RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Acquired by Bridges Investment Management Inc.

Bridges Investment Management Inc. increased its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 21.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,020 shares of the insurance provider's stock after buying an additional 1,080 shares during the period. Bridges Investment Management Inc.'s holdings in RenaissanceRe were worth $1,445,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bessemer Group Inc. raised its stake in RenaissanceRe by 5.8% in the 4th quarter. Bessemer Group Inc. now owns 1,106 shares of the insurance provider's stock valued at $274,000 after purchasing an additional 61 shares during the last quarter. Independent Advisor Alliance raised its stake in RenaissanceRe by 7.7% in the 4th quarter. Independent Advisor Alliance now owns 864 shares of the insurance provider's stock valued at $215,000 after purchasing an additional 62 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in RenaissanceRe by 71.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock valued at $39,000 after purchasing an additional 65 shares during the last quarter. Fifth Third Bancorp raised its stake in RenaissanceRe by 1.2% in the 1st quarter. Fifth Third Bancorp now owns 6,599 shares of the insurance provider's stock valued at $1,584,000 after purchasing an additional 79 shares during the last quarter. Finally, Seeds Investor LLC raised its stake in RenaissanceRe by 6.3% in the 4th quarter. Seeds Investor LLC now owns 1,385 shares of the insurance provider's stock valued at $344,000 after purchasing an additional 82 shares during the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RNR has been the subject of several analyst reports. Barclays raised shares of RenaissanceRe from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $231.00 to $256.00 in a research note on Monday. Jefferies Financial Group dropped their price objective on shares of RenaissanceRe from $266.00 to $265.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $268.00 price objective (down previously from $282.00) on shares of RenaissanceRe in a research note on Wednesday. Bank of America dropped their price objective on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a research note on Wednesday, March 26th. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating and set a $269.00 price objective (up previously from $267.00) on shares of RenaissanceRe in a research note on Thursday. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, RenaissanceRe presently has a consensus rating of "Hold" and an average price target of $288.56.

RenaissanceRe Trading Down 0.8%

RNR traded down $1.92 on Thursday, reaching $238.33. 398,902 shares of the company's stock were exchanged, compared to its average volume of 445,811. The company's 50 day moving average is $244.09 and its 200-day moving average is $242.48. The company has a market cap of $11.59 billion, a price-to-earnings ratio of 7.60, a PEG ratio of 2.90 and a beta of 0.30. RenaissanceRe Holdings Ltd. has a twelve month low of $210.51 and a twelve month high of $300.00. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.36 and a current ratio of 1.36.

RenaissanceRe (NYSE:RNR - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share for the quarter, missing analysts' consensus estimates of ($0.32) by ($1.17). The company had revenue of $3.44 billion during the quarter, compared to analysts' expectations of $3.36 billion. RenaissanceRe had a return on equity of 15.90% and a net margin of 13.26%. The firm's revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $12.18 EPS. Equities analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Dividend Announcement

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

Insider Activity at RenaissanceRe

In other news, CAO James Christopher Fraser sold 332 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer directly owned 27,154 shares in the company, valued at approximately $6,776,009.16. This represents a 1.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.30% of the company's stock.

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.