Mackenzie Financial Corp Purchases 3,428 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Mackenzie Financial Corp increased its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 25.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,962 shares of the insurance provider's stock after buying an additional 3,428 shares during the quarter. Mackenzie Financial Corp's holdings in RenaissanceRe were worth $4,220,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of RNR. Bank of America Corp DE raised its position in RenaissanceRe by 17.9% in the 4th quarter. Bank of America Corp DE now owns 817,247 shares of the insurance provider's stock valued at $203,339,000 after purchasing an additional 124,125 shares during the last quarter. Impax Asset Management Group plc increased its stake in shares of RenaissanceRe by 10.8% in the 4th quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider's stock valued at $466,969,000 after buying an additional 182,530 shares during the period. Trexquant Investment LP bought a new stake in RenaissanceRe in the fourth quarter valued at about $561,000. Barclays PLC increased its holdings in RenaissanceRe by 57.1% in the third quarter. Barclays PLC now owns 22,923 shares of the insurance provider's stock valued at $6,244,000 after purchasing an additional 8,333 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in RenaissanceRe by 4.2% in the fourth quarter. Deutsche Bank AG now owns 10,715 shares of the insurance provider's stock valued at $2,666,000 after purchasing an additional 431 shares during the last quarter. Institutional investors own 99.97% of the company's stock.

Wall Street Analyst Weigh In

RNR has been the subject of a number of research analyst reports. JMP Securities reissued a "market perform" rating on shares of RenaissanceRe in a research note on Thursday, April 24th. Bank of America decreased their target price on RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a research note on Wednesday, March 26th. Barclays decreased their target price on RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating for the company in a research note on Friday, April 11th. JPMorgan Chase & Co. raised RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price objective for the company in a research report on Tuesday, April 8th. Finally, Morgan Stanley set a $285.00 price objective on RenaissanceRe and gave the stock an "overweight" rating in a research report on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $283.60.

Insider Buying and Selling at RenaissanceRe

In other news, CAO James Christopher Fraser sold 332 shares of the business'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 value of $82,847.28. Following the transaction, the chief accounting officer now owns 27,154 shares in the company, valued at $6,776,009.16. The trade was a 1.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.30% of the company's stock.

RenaissanceRe Trading Up 1.8%

Shares of RNR stock traded up $4.49 during mid-day trading on Friday, hitting $249.63. The company's stock had a trading volume of 584,545 shares, compared to its average volume of 433,615. The company's fifty day simple moving average is $240.96 and its 200-day simple moving average is $247.52. RenaissanceRe Holdings Ltd. has a 52 week low of $208.98 and a 52 week high of $300.00. 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 has a market cap of $12.14 billion, a PE ratio of 7.13, a P/E/G ratio of 2.09 and a beta of 0.34.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share 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 business had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.36 billion. During the same period last year, the business posted $12.18 earnings per share. The business's revenue was up 7.6% on a year-over-year basis. As a group, equities research analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

The business 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 dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.64%. RenaissanceRe's dividend payout ratio (DPR) is currently 5.10%.

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.