Great Lakes Advisors LLC Has $48.61 Million Stock Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Great Lakes Advisors LLC decreased its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 24.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 248,025 shares of the insurance provider's stock after selling 79,260 shares during the quarter. Great Lakes Advisors LLC owned 0.48% of RenaissanceRe worth $48,613,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Fiera Capital Corp grew its holdings in RenaissanceRe by 637.3% during the 4th quarter. Fiera Capital Corp now owns 199,166 shares of the insurance provider's stock valued at $39,037,000 after buying an additional 172,154 shares during the last quarter. Beacon Pointe Advisors LLC increased its position in RenaissanceRe by 30.7% during the 4th quarter. Beacon Pointe Advisors LLC now owns 6,102 shares of the insurance provider's stock worth $1,196,000 after purchasing an additional 1,435 shares in the last quarter. Quadrant Capital Group LLC raised its stake in RenaissanceRe by 15.4% in the 4th quarter. Quadrant Capital Group LLC now owns 1,315 shares of the insurance provider's stock valued at $258,000 after purchasing an additional 175 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in RenaissanceRe by 32.4% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 4,709 shares of the insurance provider's stock valued at $923,000 after purchasing an additional 1,152 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in RenaissanceRe by 2.0% in the 4th quarter. Principal Financial Group Inc. now owns 193,146 shares of the insurance provider's stock valued at $37,857,000 after purchasing an additional 3,797 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on RNR. Evercore ISI upped their price objective on shares of RenaissanceRe from $216.00 to $218.00 and gave the company an "underperform" rating in a research note on Wednesday, May 1st. BMO Capital Markets raised their price objective on RenaissanceRe from $216.00 to $295.00 and gave the stock an "outperform" rating in a report on Monday, February 5th. UBS Group upped their target price on RenaissanceRe from $229.00 to $238.00 and gave the company a "neutral" rating in a research note on Monday, February 5th. Finally, JPMorgan Chase & Co. lifted their price target on RenaissanceRe from $237.00 to $245.00 and gave the company a "neutral" rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $249.00.

RenaissanceRe Trading Up 1.1 %

RNR traded up $2.58 on Friday, reaching $229.43. 178,832 shares of the company's stock were exchanged, compared to its average volume of 334,508. RenaissanceRe Holdings Ltd. has a twelve month low of $174.22 and a twelve month high of $239.42. The company's 50 day moving average is $226.21 and its 200-day moving average is $216.95. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.41 and a current ratio of 1.41. The company has a market cap of $12.13 billion, a price-to-earnings ratio of 5.07, a PEG ratio of 1.95 and a beta of 0.31.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its earnings results on Tuesday, April 30th. The insurance provider reported $12.18 EPS for the quarter, beating analysts' consensus estimates of $9.86 by $2.32. RenaissanceRe had a net margin of 24.79% and a return on equity of 27.09%. The business had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter last year, the firm posted $8.16 EPS. The business's revenue for the quarter was up 41.3% compared to the same quarter last year. Equities analysts predict that RenaissanceRe Holdings Ltd. will post 36.72 earnings per share for the current year.

RenaissanceRe Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend is Friday, June 14th. RenaissanceRe's payout ratio is 3.45%.

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.