RenaissanceRe Holdings Ltd. $RNR Shares Purchased by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP increased its stake in RenaissanceRe Holdings Ltd. by 15.3%, owning 763,210 shares valued at approximately $183.2 million as of the latest SEC filing.
• RenaissanceRe is trading at $243.52 with a market capitalization of $11.46 billion, reporting earnings per share of $12.29 for the last quarter, surpassing analyst expectations.
• The company announced a quarterly dividend of $0.40, resulting in an annualized dividend yield of 0.7%, with a payment date set for September 30th.

Dimensional Fund Advisors LP increased its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 15.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 763,210 shares of the insurance provider's stock after purchasing an additional 101,060 shares during the quarter. Dimensional Fund Advisors LP owned 1.57% of RenaissanceRe worth $183,175,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in shares of RenaissanceRe by 33,487.8% during the first quarter. GAMMA Investing LLC now owns 396,000 shares of the insurance provider's stock worth $95,040,000 after purchasing an additional 394,821 shares in the last quarter. Nuveen LLC purchased a new stake in RenaissanceRe during the 1st quarter worth about $54,087,000. Cooke & Bieler LP boosted its position in shares of RenaissanceRe by 18.0% during the 1st quarter. Cooke & Bieler LP now owns 1,247,742 shares of the insurance provider's stock worth $299,458,000 after acquiring an additional 190,139 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of 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 acquiring an additional 124,125 shares during the last quarter. Finally, Boston Partners raised its position in shares of RenaissanceRe by 4.6% during the 1st quarter. Boston Partners now owns 2,106,207 shares of the insurance provider's stock worth $505,509,000 after acquiring an additional 92,825 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RNR. Barclays lifted their price target on shares of RenaissanceRe from $256.00 to $273.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 24th. Cantor Fitzgerald upgraded RenaissanceRe to a "hold" rating in a research report on Wednesday, August 13th. Citigroup started coverage on RenaissanceRe in a report on Wednesday, August 13th. They issued a "buy" rating and a $288.00 target price for the company. Morgan Stanley dropped their price target on RenaissanceRe from $285.00 to $280.00 and set an "overweight" rating on the stock in a research note on Monday, July 14th. Finally, UBS Group lifted their price target on RenaissanceRe from $250.00 to $265.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, RenaissanceRe has a consensus rating of "Hold" and an average price target of $282.09.

RenaissanceRe Stock Performance

RNR traded down $2.4110 on Monday, hitting $245.5090. 266,935 shares of the company traded hands, compared to its average volume of 351,488. RenaissanceRe Holdings Ltd. has a 12-month low of $219.00 and a 12-month high of $300.00. The company has a 50 day moving average of $241.48 and a 200-day moving average of $240.54. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $11.56 billion, a PE ratio of 6.27, a PEG ratio of 2.43 and a beta of 0.29.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $12.29 EPS for the quarter, topping analysts' consensus estimates of $10.28 by $2.01. The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.96 billion. RenaissanceRe had a net margin of 15.44% and a return on equity of 15.00%. RenaissanceRe's quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $12.41 EPS. Sell-side analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.60 annualized dividend and a dividend yield of 0.7%. RenaissanceRe's payout ratio is 4.09%.

RenaissanceRe Company 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.