Swiss National Bank Has $24.17 Million Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Swiss National Bank reduced its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 1.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 100,700 shares of the insurance provider's stock after selling 1,900 shares during the period. Swiss National Bank owned about 0.21% of RenaissanceRe worth $24,168,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital World Investors raised its stake 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 worth $717,278,000 after acquiring an additional 233,708 shares during the last quarter. Polar Capital Holdings Plc raised its stake in shares of RenaissanceRe by 5.7% in the fourth quarter. Polar Capital Holdings Plc now owns 1,298,190 shares of the insurance provider's stock worth $323,003,000 after acquiring an additional 69,884 shares during the last quarter. Cooke & Bieler LP raised its stake in shares of RenaissanceRe by 18.0% in the first 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 during the last quarter. First Trust Advisors LP raised its stake 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 worth $215,035,000 after acquiring an additional 710,698 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of RenaissanceRe by 17.9% in the fourth quarter. Bank of America Corp DE now owns 817,247 shares of the insurance provider's stock worth $203,339,000 after acquiring an additional 124,125 shares during the last quarter. 99.97% of the stock is owned by institutional investors.

RenaissanceRe Stock Performance

NYSE RNR traded down $1.66 on Thursday, hitting $242.41. 244,595 shares of the stock were exchanged, compared to its average volume of 476,974. 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 business's fifty day moving average is $241.50 and its 200 day moving average is $240.21. RenaissanceRe Holdings Ltd. has a 52 week low of $219.00 and a 52 week high of $300.00. The company has a market capitalization of $11.41 billion, a PE ratio of 6.19, a P/E/G ratio of 2.45 and a beta of 0.29.

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

RenaissanceRe Dividend Announcement

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

Analyst Ratings Changes

A number of research firms recently weighed in on RNR. Cantor Fitzgerald raised shares of RenaissanceRe to a "hold" rating in a research note on Wednesday. Morgan Stanley reduced their price target on shares of RenaissanceRe from $285.00 to $280.00 and set an "overweight" rating for the company in a report on Monday, July 14th. UBS Group upped their price target on shares of RenaissanceRe from $250.00 to $265.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Barclays upped their price target on shares of RenaissanceRe from $256.00 to $273.00 and gave the company an "equal weight" rating in a report on Thursday, July 24th. Finally, Wells Fargo & Company reiterated an "equal weight" rating and issued a $269.00 price target (up previously from $267.00) on shares of RenaissanceRe in a report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, RenaissanceRe presently has an average rating of "Hold" and a consensus price target of $282.09.

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.