American Century Companies Inc. Has $20 Million Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

American Century Companies Inc. increased its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 19.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 80,369 shares of the insurance provider's stock after purchasing an additional 12,979 shares during the period. American Century Companies Inc. owned approximately 0.15% of RenaissanceRe worth $19,997,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in RNR. Boston Partners lifted its holdings in shares of RenaissanceRe by 28.5% during the fourth quarter. Boston Partners now owns 2,013,382 shares of the insurance provider's stock worth $500,991,000 after buying an additional 446,781 shares during the last quarter. Impax Asset Management Group plc grew its position in 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 worth $466,969,000 after purchasing an additional 182,530 shares during the last quarter. Geode Capital Management LLC raised its position in shares of RenaissanceRe by 2.9% during the third quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider's stock valued at $250,892,000 after buying an additional 25,773 shares during the last quarter. Davis Selected Advisers lifted its stake in shares of RenaissanceRe by 0.8% in the fourth quarter. Davis Selected Advisers now owns 142,313 shares of the insurance provider's stock valued at $35,409,000 after buying an additional 1,099 shares during the period. Finally, Nepsis Inc. grew its position in RenaissanceRe by 32.9% during the fourth quarter. Nepsis Inc. now owns 128,983 shares of the insurance provider's stock worth $32,092,000 after buying an additional 31,915 shares in the last quarter. Institutional investors own 99.97% of the company's stock.

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RenaissanceRe Price Performance

NYSE RNR traded up $3.48 during trading hours on Wednesday, reaching $248.48. 316,071 shares of the company's stock were exchanged, compared to its average volume of 540,133. The firm has a fifty day moving average of $239.17 and a 200-day moving average of $256.34. RenaissanceRe Holdings Ltd. has a one year low of $208.98 and a one year high of $300.00. The stock has a market cap of $12.18 billion, a PE ratio of 7.10, a price-to-earnings-growth ratio of 2.09 and a beta of 0.38. 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 announced its earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share for the quarter, beating analysts' consensus estimates of $6.94 by $1.12. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. On average, equities research analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from RenaissanceRe's previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.64%. RenaissanceRe's payout ratio is currently 4.57%.

Insider Activity

In other news, EVP David E. Marra sold 1,000 shares of the company's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total transaction of $254,160.00. Following the transaction, the executive vice president now owns 79,392 shares of the company's stock, valued at $20,178,270.72. This represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.30% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on RNR shares. JPMorgan Chase & Co. raised their price objective on RenaissanceRe from $280.00 to $284.00 and gave the stock a "neutral" rating in a research report on Friday, January 3rd. Barclays downgraded shares of RenaissanceRe from an "equal weight" rating to an "underweight" rating and decreased their price target for the stock from $284.00 to $234.00 in a research note on Monday, January 6th. Bank of America dropped their price objective on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a research note on Wednesday, March 26th. Jefferies Financial Group reiterated a "hold" rating and set a $282.00 target price (down from $304.00) on shares of RenaissanceRe in a research report on Wednesday, December 18th. Finally, JMP Securities reissued a "market perform" rating on shares of RenaissanceRe in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, RenaissanceRe currently has a consensus rating of "Hold" and an average target price of $283.40.

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.