Dimensional Fund Advisors LP Increases Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Dimensional Fund Advisors LP grew its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 3.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 662,150 shares of the insurance provider's stock after buying an additional 21,287 shares during the period. Dimensional Fund Advisors LP owned 1.27% of RenaissanceRe worth $164,752,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd purchased a new position in RenaissanceRe during the fourth quarter valued at approximately $27,000. SBI Securities Co. Ltd. bought a new stake in shares of RenaissanceRe during the 4th quarter valued at $29,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of RenaissanceRe by 51.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider's stock valued at $30,000 after buying an additional 41 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in RenaissanceRe by 1,587.5% in the 4th quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock worth $34,000 after buying an additional 127 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in RenaissanceRe by 71.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock worth $39,000 after buying an additional 65 shares in the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on RNR shares. JMP Securities restated a "market perform" rating on shares of RenaissanceRe in a research report on Thursday. Bank of America dropped their price target on RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a research note on Wednesday, March 26th. Jefferies Financial Group reduced their price objective on shares of RenaissanceRe from $266.00 to $265.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. 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, Keefe, Bruyette & Woods reduced their price target on shares of RenaissanceRe from $318.00 to $294.00 and set an "outperform" rating on the stock in a report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $283.80.

RenaissanceRe Price Performance

Shares of NYSE RNR traded up $2.91 during mid-day trading on Monday, hitting $238.26. 270,711 shares of the company's stock traded hands, compared to its average volume of 541,550. 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's 50-day moving average is $237.66 and its two-hundred day moving average is $252.00. The company has a market capitalization of $11.68 billion, a P/E ratio of 6.80, a PEG ratio of 2.09 and a beta of 0.29.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.32) by ($1.17). The company had revenue of $3.44 billion for 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%. The company's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the company earned $12.18 earnings per share. On average, equities analysts anticipate 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. Shareholders of record on Friday, March 14th were given a dividend of $0.40 per share. This is a boost from RenaissanceRe's previous quarterly dividend of $0.39. The ex-dividend date was Friday, March 14th. This represents a $1.60 dividend on an annualized basis and a yield of 0.67%. RenaissanceRe's payout ratio is 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.