Zweig DiMenna Associates LLC Lowers Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Zweig DiMenna Associates LLC lessened its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 23.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 98,478 shares of the insurance provider's stock after selling 29,982 shares during the period. RenaissanceRe comprises 2.2% of Zweig DiMenna Associates LLC's holdings, making the stock its 11th biggest holding. Zweig DiMenna Associates LLC owned approximately 0.19% of RenaissanceRe worth $19,302,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. grew its holdings in shares of RenaissanceRe by 8.1% during the first quarter. American Century Companies Inc. now owns 14,404 shares of the insurance provider's stock worth $2,283,000 after purchasing an additional 1,083 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of RenaissanceRe by 7.1% during the first quarter. Bank of Montreal Can now owns 15,536 shares of the insurance provider's stock worth $2,461,000 after purchasing an additional 1,025 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of RenaissanceRe by 5.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,119 shares of the insurance provider's stock worth $2,555,000 after purchasing an additional 861 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of RenaissanceRe by 5.1% during the first quarter. Great West Life Assurance Co. Can now owns 24,034 shares of the insurance provider's stock worth $3,914,000 after purchasing an additional 1,163 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of RenaissanceRe by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 679,383 shares of the insurance provider's stock worth $107,689,000 after acquiring an additional 15,215 shares during the period. Institutional investors own 99.97% of the company's stock.

RenaissanceRe Stock Down 0.5 %

Shares of NYSE:RNR traded down $1.23 during trading on Friday, reaching $222.89. 377,613 shares of the stock were exchanged, compared to its average volume of 288,492. The stock has a fifty day moving average of $228.72 and a two-hundred day moving average of $214.50. RenaissanceRe Holdings Ltd. has a 1-year low of $174.22 and a 1-year high of $239.42. The firm has a market cap of $11.75 billion, a price-to-earnings ratio of 4.35, a price-to-earnings-growth ratio of 2.48 and a beta of 0.30. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.40 and a quick ratio of 1.40.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced its quarterly earnings results on Tuesday, January 30th. The insurance provider reported $11.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.13 by $3.64. RenaissanceRe had a return on equity of 26.93% and a net margin of 28.04%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the prior year, the company posted $7.33 earnings per share. RenaissanceRe's revenue was up 17.9% compared to the same quarter last year. Research analysts anticipate that RenaissanceRe Holdings Ltd. will post 34.46 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.39 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.56 annualized dividend and a yield of 0.70%. This is an increase from RenaissanceRe's previous quarterly dividend of $0.38. RenaissanceRe's dividend payout ratio is 3.05%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. BMO Capital Markets lifted their price objective on RenaissanceRe from $216.00 to $295.00 and gave the stock an "outperform" rating in a research note on Monday, February 5th. UBS Group lifted their price objective on RenaissanceRe from $229.00 to $238.00 and gave the stock a "neutral" rating in a research note on Monday, February 5th. Evercore ISI assumed coverage on RenaissanceRe in a research note on Thursday, December 14th. They issued an "underperform" rating and a $200.00 price objective on the stock. Finally, TD Cowen assumed coverage on RenaissanceRe in a research note on Wednesday, January 10th. They issued a "market perform" rating on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $247.25.

Insider Buying and Selling

In other RenaissanceRe news, Director Carol P. Sanders sold 880 shares of the company's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $227.59, for a total value of $200,279.20. Following the completion of the transaction, the director now owns 5,363 shares in the company, valued at approximately $1,220,565.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the company's stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $209.05, for a total value of $209,050.00. Following the completion of the transaction, the executive vice president now owns 80,449 shares in the company, valued at approximately $16,817,863.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carol P. Sanders sold 880 shares of the company's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $227.59, for a total value of $200,279.20. Following the completion of the transaction, the director now owns 5,363 shares of the company's stock, valued at approximately $1,220,565.17. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,130 shares of company stock worth $1,167,479. 1.30% of the stock is owned by corporate insiders.

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.