Dimensional Fund Advisors LP Boosts Holdings in RenaissanceRe Holdings Ltd. $RNR

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 grew its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 15.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 763,210 shares of the insurance provider's stock after purchasing an additional 101,060 shares during the period. Dimensional Fund Advisors LP owned about 1.57% of RenaissanceRe worth $183,175,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Tsfg LLC purchased a new stake in shares of RenaissanceRe during the first quarter worth $40,000. LRI Investments LLC boosted its holdings in shares of RenaissanceRe by 116.5% during the first quarter. LRI Investments LLC now owns 262 shares of the insurance provider's stock worth $63,000 after purchasing an additional 141 shares during the period. UMB Bank n.a. boosted its holdings in shares of RenaissanceRe by 165.1% during the first quarter. UMB Bank n.a. now owns 464 shares of the insurance provider's stock worth $111,000 after purchasing an additional 289 shares during the period. State of Wyoming purchased a new stake in RenaissanceRe in the fourth quarter worth about $175,000. Finally, Rossby Financial LCC purchased a new stake in RenaissanceRe in the first quarter worth about $187,000. Hedge funds and other institutional investors own 99.97% of the company's stock.

RenaissanceRe Trading Down 0.5%

RNR stock traded down $1.1290 during mid-day trading on Friday, reaching $248.0210. The company had a trading volume of 307,587 shares, compared to its average volume of 383,465. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.36 and a quick ratio of 1.36. The company has a market capitalization of $11.67 billion, a PE ratio of 6.34, a price-to-earnings-growth ratio of 2.44 and a beta of 0.29. The firm has a 50 day moving average of $241.52 and a 200 day moving average of $240.45. RenaissanceRe Holdings Ltd. has a 12 month low of $219.00 and a 12 month high of $300.00.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its earnings results 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 business had revenue of $2.77 billion for 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%. The company's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $12.41 EPS. On average, equities analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, September 15th. RenaissanceRe's dividend payout ratio is presently 4.09%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on RNR shares. Wells Fargo & Company reissued an "equal weight" rating and set a $269.00 price target (up previously from $267.00) on shares of RenaissanceRe in a research report on Thursday, July 10th. Citigroup assumed coverage on shares of RenaissanceRe in a research note on Wednesday, August 13th. They set a "buy" rating and a $288.00 price target on the stock. Morgan Stanley cut their price objective on shares of RenaissanceRe from $285.00 to $280.00 and set an "overweight" rating for the company in a research report on Monday, July 14th. Barclays upped their target price on shares of RenaissanceRe from $256.00 to $273.00 and gave the stock an "equal weight" rating in a report on Thursday, July 24th. Finally, Cantor Fitzgerald raised shares of RenaissanceRe to a "hold" rating in a report on Wednesday, August 13th. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $282.09.

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.