Waverton Investment Management Ltd Grows Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Waverton Investment Management Ltd raised its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 6.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 42,926 shares of the insurance provider's stock after buying an additional 2,761 shares during the quarter. Waverton Investment Management Ltd owned about 0.09% of RenaissanceRe worth $10,300,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Capital World Investors boosted its holdings in RenaissanceRe by 8.8% in the fourth quarter. Capital World Investors now owns 2,882,835 shares of the insurance provider's stock valued at $717,278,000 after acquiring an additional 233,708 shares in the last quarter. Boston Partners lifted its position in shares of RenaissanceRe by 28.5% in the 4th quarter. Boston Partners now owns 2,013,382 shares of the insurance provider's stock worth $500,991,000 after purchasing an additional 446,781 shares during the period. Polar Capital Holdings Plc boosted its stake in shares of RenaissanceRe by 5.7% during the 4th quarter. Polar Capital Holdings Plc now owns 1,298,190 shares of the insurance provider's stock valued at $323,003,000 after purchasing an additional 69,884 shares in the last quarter. Geode Capital Management LLC increased its position in shares of RenaissanceRe by 24.3% during the fourth quarter. Geode Capital Management LLC now owns 1,144,805 shares of the insurance provider's stock valued at $284,907,000 after buying an additional 223,991 shares during the period. Finally, FIL Ltd lifted its holdings in RenaissanceRe by 5.1% in the fourth quarter. FIL Ltd now owns 1,033,691 shares of the insurance provider's stock worth $257,193,000 after buying an additional 49,804 shares during the period. 99.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on RNR shares. JMP Securities reissued a "market perform" rating on shares of RenaissanceRe in a research report on Thursday, April 24th. 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. Jefferies Financial Group reduced their target price on shares of RenaissanceRe from $266.00 to $265.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. 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. Finally, Wells Fargo & Company dropped their price objective on shares of RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $283.60.

Insider Buying and Selling

In related news, CAO James Christopher Fraser sold 332 shares of the business's 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 completion of the sale, 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

RenaissanceRe Trading Up 0.3%

RenaissanceRe stock opened at $241.45 on Friday. RenaissanceRe Holdings Ltd. has a one year low of $208.98 and a one year high of $300.00. The business's fifty day moving average is $243.65 and its 200 day moving average is $243.62. The stock has a market capitalization of $11.75 billion, a PE ratio of 7.70, a price-to-earnings-growth ratio of 2.89 and a beta of 0.31. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 1.36.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) EPS for the quarter, missing analysts' consensus estimates of ($0.32) by ($1.17). The company had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.36 billion. RenaissanceRe had a return on equity of 15.90% and a net margin of 13.26%. The business's revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $12.18 earnings per share. On average, sell-side analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.66%. RenaissanceRe's dividend payout ratio (DPR) is currently 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.

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