UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stock Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 9.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 199,476 shares of the insurance provider's stock after purchasing an additional 16,862 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.38% of RenaissanceRe worth $49,632,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. USS Investment Management Ltd grew its position in RenaissanceRe by 39.0% in the 4th quarter. USS Investment Management Ltd now owns 10,742 shares of the insurance provider's stock valued at $2,675,000 after acquiring an additional 3,014 shares in the last quarter. Twinbeech Capital LP purchased a new stake in RenaissanceRe during the 4th quarter worth approximately $3,299,000. Two Sigma Investments LP lifted its holdings in RenaissanceRe by 35.8% during the 4th quarter. Two Sigma Investments LP now owns 3,950 shares of the insurance provider's stock worth $983,000 after buying an additional 1,042 shares in the last quarter. Two Sigma Advisers LP boosted its position in RenaissanceRe by 14.5% in the 4th quarter. Two Sigma Advisers LP now owns 12,600 shares of the insurance provider's stock valued at $3,135,000 after buying an additional 1,600 shares during the period. Finally, Tidal Investments LLC increased its position in shares of RenaissanceRe by 19.1% during the fourth quarter. Tidal Investments LLC now owns 11,002 shares of the insurance provider's stock worth $2,737,000 after acquiring an additional 1,766 shares during the period. Hedge funds and other institutional investors own 99.97% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on RNR. 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. Barclays lowered 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. JPMorgan Chase & Co. raised shares of RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 target price on the stock in a report on Tuesday, April 8th. Bank of America lowered their price target on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a report on Wednesday, March 26th. Finally, Wells Fargo & Company reduced their price objective on shares of RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $283.60.

Insiders Place Their Bets

In other RenaissanceRe news, CAO James Christopher Fraser sold 332 shares of RenaissanceRe stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $249.54, for a total value of $82,847.28. Following the transaction, the chief accounting officer now directly owns 27,154 shares in the company, valued at approximately $6,776,009.16. The trade was a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

RenaissanceRe Stock Down 2.2%

Shares of RenaissanceRe stock traded down $5.35 during trading hours on Wednesday, hitting $239.36. The company had a trading volume of 281,693 shares, compared to its average volume of 431,826. The company's 50-day moving average is $240.59 and its two-hundred day moving average is $247.81. RenaissanceRe Holdings Ltd. has a twelve month low of $208.98 and a twelve 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. The company has a market cap of $11.65 billion, a P/E ratio of 6.84, a price-to-earnings-growth ratio of 2.09 and a beta of 0.34.

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 (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 company had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.36 billion. During the same quarter in the prior year, the company earned $12.18 EPS. The business's revenue was up 7.6% on a year-over-year basis. Analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend 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.