Northern Trust Corp Has $139.29 Million Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Northern Trust Corp increased its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 8.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 559,805 shares of the insurance provider's stock after buying an additional 42,385 shares during the period. Northern Trust Corp owned about 1.08% of RenaissanceRe worth $139,285,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Aquatic Capital Management LLC acquired a new stake in shares of RenaissanceRe during the fourth quarter worth $2,205,000. Susquehanna Fundamental Investments LLC bought a new position in RenaissanceRe in the 4th quarter valued at about $11,973,000. Integrated Wealth Concepts LLC raised its holdings in RenaissanceRe by 19.9% during the fourth quarter. Integrated Wealth Concepts LLC now owns 14,630 shares of the insurance provider's stock worth $3,640,000 after purchasing an additional 2,430 shares in the last quarter. Beacon Investment Advisors LLC boosted its stake in RenaissanceRe by 7.7% during the fourth quarter. Beacon Investment Advisors LLC now owns 1,531 shares of the insurance provider's stock valued at $381,000 after buying an additional 110 shares in the last quarter. Finally, OneDigital Investment Advisors LLC acquired a new stake in RenaissanceRe during the fourth quarter valued at approximately $1,568,000. Institutional investors and hedge funds own 99.97% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on RNR shares. Wells Fargo & Company cut their target price 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. Morgan Stanley raised RenaissanceRe from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $235.00 to $275.00 in a research report on Friday, April 25th. JPMorgan Chase & Co. raised RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price target for the company in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods raised their target price on RenaissanceRe from $279.00 to $282.00 and gave the company an "outperform" rating in a report on Tuesday, April 29th. Finally, Bank of America lowered their target price on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating on the stock in a research note on Wednesday, March 26th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $282.60.

RenaissanceRe Price Performance

RenaissanceRe stock traded up $3.77 during mid-day trading on Thursday, hitting $251.91. 112,129 shares of the company were exchanged, compared to its average volume of 423,519. The company has a market capitalization of $12.26 billion, a PE ratio of 7.18, a price-to-earnings-growth ratio of 2.09 and a beta of 0.34. The business has a fifty day moving average of $239.54 and a 200 day moving average of $250.41. 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 1-year low of $208.98 and a 1-year high of $300.00.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced 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). The business had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.36 billion. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. RenaissanceRe's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $12.18 EPS. As a group, sell-side analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.64%. 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.