Barclays PLC Buys 8,333 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Barclays PLC grew its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 57.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,923 shares of the insurance provider's stock after purchasing an additional 8,333 shares during the quarter. Barclays PLC's holdings in RenaissanceRe were worth $6,244,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of RNR. Blue Trust Inc. purchased a new position in RenaissanceRe during the second quarter worth about $27,000. New York State Teachers Retirement System increased its position in shares of RenaissanceRe by 0.7% during the second quarter. New York State Teachers Retirement System now owns 56,444 shares of the insurance provider's stock valued at $12,616,000 after acquiring an additional 371 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in RenaissanceRe by 1,323.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 3,075 shares of the insurance provider's stock worth $687,000 after acquiring an additional 2,859 shares during the period. HB Wealth Management LLC lifted its holdings in RenaissanceRe by 6.6% during the second quarter. HB Wealth Management LLC now owns 4,135 shares of the insurance provider's stock worth $924,000 after acquiring an additional 255 shares during the period. Finally, Whittier Trust Co. boosted its position in RenaissanceRe by 4.8% in the second quarter. Whittier Trust Co. now owns 23,709 shares of the insurance provider's stock worth $5,299,000 after purchasing an additional 1,095 shares during the last quarter. Hedge funds and other institutional investors own 99.97% of the company's stock.

Insider Buying and Selling at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the company's stock in a transaction on Friday, October 4th. The shares were sold at an average price of $279.00, for a total value of $279,000.00. Following the completion of the transaction, the executive vice president now directly owns 82,044 shares in the company, valued at approximately $22,890,276. The trade was a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company's stock.

RenaissanceRe Price Performance

RNR stock traded up $1.00 during mid-day trading on Friday, reaching $249.37. 1,216,161 shares of the company traded hands, compared to its average volume of 370,123. RenaissanceRe Holdings Ltd. has a 52-week low of $190.89 and a 52-week high of $300.00. The company has a market capitalization of $12.95 billion, a P/E ratio of 3.59, a P/E/G ratio of 1.31 and a beta of 0.41. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.43 and a quick ratio of 1.43. The company has a fifty day moving average price of $271.08 and a 200-day moving average price of $250.88.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted its earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.89 by $2.34. The business had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.35 billion. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The business's revenue for the quarter was up 52.1% compared to the same quarter last year. During the same period in the prior year, the company posted $8.33 EPS. As a group, analysts anticipate that RenaissanceRe Holdings Ltd. will post 41.94 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.63%. RenaissanceRe's dividend payout ratio is currently 2.25%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on RNR shares. Barclays assumed coverage on RenaissanceRe in a research note on Wednesday, September 4th. They set an "equal weight" rating and a $287.00 target price on the stock. StockNews.com cut shares of RenaissanceRe from a "buy" rating to a "hold" rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. raised their price target on shares of RenaissanceRe from $274.00 to $280.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Bank of America upped their price objective on RenaissanceRe from $364.00 to $391.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Finally, Evercore ISI raised their target price on RenaissanceRe from $229.00 to $246.00 and gave the stock an "underperform" rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $290.09.

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.