ProShare Advisors LLC Has $30.95 Million Stock Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

ProShare Advisors LLC trimmed its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 13.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 124,396 shares of the insurance provider's stock after selling 19,342 shares during the period. ProShare Advisors LLC owned approximately 0.24% of RenaissanceRe worth $30,951,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new position in RenaissanceRe during the 4th quarter valued at $27,000. SBI Securities Co. Ltd. bought a new position in RenaissanceRe during the 4th quarter valued at $29,000. MassMutual Private Wealth & Trust FSB boosted its stake in RenaissanceRe by 51.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider's stock valued at $30,000 after acquiring an additional 41 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in RenaissanceRe by 1,587.5% during the 4th quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock valued at $34,000 after acquiring an additional 127 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in RenaissanceRe by 71.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock valued at $39,000 after acquiring an additional 65 shares during the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

RenaissanceRe Price Performance

RenaissanceRe stock traded down $4.86 during trading hours on Thursday, hitting $239.46. 72,868 shares of the company traded hands, compared to its average volume of 428,434. The firm has a market cap of $11.65 billion, a P/E ratio of 6.84, a P/E/G ratio of 2.09 and a beta of 0.34. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. The firm's 50-day simple moving average is $240.60 and its two-hundred day simple moving average is $248.76. RenaissanceRe Holdings Ltd. has a 1-year low of $208.98 and a 1-year high of $300.00.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($1.17). The business had revenue of $3.44 billion during 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%. The business's revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm earned $12.18 EPS. As a group, analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have commented on the stock. 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 research note on Tuesday, April 8th. Keefe, Bruyette & Woods raised their price target on shares of RenaissanceRe from $279.00 to $282.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. JMP Securities restated a "market perform" rating on shares of RenaissanceRe in a research report on Thursday, April 24th. Wells Fargo & Company reduced their price target on shares of RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Finally, Morgan Stanley raised their price target on shares of RenaissanceRe from $275.00 to $285.00 and gave the stock an "overweight" rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, RenaissanceRe presently has an average rating of "Hold" and an average price target of $283.60.

Insiders Place Their Bets

In other RenaissanceRe news, CAO James Christopher Fraser sold 332 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $249.54, for a total value of $82,847.28. Following the completion of the transaction, the chief accounting officer now directly owns 27,154 shares in the company, valued at $6,776,009.16. This trade represents a 1.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.30% of the company's stock.

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.