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

Northern Trust Corp raised its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 8.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Barclays PLC raised its holdings in shares of RenaissanceRe by 57.1% during the 3rd quarter. Barclays PLC now owns 22,923 shares of the insurance provider's stock valued at $6,244,000 after purchasing an additional 8,333 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in RenaissanceRe during the third quarter valued at about $405,000. Tidal Investments LLC lifted its position in shares of RenaissanceRe by 2.6% in the third quarter. Tidal Investments LLC now owns 9,236 shares of the insurance provider's stock worth $2,516,000 after buying an additional 232 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of RenaissanceRe by 22.9% in the fourth quarter. GAMMA Investing LLC now owns 1,179 shares of the insurance provider's stock worth $293,000 after buying an additional 220 shares during the last quarter. Finally, Everence Capital Management Inc. bought a new stake in shares of RenaissanceRe during the 4th quarter worth about $304,000. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RNR has been the subject of several analyst reports. Jefferies Financial Group reduced their target price on RenaissanceRe from $266.00 to $265.00 and set a "hold" rating for the company in a report on Friday, April 11th. JMP Securities reaffirmed a "market perform" rating on shares of RenaissanceRe in a report on Thursday, April 24th. Morgan Stanley upgraded shares of RenaissanceRe from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $235.00 to $275.00 in a report on Friday, April 25th. Wells Fargo & Company lowered their price target on RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Finally, Bank of America cut their price objective on RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a research report on Wednesday, March 26th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $282.60.

RenaissanceRe Stock Performance

RNR stock traded up $3.30 during trading on Monday, reaching $246.54. 312,666 shares of the stock were exchanged, compared to its average volume of 424,491. The stock has a 50 day simple moving average of $239.06 and a 200-day simple moving average of $250.45. 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 market capitalization of $11.99 billion, a P/E ratio of 7.04, a price-to-earnings-growth ratio of 2.09 and a beta of 0.34. 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 released 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). The firm had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.36 billion. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. The business's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $12.18 earnings per share. As a group, sell-side analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Increases Dividend

The firm also recently disclosed 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.65%. This is an increase from RenaissanceRe's previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, March 14th. RenaissanceRe's dividend payout ratio (DPR) is presently 5.10%.

RenaissanceRe Company 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.