Polar Capital Holdings Plc Increases Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Polar Capital Holdings Plc raised its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 5.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,298,190 shares of the insurance provider's stock after buying an additional 69,884 shares during the period. RenaissanceRe accounts for about 1.8% of Polar Capital Holdings Plc's portfolio, making the stock its 9th largest holding. Polar Capital Holdings Plc owned about 2.50% of RenaissanceRe worth $323,003,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RNR. Capital World Investors lifted its stake in RenaissanceRe by 8.8% in the 4th quarter. Capital World Investors now owns 2,882,835 shares of the insurance provider's stock valued at $717,278,000 after purchasing an additional 233,708 shares during the last quarter. Boston Partners lifted its position in shares of RenaissanceRe by 28.5% in the fourth quarter. Boston Partners now owns 2,013,382 shares of the insurance provider's stock valued at $500,991,000 after buying an additional 446,781 shares during the last quarter. Impax Asset Management Group plc boosted its stake in shares of RenaissanceRe by 10.8% during the 4th quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider's stock worth $466,969,000 after acquiring an additional 182,530 shares during the period. Geode Capital Management LLC increased its holdings in shares of RenaissanceRe by 24.3% during the 4th quarter. Geode Capital Management LLC now owns 1,144,805 shares of the insurance provider's stock worth $284,907,000 after acquiring an additional 223,991 shares during the last quarter. Finally, FIL Ltd increased its holdings in shares of RenaissanceRe by 5.1% during the 4th quarter. FIL Ltd now owns 1,033,691 shares of the insurance provider's stock worth $257,193,000 after acquiring an additional 49,804 shares during the last quarter. 99.97% of the stock is owned by institutional investors.

RenaissanceRe Stock Down 1.3%

Shares of NYSE RNR opened at $240.21 on Thursday. The company has a 50 day simple moving average of $239.89 and a 200 day simple moving average of $249.47. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42. RenaissanceRe Holdings Ltd. has a 1 year low of $208.98 and a 1 year high of $300.00. The firm has a market cap of $11.69 billion, a PE ratio of 6.86, a price-to-earnings-growth ratio of 2.09 and a beta of 0.34.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) EPS for the quarter, missing analysts' consensus estimates of ($0.32) by ($1.17). The business had revenue of $3.44 billion for the quarter, compared to analyst estimates 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 last year, the firm posted $12.18 EPS. On average, research analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.40 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.67%. RenaissanceRe's payout ratio is 5.10%.

Insider Transactions at RenaissanceRe

In related news, CAO James Christopher Fraser sold 332 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $249.54, for a total value of $82,847.28. Following the transaction, the chief accounting officer now owns 27,154 shares in the company, valued at $6,776,009.16. The trade was a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

RNR has been the topic of several research reports. JPMorgan Chase & Co. upgraded shares of RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price objective on the stock in a report on Tuesday, April 8th. Jefferies Financial Group decreased their price target on shares of RenaissanceRe from $266.00 to $265.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Barclays reduced their price objective on RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating for the company in a report on Friday, April 11th. Morgan Stanley raised RenaissanceRe from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $235.00 to $275.00 in a report on Friday, April 25th. Finally, Wells Fargo & Company lowered their price objective on RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $282.60.

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.

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