Farringdon Capital Ltd. Purchases Shares of 1,517 RenaissanceRe Holdings Ltd. (NYSE:RNR)

Farringdon Capital Ltd. acquired a new position in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,517 shares of the insurance provider's stock, valued at approximately $377,000.

Several other hedge funds also recently modified their holdings of the stock. Impax Asset Management Group plc grew its stake in shares of RenaissanceRe by 10.8% in the 4th quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider's stock worth $466,969,000 after acquiring an additional 182,530 shares in the last quarter. World Investment Advisors LLC purchased a new position in shares of RenaissanceRe in the 3rd quarter worth approximately $16,176,000. Trexquant Investment LP bought a new position in shares of RenaissanceRe in the fourth quarter valued at approximately $561,000. Barclays PLC lifted its holdings in RenaissanceRe by 57.1% during the third 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 during the period. Finally, Franklin Resources Inc. purchased a new position in RenaissanceRe in the fourth quarter worth $1,086,000. Hedge funds and other institutional investors own 99.97% of the company's stock.

Analyst Upgrades and Downgrades

RNR has been the topic of several research analyst reports. Bank of America dropped their price objective on RenaissanceRe from $437.00 to $426.00 and set a "buy" rating on the stock in a research note on Wednesday, March 26th. Jefferies Financial Group dropped their price target on shares of RenaissanceRe from $266.00 to $265.00 and set a "hold" rating on the stock 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, January 30th. Keefe, Bruyette & Woods decreased their price objective on RenaissanceRe from $318.00 to $294.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company cut their target price on RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $280.80.

RenaissanceRe Trading Up 3.3 %

Shares of RNR traded up $7.79 during mid-day trading on Tuesday, reaching $242.61. The company's stock had a trading volume of 237,635 shares, compared to its average volume of 529,701. 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 52 week low of $208.98 and a 52 week high of $300.00. The company's fifty day moving average price is $237.30 and its two-hundred day moving average price is $252.85. The stock has a market cap of $11.89 billion, a PE ratio of 6.92, a P/E/G ratio of 2.09 and a beta of 0.29.

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

RenaissanceRe Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued 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 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend was Friday, March 14th. RenaissanceRe's dividend payout ratio is currently 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.