GeoWealth Management LLC Purchases 1,089 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

GeoWealth Management LLC increased its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 766.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,231 shares of the insurance provider's stock after purchasing an additional 1,089 shares during the quarter. GeoWealth Management LLC's holdings in RenaissanceRe were worth $306,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RNR. Norges Bank purchased a new stake in RenaissanceRe during the fourth quarter valued at about $173,530,000. Boston Partners raised its holdings in shares of RenaissanceRe by 28.5% during the fourth quarter. Boston Partners now owns 2,013,382 shares of the insurance provider's stock valued at $500,991,000 after acquiring an additional 446,781 shares during the period. Geode Capital Management LLC lifted its position in shares of RenaissanceRe by 24.3% in the 4th quarter. Geode Capital Management LLC now owns 1,144,805 shares of the insurance provider's stock valued at $284,907,000 after acquiring an additional 223,991 shares in the last quarter. Impax Asset Management Group plc boosted its stake in 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 worth $466,969,000 after purchasing an additional 182,530 shares during the period. Finally, Invesco Ltd. grew its position in RenaissanceRe by 13.0% during the 4th quarter. Invesco Ltd. now owns 821,111 shares of the insurance provider's stock worth $204,301,000 after purchasing an additional 94,389 shares in the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

RenaissanceRe Stock Up 0.7 %

RNR stock traded up $1.74 during trading hours on Monday, hitting $237.09. The company's stock had a trading volume of 80,904 shares, compared to its average volume of 426,653. The company has a market capitalization of $11.62 billion, a PE ratio of 6.77, a price-to-earnings-growth ratio of 2.09 and a beta of 0.29. The stock has a 50 day moving average price of $237.66 and a two-hundred day moving average price of $252.00. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. 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 posted its earnings results 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 return on equity of 23.41% and a net margin of 15.99%. The business had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.36 billion. On average, equities research analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.40 dividend. This is a positive change from RenaissanceRe's previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 0.67%. The ex-dividend date was Friday, March 14th. RenaissanceRe's payout ratio is 5.10%.

Wall Street Analyst Weigh In

RNR has been the subject of a number of research analyst reports. JMP Securities restated a "market perform" rating on shares of RenaissanceRe in a report on Thursday. Wells Fargo & Company decreased their price objective on RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. JPMorgan Chase & Co. upgraded 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. Morgan Stanley upgraded shares of RenaissanceRe from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $235.00 to $275.00 in a report on Friday. Finally, Jefferies Financial Group dropped their price objective on shares of RenaissanceRe from $266.00 to $265.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, RenaissanceRe currently has a consensus rating of "Hold" and a consensus target price 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.