RenaissanceRe Holdings Ltd. (NYSE:RNR) Stock Position Increased by Rhumbline Advisers

Rhumbline Advisers grew its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 1.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 137,005 shares of the insurance provider's stock after acquiring an additional 1,649 shares during the period. Rhumbline Advisers owned about 0.28% of RenaissanceRe worth $32,881,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in RNR. Aster Capital Management DIFC Ltd purchased a new stake in RenaissanceRe during the 4th quarter worth $27,000. SBI Securities Co. Ltd. purchased a new stake in RenaissanceRe during the 4th quarter worth $29,000. Jones Financial Companies Lllp increased its stake in RenaissanceRe by 1,587.5% during the 4th quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock worth $34,000 after buying an additional 127 shares during the period. Smartleaf Asset Management LLC increased its stake in RenaissanceRe by 71.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock worth $39,000 after buying an additional 65 shares during the period. Finally, Huntington National Bank increased its stake in RenaissanceRe by 179.3% during the 4th quarter. Huntington National Bank now owns 257 shares of the insurance provider's stock worth $64,000 after buying an additional 165 shares during the period. Hedge funds and other institutional investors own 99.97% of the company's stock.

Analysts Set New Price Targets

RNR has been the topic of several analyst reports. Wells Fargo & Company dropped their price target on shares of RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Keefe, Bruyette & Woods lifted their price target on shares of RenaissanceRe from $279.00 to $282.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. JMP Securities reaffirmed a "market perform" rating on shares of RenaissanceRe in a research note on Thursday, April 24th. Jefferies Financial Group decreased their price objective on shares of RenaissanceRe from $266.00 to $265.00 and set a "hold" rating for the company in a report on Friday, April 11th. Finally, Morgan Stanley set a $285.00 price objective on shares of RenaissanceRe and gave the stock an "overweight" rating in a report on Monday, May 19th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $283.60.

Insider Activity

In related news, CAO James Christopher Fraser sold 332 shares of RenaissanceRe stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $249.54, for a total value of $82,847.28. Following the sale, the chief accounting officer now directly owns 27,154 shares in the company, valued at $6,776,009.16. This trade represents a 1.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.30% of the company's stock.

RenaissanceRe Stock Down 1.6%

RNR stock traded down $4.02 during mid-day trading on Thursday, hitting $242.85. 478,817 shares of the company were exchanged, compared to its average volume of 435,439. The company has a market capitalization of $11.81 billion, a PE ratio of 6.93, a price-to-earnings-growth ratio of 2.09 and a beta of 0.34. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19. RenaissanceRe Holdings Ltd. has a twelve month low of $208.98 and a twelve month high of $300.00. The firm has a fifty day simple moving average of $241.33 and a 200 day simple moving average of $247.35.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted 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 net margin of 15.99% and a return on equity of 23.41%. The business had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.36 billion. During the same period last year, the firm posted $12.18 earnings per share. The company's quarterly revenue was up 7.6% on a year-over-year basis. On average, research analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

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