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

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

A number of other hedge funds have also bought and sold shares of RNR. Aster Capital Management DIFC Ltd purchased a new position in RenaissanceRe in the 4th quarter worth about $27,000. SBI Securities Co. Ltd. purchased a new stake in shares of RenaissanceRe during the 4th quarter valued at about $29,000. Jones Financial Companies Lllp increased its position in shares of RenaissanceRe by 1,587.5% during the 4th quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock valued at $34,000 after purchasing an additional 127 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of RenaissanceRe by 71.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock valued at $39,000 after purchasing an additional 65 shares during the last quarter. Finally, UMB Bank n.a. increased its position in shares of RenaissanceRe by 40.0% during the 4th quarter. UMB Bank n.a. now owns 175 shares of the insurance provider's stock valued at $44,000 after purchasing an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 99.97% of the company's stock.

Insiders Place Their Bets

In other RenaissanceRe news, CAO James Christopher Fraser sold 332 shares of the company's stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 27,154 shares in the company, valued at approximately $6,776,009.16. This represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RNR. Morgan Stanley set a $285.00 price target on shares of RenaissanceRe and gave the company an "overweight" rating in a research report on Monday, May 19th. Jefferies Financial Group reduced their price target on shares of RenaissanceRe from $266.00 to $265.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Bank of America reduced their price target on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a research report on Wednesday, March 26th. Wells Fargo & Company reduced their target price on shares of RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Finally, JMP Securities reissued a "market perform" rating on shares of RenaissanceRe in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, RenaissanceRe currently has an average rating of "Hold" and a consensus target price of $283.60.

RenaissanceRe Stock Performance

NYSE RNR traded up $3.20 during mid-day trading on Friday, reaching $248.34. 77,309 shares of the stock were exchanged, compared to its average volume of 431,510. The business's 50 day moving average is $240.75 and its 200-day moving average is $247.62. RenaissanceRe Holdings Ltd. has a 1 year low of $208.98 and a 1 year high of $300.00. The company has a market capitalization of $12.08 billion, a P/E ratio of 7.09, a P/E/G ratio of 2.09 and a beta of 0.34. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share for the quarter, missing analysts' consensus estimates of ($0.32) by ($1.17). The company had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.36 billion. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. The business's revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $12.18 earnings per share. On average, equities research analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Friday, June 13th. RenaissanceRe's dividend payout ratio is presently 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.