RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Earnest Partners LLC

Earnest Partners LLC lessened its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 2.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 578,702 shares of the insurance provider's stock after selling 16,057 shares during the quarter. Earnest Partners LLC owned approximately 1.11% of RenaissanceRe worth $143,987,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Aster Capital Management DIFC Ltd purchased a new position in shares of RenaissanceRe during the 4th quarter worth approximately $27,000. SBI Securities Co. Ltd. purchased a new position in RenaissanceRe during the fourth quarter worth $29,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of RenaissanceRe by 51.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider's stock worth $30,000 after acquiring an additional 41 shares during the last quarter. Jones Financial Companies Lllp lifted its position in shares of RenaissanceRe by 1,587.5% in the fourth 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 in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of RenaissanceRe by 71.4% during the fourth 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 currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RNR shares. JPMorgan Chase & Co. upgraded 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. Wells Fargo & Company lowered their price target on RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Barclays cut their price objective on shares of RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating on the stock in a report on Friday, April 11th. Keefe, Bruyette & Woods upped 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. Finally, Jefferies Financial Group lowered their price target on RenaissanceRe from $266.00 to $265.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $282.60.

RenaissanceRe Stock Performance

Shares of NYSE:RNR traded down $4.65 on Thursday, reaching $237.28. 376,701 shares of the company's stock were exchanged, compared to its average volume of 427,398. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. RenaissanceRe Holdings Ltd. has a fifty-two week low of $208.98 and a fifty-two week high of $300.00. The business's 50-day moving average is $238.37 and its two-hundred day moving average is $251.60. The firm has a market capitalization of $11.63 billion, a price-to-earnings ratio of 6.78, a PEG ratio of 2.09 and a beta of 0.29.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) EPS for the quarter, missing the consensus estimate of ($0.32) by ($1.17). The company had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.36 billion. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the company posted $12.18 earnings per share. As a group, equities research analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.67%. This is a positive change from RenaissanceRe's previous quarterly dividend of $0.39. The ex-dividend date was Friday, March 14th. RenaissanceRe's payout ratio is presently 5.10%.

RenaissanceRe Company 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.