RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Bought by Jennison Associates LLC

Jennison Associates LLC lifted its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 22.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 533,127 shares of the insurance provider's stock after purchasing an additional 96,322 shares during the quarter. Jennison Associates LLC owned 1.04% of RenaissanceRe worth $104,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC raised its stake in shares of RenaissanceRe by 1.7% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 3,557 shares of the insurance provider's stock worth $704,000 after purchasing an additional 59 shares during the last quarter. Xponance Inc. increased its position in RenaissanceRe by 1.0% during the third quarter. Xponance Inc. now owns 7,590 shares of the insurance provider's stock valued at $1,502,000 after acquiring an additional 75 shares during the last quarter. Nordea Investment Management AB increased its position in RenaissanceRe by 0.5% during the third quarter. Nordea Investment Management AB now owns 16,652 shares of the insurance provider's stock valued at $3,352,000 after acquiring an additional 89 shares during the last quarter. Aviva PLC increased its position in RenaissanceRe by 5.8% during the third quarter. Aviva PLC now owns 1,790 shares of the insurance provider's stock valued at $354,000 after acquiring an additional 98 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its position in RenaissanceRe by 1.5% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 7,810 shares of the insurance provider's stock valued at $1,546,000 after acquiring an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 99.97% of the company's stock.

Insider Transactions at RenaissanceRe

In other news, EVP David E. Marra sold 750 shares of the company's stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $229.00, for a total value of $171,750.00. Following the completion of the transaction, the executive vice president now owns 79,699 shares of the company's stock, valued at $18,251,071. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Robert Qutub sold 2,500 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $234.56, for a total transaction of $586,400.00. Following the completion of the transaction, the chief financial officer now directly owns 70,424 shares of the company's stock, valued at $16,518,653.44. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP David E. Marra sold 750 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $229.00, for a total value of $171,750.00. Following the transaction, the executive vice president now directly owns 79,699 shares of the company's stock, valued at $18,251,071. The disclosure for this sale can be found here. Insiders sold a total of 4,130 shares of company stock valued at $958,429 over the last 90 days. Company insiders own 1.80% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on RNR shares. TD Cowen started coverage on RenaissanceRe in a research report on Wednesday, January 10th. They set a "market perform" rating for the company. UBS Group upped their price objective on RenaissanceRe from $229.00 to $238.00 and gave the company a "neutral" rating in a research report on Monday, February 5th. Evercore ISI upped their price objective on RenaissanceRe from $213.00 to $216.00 and gave the company an "underperform" rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. upped their price objective on RenaissanceRe from $204.00 to $237.00 and gave the company a "neutral" rating in a research report on Monday, April 8th. Finally, BMO Capital Markets upped their price target on RenaissanceRe from $216.00 to $295.00 and gave the stock an "outperform" rating in a research report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, RenaissanceRe has a consensus rating of "Hold" and a consensus target price of $247.89.

RenaissanceRe Stock Performance

RNR traded down $6.65 during midday trading on Tuesday, reaching $220.17. The company had a trading volume of 344,897 shares, compared to its average volume of 360,964. The company has a market cap of $11.61 billion, a P/E ratio of 4.43, a P/E/G ratio of 2.98 and a beta of 0.30. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.23. The business has a 50-day moving average of $227.57 and a two-hundred day moving average of $215.95. RenaissanceRe Holdings Ltd. has a 1 year low of $174.22 and a 1 year high of $239.42.

RenaissanceRe (NYSE:RNR - Get Free Report) last released its quarterly earnings data on Tuesday, January 30th. The insurance provider reported $11.77 earnings per share for the quarter, topping analysts' consensus estimates of $8.13 by $3.64. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.83 billion. RenaissanceRe had a return on equity of 26.93% and a net margin of 28.04%. The business's quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $7.33 earnings per share. As a group, equities research analysts predict that RenaissanceRe Holdings Ltd. will post 34.41 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.39 dividend. This is a positive change from RenaissanceRe's previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.71%. RenaissanceRe's dividend payout ratio is 3.05%.

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.