Soros Fund Management LLC Decreases Stock Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Soros Fund Management LLC cut its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 56.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,110 shares of the insurance provider's stock after selling 41,920 shares during the quarter. Soros Fund Management LLC owned 0.06% of RenaissanceRe worth $7,989,000 at the end of the most recent quarter.

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

RenaissanceRe Stock Up 2.5 %

Shares of NYSE RNR traded up $5.85 during midday trading on Friday, reaching $243.05. 429,140 shares of the company's stock traded hands, compared to its average volume of 424,940. The company has a market cap of $11.82 billion, a price-to-earnings ratio of 6.94, a P/E/G ratio of 2.09 and a beta of 0.34. The stock's 50 day simple moving average is $238.75 and its 200-day simple moving average is $250.93. 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 one year low of $208.98 and a one year high of $300.00.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.32) by ($1.17). The company had revenue of $3.44 billion during the quarter, compared to analysts' expectations of $3.36 billion. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. The company's revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $12.18 earnings per share. On average, analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.66%. This is a positive change from RenaissanceRe's previous quarterly dividend of $0.39. The ex-dividend date was Friday, March 14th. RenaissanceRe's dividend payout ratio is presently 5.10%.

Analyst Upgrades and Downgrades

RNR has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised shares of RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price objective for the company in a research note on Tuesday, April 8th. Morgan Stanley upgraded shares of RenaissanceRe from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $235.00 to $275.00 in a report on Friday, April 25th. Jefferies Financial Group decreased their price objective on shares of RenaissanceRe from $266.00 to $265.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Wells Fargo & Company cut their target price on RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Finally, Barclays cut their price target 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. Two equities research 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 MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $282.60.

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.