Blueshift Asset Management LLC Buys New Shares in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Blueshift Asset Management LLC purchased a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,203 shares of the insurance provider's stock, valued at approximately $299,000.

Several other hedge funds have also made changes to their positions in the company. Impax Asset Management Group plc lifted 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 purchasing an additional 182,530 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in RenaissanceRe during the third quarter valued at $3,684,000. Fisher Asset Management LLC lifted its stake in RenaissanceRe by 12.3% in the 3rd quarter. Fisher Asset Management LLC now owns 80,773 shares of the insurance provider's stock worth $22,003,000 after acquiring an additional 8,844 shares in the last quarter. Geode Capital Management LLC boosted its position in RenaissanceRe by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider's stock worth $250,892,000 after acquiring an additional 25,773 shares during the period. Finally, Citigroup Inc. grew its stake in RenaissanceRe by 367.4% during the 3rd quarter. Citigroup Inc. now owns 30,476 shares of the insurance provider's stock valued at $8,302,000 after acquiring an additional 23,956 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company's stock.

RenaissanceRe Stock Up 2.1 %

Shares of RNR traded up $4.91 during trading hours on Wednesday, hitting $244.03. 411,023 shares of the company were exchanged, compared to its average volume of 393,235. The firm's 50 day moving average is $240.51 and its 200-day moving average is $256.79. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42. RenaissanceRe Holdings Ltd. has a 52 week low of $208.98 and a 52 week high of $300.00. The company has a market cap of $12.02 billion, a PE ratio of 6.97, a PEG ratio of 2.09 and a beta of 0.38.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced its earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) for the quarter, topping 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 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 will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.40 dividend. The ex-dividend date is 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 0.66%. RenaissanceRe's dividend payout ratio (DPR) is presently 4.57%.

Analyst Upgrades and Downgrades

Several analysts recently commented on RNR shares. Keefe, Bruyette & Woods decreased their price target on shares of RenaissanceRe from $318.00 to $294.00 and set an "outperform" rating for the company in a report on Tuesday, February 4th. JPMorgan Chase & Co. increased their target price on shares of RenaissanceRe from $280.00 to $284.00 and gave the stock a "neutral" rating in a research report on Friday, January 3rd. Bank of America lowered their price target on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating on the stock in a report on Wednesday. Wells Fargo & Company dropped their price target on shares of RenaissanceRe from $288.00 to $277.00 and set an "overweight" rating on the stock in a research note on Thursday, January 30th. Finally, JMP Securities reissued a "market perform" rating on shares of RenaissanceRe in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, RenaissanceRe presently has a consensus rating of "Hold" and a consensus price target of $283.40.

Insiders Place Their Bets

In other news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total value of $254,160.00. Following the transaction, the executive vice president now directly owns 79,392 shares in the company, valued at approximately $20,178,270.72. The trade was a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.30% of the company's stock.

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.