Capital World Investors Boosts Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Capital World Investors boosted its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 8.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,882,835 shares of the insurance provider's stock after buying an additional 233,708 shares during the quarter. Capital World Investors owned 5.55% of RenaissanceRe worth $717,278,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Aster Capital Management DIFC Ltd purchased a new stake in RenaissanceRe during the 4th quarter worth about $27,000. SBI Securities Co. Ltd. acquired a new stake in RenaissanceRe in the fourth quarter valued at approximately $29,000. MassMutual Private Wealth & Trust FSB lifted its stake in RenaissanceRe by 51.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider's stock worth $30,000 after acquiring an additional 41 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in RenaissanceRe by 1,587.5% during the 4th quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock worth $34,000 after acquiring an additional 127 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of RenaissanceRe by 71.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock valued at $39,000 after purchasing an additional 65 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company's stock.

Analyst Ratings Changes

RNR has been the subject of a number of analyst reports. JPMorgan Chase & Co. upgraded shares of RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 target price for the company in a research note on Tuesday, April 8th. Wells Fargo & Company dropped their target price on shares of RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Morgan Stanley reduced their target price on RenaissanceRe from $265.00 to $245.00 and set an "equal weight" rating for the company in a report on Friday, January 31st. Keefe, Bruyette & Woods cut their price target on RenaissanceRe from $318.00 to $294.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 4th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of RenaissanceRe in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $280.80.

RenaissanceRe Trading Up 1.4 %

Shares of RNR stock opened at $241.09 on Friday. RenaissanceRe Holdings Ltd. has a 1-year low of $208.98 and a 1-year high of $300.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42. The business's fifty day moving average price is $237.23 and its 200 day moving average price is $253.31. The firm has a market capitalization of $11.81 billion, a PE ratio of 6.88, a P/E/G ratio of 2.09 and a beta of 0.29.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.94 by $1.12. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. As a group, sell-side analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.40 dividend. This is an increase from RenaissanceRe's previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Friday, March 14th. RenaissanceRe's dividend payout ratio (DPR) is presently 4.57%.

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.

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