Barclays PLC Increases Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Barclays PLC boosted its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 339.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,767 shares of the insurance provider's stock after purchasing an additional 77,844 shares during the period. Barclays PLC owned about 0.19% of RenaissanceRe worth $25,072,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Boston Partners boosted its position in RenaissanceRe by 28.5% during the 4th quarter. Boston Partners now owns 2,013,382 shares of the insurance provider's stock valued at $500,991,000 after acquiring an additional 446,781 shares in the last quarter. Impax Asset Management Group plc boosted its holdings in shares of RenaissanceRe by 10.8% in the fourth quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider's stock valued at $466,969,000 after acquiring an additional 182,530 shares in the last quarter. Geode Capital Management LLC raised its stake in RenaissanceRe by 24.3% during the fourth 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. FIL Ltd grew its stake in shares of RenaissanceRe by 5.1% during the fourth quarter. FIL Ltd now owns 1,033,691 shares of the insurance provider's stock valued at $257,193,000 after acquiring an additional 49,804 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in RenaissanceRe by 13.0% in the fourth quarter. Invesco Ltd. now owns 821,111 shares of the insurance provider's stock valued at $204,301,000 after acquiring an additional 94,389 shares during the period. 99.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on RNR shares. Barclays cut their price target on RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating for the company in a research note on Friday, April 11th. 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. Morgan Stanley decreased their target price on RenaissanceRe from $265.00 to $245.00 and set an "equal weight" rating for the company in a research note on Friday, January 31st. Wells Fargo & Company dropped their target price on shares of RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Finally, JMP Securities reiterated a "market perform" rating on shares of RenaissanceRe in a report on Thursday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $280.80.

RenaissanceRe Trading Down 4.1 %

NYSE RNR traded down $9.94 during trading hours on Thursday, hitting $230.02. 350,345 shares of the company's stock were exchanged, compared to its average volume of 420,479. 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 Holdings Ltd. has a 1-year low of $208.98 and a 1-year high of $300.00. The stock has a 50-day simple moving average of $237.67 and a 200 day simple moving average of $252.70. The firm has a market cap of $11.27 billion, a price-to-earnings ratio of 6.57, a PEG ratio of 2.09 and a beta of 0.29.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced its earnings results 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 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%. On average, equities analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal 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 given a dividend of $0.40 per share. The ex-dividend date was Friday, March 14th. This is a positive change from RenaissanceRe's previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a yield of 0.70%. RenaissanceRe's payout ratio is 5.10%.

RenaissanceRe 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.