RenaissanceRe Holdings Ltd. (NYSE:RNR) Holdings Boosted by Quantinno Capital Management LP

Quantinno Capital Management LP grew its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 518.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,367 shares of the insurance provider's stock after purchasing an additional 6,175 shares during the quarter. Quantinno Capital Management LP's holdings in RenaissanceRe were worth $1,833,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Bank of America Corp DE boosted its position in RenaissanceRe by 17.9% during 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 period. Impax Asset Management Group plc lifted its stake in RenaissanceRe by 10.8% in the fourth 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 last quarter. Trexquant Investment LP acquired a new position in shares of RenaissanceRe during the fourth quarter valued at $561,000. Barclays PLC grew its position in shares of RenaissanceRe by 57.1% during the third quarter. Barclays PLC now owns 22,923 shares of the insurance provider's stock worth $6,244,000 after acquiring an additional 8,333 shares during the last quarter. Finally, Franklin Resources Inc. bought a new position in shares of RenaissanceRe during the fourth quarter worth about $1,086,000. 99.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on RNR shares. Morgan Stanley lifted their price objective on shares of RenaissanceRe from $275.00 to $285.00 and gave the company an "overweight" rating in a research report on Monday. Keefe, Bruyette & Woods boosted their price objective on RenaissanceRe from $279.00 to $282.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. Wells Fargo & Company lowered their target price on RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Bank of America cut their target price on RenaissanceRe from $437.00 to $426.00 and set a "buy" rating on the stock in a research note on Wednesday, March 26th. Finally, JPMorgan Chase & Co. upgraded RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price target for the company in a research report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, RenaissanceRe presently has a consensus rating of "Hold" and an average target price of $283.60.

Insider Buying and Selling

In other news, CAO James Christopher Fraser sold 332 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $249.54, for a total transaction of $82,847.28. Following the sale, the chief accounting officer now directly owns 27,154 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by insiders.

RenaissanceRe Stock Down 0.9%

RNR opened at $244.27 on Thursday. 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 capitalization of $11.88 billion, a PE ratio of 6.98, a P/E/G ratio of 2.09 and a beta of 0.34. The stock's fifty day moving average is $240.60 and its 200-day moving average is $248.76. RenaissanceRe Holdings Ltd. has a one year low of $208.98 and a one year high of $300.00.

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

RenaissanceRe Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Friday, June 13th. RenaissanceRe's dividend payout ratio 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.

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