Rhumbline Advisers Acquires 1,649 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Rhumbline Advisers boosted its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 1.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 137,005 shares of the insurance provider's stock after purchasing an additional 1,649 shares during the period. Rhumbline Advisers owned 0.28% of RenaissanceRe worth $32,881,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. First Trust Advisors LP lifted its position in shares of RenaissanceRe by 462.8% in the fourth quarter. First Trust Advisors LP now owns 864,252 shares of the insurance provider's stock valued at $215,035,000 after buying an additional 710,698 shares during the last quarter. Norges Bank acquired a new stake in shares of RenaissanceRe in the fourth quarter valued at approximately $173,530,000. Boston Partners lifted its position in shares of RenaissanceRe by 28.5% in the fourth quarter. Boston Partners now owns 2,013,382 shares of the insurance provider's stock valued at $500,991,000 after buying an additional 446,781 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of RenaissanceRe by 33,487.8% in the first quarter. GAMMA Investing LLC now owns 396,000 shares of the insurance provider's stock valued at $95,040,000 after buying an additional 394,821 shares during the last quarter. Finally, Capital World Investors lifted its position in shares of RenaissanceRe by 8.8% in the fourth quarter. Capital World Investors now owns 2,882,835 shares of the insurance provider's stock valued at $717,278,000 after buying an additional 233,708 shares during the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Keefe, Bruyette & Woods raised 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. Barclays cut their price objective on RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating for the company in a research report on Friday, April 11th. Morgan Stanley set a $285.00 target price on RenaissanceRe and gave the stock an "overweight" rating in a research note on Monday, May 19th. Finally, Wells Fargo & Company lowered their target price on RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $283.60.

Insider Activity at RenaissanceRe

In other RenaissanceRe news, CAO James Christopher Fraser sold 332 shares of RenaissanceRe stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $249.54, for a total transaction of $82,847.28. Following the transaction, the chief accounting officer now directly owns 27,154 shares of the company's stock, valued at approximately $6,776,009.16. The trade was a 1.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by company insiders.

RenaissanceRe Price Performance

RenaissanceRe stock traded up $3.80 during mid-day trading on Friday, reaching $246.70. 358,812 shares of the company were exchanged, compared to its average volume of 437,296. The company has a fifty day simple moving average of $241.42 and a 200-day simple moving average of $246.85. The firm has a market cap of $12.00 billion, a PE ratio of 7.04, a PEG ratio of 2.09 and a beta of 0.31. 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 current ratio of 1.42 and a quick ratio of 1.42.

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

RenaissanceRe Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Friday, June 13th. RenaissanceRe's dividend payout ratio (DPR) is 5.10%.

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.