RenaissanceRe Holdings Ltd. (NYSE:RNR) Stock Holdings Reduced by Nuveen Asset Management LLC

Nuveen Asset Management LLC lessened its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 36.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 227,129 shares of the insurance provider's stock after selling 129,252 shares during the quarter. Nuveen Asset Management LLC owned about 0.44% of RenaissanceRe worth $56,512,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Capital World Investors lifted its holdings in RenaissanceRe by 8.8% in the fourth quarter. Capital World Investors now owns 2,882,835 shares of the insurance provider's stock worth $717,278,000 after purchasing an additional 233,708 shares during the period. Boston Partners raised its position in shares of RenaissanceRe by 28.5% during the 4th quarter. Boston Partners now owns 2,013,382 shares of the insurance provider's stock worth $500,991,000 after buying an additional 446,781 shares in the last quarter. Impax Asset Management Group plc lifted 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 worth $466,969,000 after acquiring an additional 182,530 shares during the period. Geode Capital Management LLC boosted its holdings in shares of RenaissanceRe by 24.3% in the fourth quarter. Geode Capital Management LLC now owns 1,144,805 shares of the insurance provider's stock valued at $284,907,000 after acquiring an additional 223,991 shares in the last quarter. Finally, FIL Ltd increased its stake in shares of RenaissanceRe by 5.1% during the fourth quarter. FIL Ltd now owns 1,033,691 shares of the insurance provider's stock valued at $257,193,000 after acquiring an additional 49,804 shares during the period. Institutional investors own 99.97% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. JMP Securities restated a "market perform" rating on shares of RenaissanceRe in a research report on Thursday, April 24th. Barclays lowered their target price on RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating on the stock in a report on Friday, April 11th. Morgan Stanley upped their price target on shares of RenaissanceRe from $275.00 to $285.00 and gave the company an "overweight" rating in a report on Monday. Jefferies Financial Group lowered their price objective on shares of RenaissanceRe from $266.00 to $265.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Finally, Wells Fargo & Company dropped 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. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $283.60.

Insider Activity

In related news, CAO James Christopher Fraser sold 332 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The shares were 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 approximately $6,776,009.16. The trade was a 1.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

RenaissanceRe Trading Down 2.2%

Shares of RNR traded down $5.37 during midday trading on Thursday, hitting $238.95. The stock had a trading volume of 347,378 shares, compared to its average volume of 429,496. The business has a 50-day simple moving average of $240.60 and a two-hundred day simple moving average of $248.76. The firm has a market cap of $11.62 billion, a P/E ratio of 6.82, a price-to-earnings-growth ratio of 2.09 and a beta of 0.34. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19. RenaissanceRe Holdings Ltd. has a fifty-two week low of $208.98 and a fifty-two week high of $300.00.

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

RenaissanceRe Dividend Announcement

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

RenaissanceRe Profile

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.