MetLife Investment Management LLC Has $7.28 Million Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

MetLife Investment Management LLC boosted its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 8.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,269 shares of the insurance provider's stock after purchasing an additional 2,326 shares during the quarter. MetLife Investment Management LLC owned about 0.06% of RenaissanceRe worth $7,282,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd acquired a new stake in shares of RenaissanceRe in the 4th quarter valued at approximately $27,000. SBI Securities Co. Ltd. acquired a new position in shares of RenaissanceRe in the 4th quarter valued at $29,000. MassMutual Private Wealth & Trust FSB raised its stake in RenaissanceRe by 51.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider's stock worth $30,000 after buying an additional 41 shares during the period. Jones Financial Companies Lllp lifted its holdings in RenaissanceRe by 1,587.5% during the fourth quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock worth $34,000 after acquiring an additional 127 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of RenaissanceRe by 71.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock worth $39,000 after purchasing an additional 65 shares during the period. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on RNR. Barclays lowered their target price on RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating for the company in a research note on Friday, April 11th. Keefe, Bruyette & Woods reduced their target price on shares of RenaissanceRe from $318.00 to $294.00 and set an "outperform" rating for the company in a research note on Tuesday, February 4th. JPMorgan Chase & Co. raised RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price target on the stock in a research note on Tuesday, April 8th. Morgan Stanley raised RenaissanceRe from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $235.00 to $275.00 in a research report on Friday. 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 research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $283.80.

RenaissanceRe Stock Performance

Shares of RenaissanceRe stock traded up $1.80 during trading on Monday, hitting $237.15. 92,162 shares of the stock were exchanged, compared to its average volume of 426,689. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19. The company has a fifty day moving average price of $237.66 and a 200-day moving average price of $252.00. The stock has a market capitalization of $11.62 billion, a price-to-earnings ratio of 6.76, a price-to-earnings-growth ratio of 2.09 and a beta of 0.29. RenaissanceRe Holdings Ltd. has a 1-year low of $208.98 and a 1-year 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) earnings per share (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 business had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.36 billion. As a group, equities analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

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

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.