RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Acquired by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 1,458.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,950 shares of the insurance provider's stock after purchasing an additional 6,504 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in RenaissanceRe were worth $1,729,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB raised its position in RenaissanceRe by 51.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider's stock valued at $30,000 after acquiring an additional 41 shares in the last quarter. UMB Bank n.a. raised its position in RenaissanceRe by 40.0% during the fourth quarter. UMB Bank n.a. now owns 175 shares of the insurance provider's stock valued at $44,000 after acquiring an additional 50 shares in the last quarter. Lifestyle Asset Management Inc. raised its position in RenaissanceRe by 1.1% during the fourth quarter. Lifestyle Asset Management Inc. now owns 4,645 shares of the insurance provider's stock valued at $1,156,000 after acquiring an additional 52 shares in the last quarter. AMG National Trust Bank raised its position in RenaissanceRe by 1.3% during the fourth quarter. AMG National Trust Bank now owns 4,688 shares of the insurance provider's stock valued at $1,166,000 after acquiring an additional 59 shares in the last quarter. Finally, Principal Securities Inc. raised its position in RenaissanceRe by 11.9% during the fourth quarter. Principal Securities Inc. now owns 565 shares of the insurance provider's stock valued at $141,000 after acquiring an additional 60 shares in the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at RenaissanceRe

In other RenaissanceRe news, CAO James Christopher Fraser sold 332 shares of the company's stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 27,154 shares in the company, valued at $6,776,009.16. This represents a 1.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on RNR shares. Barclays cut their price target on RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating for the company in a research note on Friday, April 11th. Morgan Stanley set a $285.00 price objective on RenaissanceRe and gave the company an "overweight" rating in a research report on Monday, May 19th. Keefe, Bruyette & Woods boosted their price objective on RenaissanceRe from $279.00 to $282.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. Jefferies Financial Group cut their price objective on RenaissanceRe from $266.00 to $265.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Finally, Wells Fargo & Company cut their price objective on RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $283.60.

RenaissanceRe Price Performance

Shares of RNR traded down $2.30 during trading hours on Wednesday, hitting $242.41. 13,937 shares of the stock were exchanged, compared to its average volume of 430,789. The company has a market cap of $11.79 billion, a price-to-earnings ratio of 6.93, a price-to-earnings-growth ratio of 2.09 and a beta of 0.34. The stock's 50-day moving average price is $240.59 and its two-hundred day moving average price is $247.81. RenaissanceRe Holdings Ltd. has a 12-month low of $208.98 and a 12-month 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.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its earnings results 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). The company had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.36 billion. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. The company's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $12.18 earnings per share. Research analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Dividend Announcement

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