RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Acquired by USS Investment Management Ltd

USS Investment Management Ltd boosted its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 39.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,742 shares of the insurance provider's stock after purchasing an additional 3,014 shares during the period. USS Investment Management Ltd's holdings in RenaissanceRe were worth $2,675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of RNR. Bank of America Corp DE raised its position in shares of RenaissanceRe by 17.9% during the 4th quarter. Bank of America Corp DE now owns 817,247 shares of the insurance provider's stock worth $203,339,000 after purchasing an additional 124,125 shares during the last quarter. Impax Asset Management Group plc grew its stake in shares of RenaissanceRe by 10.8% in the 4th quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider's stock valued at $466,969,000 after buying an additional 182,530 shares during the period. Trexquant Investment LP purchased a new stake in shares of RenaissanceRe in the 4th quarter valued at approximately $561,000. Barclays PLC increased its holdings in RenaissanceRe by 57.1% in the 3rd quarter. Barclays PLC now owns 22,923 shares of the insurance provider's stock valued at $6,244,000 after purchasing an additional 8,333 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in RenaissanceRe by 4.2% in the 4th quarter. Deutsche Bank AG now owns 10,715 shares of the insurance provider's stock valued at $2,666,000 after purchasing an additional 431 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on RNR shares. JPMorgan Chase & Co. raised shares of RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price target for the company in a research report on Tuesday, April 8th. Jefferies Financial Group decreased 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 reissued a "market perform" rating on shares of RenaissanceRe in a report on Thursday, April 24th. Keefe, Bruyette & Woods upped their price objective on RenaissanceRe from $279.00 to $282.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. Finally, Wells Fargo & Company dropped their target price on RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $283.60.

Insider Buying and Selling at RenaissanceRe

In other news, CAO James Christopher Fraser sold 332 shares of the firm's 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 completion of the sale, the chief accounting officer now directly owns 27,154 shares in the company, valued at $6,776,009.16. This trade represents a 1.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

RenaissanceRe Trading Up 1.0%

Shares of RNR traded up $2.37 during trading hours on Thursday, hitting $242.06. The stock had a trading volume of 70,117 shares, compared to its average volume of 431,261. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a market cap of $11.78 billion, a P/E ratio of 6.91, a P/E/G ratio of 2.09 and a beta of 0.34. The company's fifty day simple moving average is $240.64 and its 200 day simple moving average is $247.76. RenaissanceRe Holdings Ltd. has a 12-month low of $208.98 and a 12-month high of $300.00.

RenaissanceRe (NYSE:RNR - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported ($1.49) 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 analysts' expectations of $3.36 billion. During the same period last year, the business earned $12.18 earnings per share. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. Equities research analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

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 $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Friday, June 13th. RenaissanceRe's dividend payout ratio (DPR) is presently 5.10%.

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.