Arrowstreet Capital Limited Partnership Buys 38,947 Shares of RenaissanceRe Holdings Ltd. $RNR

Arrowstreet Capital Limited Partnership lifted its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 43.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 127,711 shares of the insurance provider's stock after buying an additional 38,947 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.30% of RenaissanceRe worth $37,960,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of RNR. Boston Partners lifted its stake in RenaissanceRe by 9.9% during the 4th quarter. Boston Partners now owns 1,423,483 shares of the insurance provider's stock valued at $400,150,000 after acquiring an additional 128,245 shares in the last quarter. Lightrock Netherlands B.V. raised its holdings in shares of RenaissanceRe by 15.8% in the first quarter. Lightrock Netherlands B.V. now owns 1,178,423 shares of the insurance provider's stock valued at $350,263,000 after purchasing an additional 160,915 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of RenaissanceRe by 5.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,085,380 shares of the insurance provider's stock valued at $322,603,000 after purchasing an additional 52,371 shares in the last quarter. Bank of America Corp DE lifted its position in shares of RenaissanceRe by 17.6% during the second quarter. Bank of America Corp DE now owns 803,547 shares of the insurance provider's stock valued at $195,182,000 after purchasing an additional 120,063 shares in the last quarter. Finally, Orbis Allan Gray Ltd bought a new position in shares of RenaissanceRe during the fourth quarter valued at about $178,519,000. Institutional investors own 99.97% of the company's stock.

Wall Street Analyst Weigh In

RNR has been the subject of a number of recent analyst reports. UBS Group set a $349.00 price objective on shares of RenaissanceRe and gave the stock a "neutral" rating in a research report on Monday. JPMorgan Chase & Co. boosted their target price on RenaissanceRe from $329.00 to $360.00 and gave the stock a "neutral" rating in a research note on Monday, July 20th. Morgan Stanley upped their target price on RenaissanceRe from $310.00 to $320.00 and gave the company an "equal weight" rating in a report on Monday, July 6th. Evercore set a $330.00 price target on RenaissanceRe in a research report on Thursday, July 23rd. Finally, Wells Fargo & Company lifted their price target on RenaissanceRe from $306.00 to $329.00 and gave the stock an "equal weight" rating in a report on Thursday, July 9th. Five research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $336.33.

Insiders Place Their Bets

In other news, EVP Robert Qutub sold 5,000 shares of RenaissanceRe stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $333.03, for a total value of $1,665,150.00. Following the completion of the transaction, the executive vice president owned 72,907 shares in the company, valued at $24,280,218.21. This trade represents a 6.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is owned by corporate insiders.

RenaissanceRe Stock Performance

Shares of RNR opened at $334.63 on Wednesday. RenaissanceRe Holdings Ltd. has a 1 year low of $231.17 and a 1 year high of $335.88. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38. The stock's fifty day moving average price is $306.36 and its two-hundred day moving average price is $299.40. The firm has a market cap of $13.90 billion, a PE ratio of 5.74, a PEG ratio of 1.24 and a beta of 0.17.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The insurance provider reported $12.92 earnings per share for the quarter, topping the consensus estimate of $11.72 by $1.20. RenaissanceRe had a return on equity of 23.10% and a net margin of 23.65%.The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the prior year, the company earned $12.29 EPS. On average, equities research analysts forecast that RenaissanceRe Holdings Ltd. will post 41.08 EPS for the current year.

RenaissanceRe Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Monday, June 15th. RenaissanceRe's dividend payout ratio (DPR) is currently 2.81%.

RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.

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