Royce & Associates LP Purchases 4,736 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Royce & Associates LP boosted its position in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 4.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,932 shares of the insurance provider's stock after purchasing an additional 4,736 shares during the quarter. Royce & Associates LP owned about 0.25% of RenaissanceRe worth $28,784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. AE Wealth Management LLC purchased a new stake in RenaissanceRe during the first quarter valued at about $256,000. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in RenaissanceRe by 13.8% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 6,897 shares of the insurance provider's stock worth $1,655,000 after purchasing an additional 838 shares in the last quarter. Gallacher Capital Management LLC bought a new stake in RenaissanceRe during the 1st quarter valued at approximately $280,000. South Dakota Investment Council raised its holdings in RenaissanceRe by 0.7% in the first quarter. South Dakota Investment Council now owns 89,737 shares of the insurance provider's stock worth $21,537,000 after purchasing an additional 609 shares in the last quarter. Finally, Impact Partnership Wealth LLC grew its holdings in RenaissanceRe by 14.9% in the first quarter. Impact Partnership Wealth LLC now owns 1,189 shares of the insurance provider's stock worth $285,000 after purchasing an additional 154 shares during the period. Institutional investors own 99.97% of the company's stock.

RenaissanceRe Trading Up 3.4%

RNR stock traded up $8.18 during trading on Friday, hitting $247.18. The company had a trading volume of 947,140 shares, compared to its average volume of 485,375. RenaissanceRe Holdings Ltd. has a 52-week low of $219.00 and a 52-week high of $300.00. The company has a 50 day simple moving average of $242.35 and a 200-day simple moving average of $241.41. The firm has a market capitalization of $12.03 billion, a P/E ratio of 6.32, a PEG ratio of 2.89 and a beta of 0.30. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.23.

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

RenaissanceRe Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.65%. The ex-dividend date was Friday, June 13th. RenaissanceRe's payout ratio is 4.09%.

Analysts Set New Price Targets

RNR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upgraded shares of RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price target on the stock in a report on Tuesday, April 8th. Jefferies Financial Group cut their price target on RenaissanceRe from $266.00 to $265.00 and set a "hold" rating for the company in a report on Friday, April 11th. JMP Securities reaffirmed a "market perform" rating on shares of RenaissanceRe in a report on Thursday, April 24th. 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 research report on Thursday. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating and set a $269.00 price objective (up from $267.00) on shares of RenaissanceRe in a report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, RenaissanceRe presently has an average rating of "Hold" and an average price target of $289.89.

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 shares were sold at an average price of $249.54, for a total transaction of $82,847.28. Following the transaction, the chief accounting officer directly owned 27,154 shares in the company, valued at approximately $6,776,009.16. This trade represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate 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.