CANADA LIFE ASSURANCE Co Reduces Stock Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

CANADA LIFE ASSURANCE Co lowered its position in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 7.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,047 shares of the insurance provider's stock after selling 3,534 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.08% of RenaissanceRe worth $10,717,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC raised its position in shares of RenaissanceRe by 57.1% during the 3rd quarter. Barclays PLC now owns 22,923 shares of the insurance provider's stock worth $6,244,000 after acquiring an additional 8,333 shares in the last quarter. World Investment Advisors LLC acquired a new stake in RenaissanceRe during the third quarter worth approximately $16,176,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of RenaissanceRe during the 3rd quarter worth approximately $405,000. Tidal Investments LLC boosted its holdings in shares of RenaissanceRe by 2.6% in the 3rd quarter. Tidal Investments LLC now owns 9,236 shares of the insurance provider's stock valued at $2,516,000 after buying an additional 232 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of RenaissanceRe by 22.9% in the 4th quarter. GAMMA Investing LLC now owns 1,179 shares of the insurance provider's stock valued at $293,000 after buying an additional 220 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RNR. Bank of America decreased 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. JPMorgan Chase & Co. upgraded RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price target on the stock in a research note on Tuesday, April 8th. Barclays reduced their price objective on RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating for the company in a research note on Friday, April 11th. JMP Securities restated a "market perform" rating on shares of RenaissanceRe in a research report on Thursday. Finally, 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 research report on Friday. Two 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, RenaissanceRe presently has an average rating of "Hold" and an average target price of $283.80.

RenaissanceRe Stock Performance

Shares of RNR stock traded up $7.08 during trading hours on Friday, reaching $235.02. 1,074,167 shares of the company's stock were exchanged, compared to its average volume of 426,993. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42. RenaissanceRe Holdings Ltd. has a 1 year low of $208.98 and a 1 year high of $300.00. The company has a market cap of $11.52 billion, a P/E ratio of 6.71, a price-to-earnings-growth ratio of 2.09 and a beta of 0.29. The company's 50 day moving average is $237.66 and its two-hundred day moving average is $252.34.

RenaissanceRe (NYSE:RNR - Get Free Report) last released its earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) EPS for the quarter, missing analysts' consensus estimates of ($0.32) by ($1.17). RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. The business had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.36 billion. Equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS 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 given a dividend of $0.40 per share. This is a positive change from RenaissanceRe's previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Friday, March 14th. RenaissanceRe's dividend payout ratio is presently 5.10%.

RenaissanceRe Company 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.