 and a beta of 0.34. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42. The company's 50-day moving average price is $240.48 and its 200 day moving average price is $248.57.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted 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 return on equity of 23.41% and a net margin of 15.99%. The firm had revenue of $3.44 billion for the quarter, compared to analysts' expectations of $3.36 billion. During the same period in the prior year, the company earned $12.18 earnings per share. The company's revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities research analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.67%. RenaissanceRe's dividend payout ratio is currently 5.10%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RNR shares. Jefferies Financial Group reduced their target price on RenaissanceRe from $266.00 to $265.00 and set a "hold" rating for the company in a report on Friday, April 11th. JPMorgan Chase & Co. upgraded RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price objective for the company in a research note on Tuesday, April 8th. JMP Securities restated a "market perform" rating on shares of RenaissanceRe in a research report on Thursday, April 24th. Wells Fargo & Company cut their target price on shares of RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Finally, Barclays reduced their price target 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. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, RenaissanceRe has an average rating of "Hold" and a consensus price target 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.