RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Soros Fund Management LLC

Soros Fund Management LLC lowered its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 56.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,110 shares of the insurance provider's stock after selling 41,920 shares during the quarter. Soros Fund Management LLC owned approximately 0.06% of RenaissanceRe worth $7,989,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Aster Capital Management DIFC Ltd acquired a new position in RenaissanceRe in the 4th quarter valued at $27,000. SBI Securities Co. Ltd. acquired a new stake in shares of RenaissanceRe in the fourth quarter valued at about $29,000. MassMutual Private Wealth & Trust FSB lifted its stake 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 buying an additional 41 shares in the last quarter. Jones Financial Companies Lllp lifted its stake 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 worth $34,000 after buying an additional 127 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in RenaissanceRe by 71.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock worth $39,000 after acquiring an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 99.97% of the company's stock.

Analyst Upgrades and Downgrades

RNR has been the topic of a number of research reports. JPMorgan Chase & Co. raised shares of RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 target price on the stock in a research note on Tuesday, April 8th. Barclays lowered their price objective on RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating on the stock in a research note on Friday, April 11th. Keefe, Bruyette & Woods raised their target price on RenaissanceRe from $279.00 to $282.00 and gave the stock an "outperform" rating in a research note on Tuesday. Wells Fargo & Company lowered 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, Bank of America cut their price objective on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a research report on Wednesday, March 26th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $282.60.

RenaissanceRe Trading Up 2.5 %

NYSE RNR traded up $5.85 during trading hours on Friday, reaching $243.05. The company had a trading volume of 429,140 shares, compared to its average volume of 424,740. RenaissanceRe Holdings Ltd. has a 1-year low of $208.98 and a 1-year high of $300.00. The stock has a market capitalization of $11.91 billion, a P/E ratio of 6.94, a price-to-earnings-growth ratio of 2.09 and a beta of 0.29. The stock has a 50-day moving average of $238.55 and a 200 day moving average of $251.32. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share for the quarter, missing analysts' consensus estimates of ($0.32) by ($1.17). The company had revenue of $3.44 billion for the quarter, compared to analysts' expectations 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 previous year, the business posted $12.18 EPS. As a group, research analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Friday, March 14th. This is an increase from RenaissanceRe's previous quarterly dividend of $0.39. RenaissanceRe's payout ratio is currently 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.