First Trust Advisors LP Has $215.04 Million Stock Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

First Trust Advisors LP boosted its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 462.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 864,252 shares of the insurance provider's stock after buying an additional 710,698 shares during the period. First Trust Advisors LP owned approximately 1.66% of RenaissanceRe worth $215,035,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of RNR. MassMutual Private Wealth & Trust FSB lifted its position in RenaissanceRe by 51.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider's stock worth $30,000 after purchasing an additional 41 shares during the period. UMB Bank n.a. lifted its stake in RenaissanceRe by 40.0% during the fourth quarter. UMB Bank n.a. now owns 175 shares of the insurance provider's stock worth $44,000 after purchasing an additional 50 shares during the period. Lifestyle Asset Management Inc. boosted its holdings in RenaissanceRe by 1.1% during the fourth quarter. Lifestyle Asset Management Inc. now owns 4,645 shares of the insurance provider's stock valued at $1,156,000 after purchasing an additional 52 shares in the last quarter. AMG National Trust Bank boosted its holdings in RenaissanceRe by 1.3% during the fourth quarter. AMG National Trust Bank now owns 4,688 shares of the insurance provider's stock valued at $1,166,000 after purchasing an additional 59 shares in the last quarter. Finally, Principal Securities Inc. grew its stake in shares of RenaissanceRe by 11.9% in the 4th quarter. Principal Securities Inc. now owns 565 shares of the insurance provider's stock valued at $141,000 after purchasing an additional 60 shares during the period. 99.97% of the stock is currently owned by institutional investors and hedge funds.

RenaissanceRe Stock Performance

Shares of NYSE RNR traded up $8.10 during mid-day trading on Friday, reaching $236.04. 427,906 shares of the company were exchanged, compared to its average volume of 423,702. The stock has a market capitalization of $11.57 billion, a P/E ratio of 6.74, a P/E/G ratio of 2.09 and a beta of 0.29. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. The company's 50-day simple moving average is $237.61 and its 200-day simple moving average is $252.52. RenaissanceRe Holdings Ltd. has a twelve month low of $208.98 and a twelve month high of $300.00.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.32) by ($1.17). RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. The firm had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.36 billion. As a group, research analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, March 14th. This is a boost from RenaissanceRe's previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a dividend yield of 0.68%. RenaissanceRe's dividend payout ratio (DPR) is currently 5.10%.

Wall Street Analysts Forecast Growth

RNR has been the subject of several recent analyst reports. Keefe, Bruyette & Woods dropped their price objective on RenaissanceRe from $318.00 to $294.00 and set an "outperform" rating for the company in a research note on Tuesday, February 4th. Bank of America cut their price target on RenaissanceRe from $437.00 to $426.00 and set a "buy" rating on the stock in a research note on Wednesday, March 26th. Wells Fargo & Company dropped their target price on shares of RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. JMP Securities reaffirmed a "market perform" rating on shares of RenaissanceRe in a research note on Thursday. Finally, Jefferies Financial Group reduced their target price on RenaissanceRe from $266.00 to $265.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $283.80.

RenaissanceRe 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.