RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Bought by FIL Ltd

FIL Ltd raised its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 5.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,033,691 shares of the insurance provider's stock after purchasing an additional 49,804 shares during the period. FIL Ltd owned 1.99% of RenaissanceRe worth $257,193,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB increased its holdings in RenaissanceRe by 51.3% during the fourth 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 during the last quarter. UMB Bank n.a. boosted its stake in RenaissanceRe by 40.0% during the fourth quarter. UMB Bank n.a. now owns 175 shares of the insurance provider's stock valued at $44,000 after buying an additional 50 shares during the last quarter. Lifestyle Asset Management Inc. raised its stake in RenaissanceRe by 1.1% during the fourth quarter. Lifestyle Asset Management Inc. now owns 4,645 shares of the insurance provider's stock valued at $1,156,000 after purchasing an additional 52 shares in the last quarter. AMG National Trust Bank increased its holdings in shares of RenaissanceRe by 1.3% in the 4th quarter. AMG National Trust Bank now owns 4,688 shares of the insurance provider's stock worth $1,166,000 after buying an additional 59 shares during the last quarter. Finally, Principal Securities Inc. increased its stake in RenaissanceRe by 11.9% during the fourth quarter. Principal Securities Inc. now owns 565 shares of the insurance provider's stock worth $141,000 after acquiring an additional 60 shares during the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

RenaissanceRe Stock Up 2.5 %

NYSE RNR traded up $5.87 during midday trading on Friday, hitting $237.92. 524,254 shares of the company traded hands, compared to its average volume of 417,714. The company has a market cap of $11.66 billion, a PE ratio of 6.79, a price-to-earnings-growth ratio of 2.09 and a beta of 0.29. 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 52 week low of $208.98 and a 52 week high of $300.00. The company's 50-day simple moving average is $236.93 and its 200-day simple moving average is $254.34.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced its earnings results on Tuesday, January 28th. The insurance provider reported $8.06 EPS for the quarter, topping 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, equities research analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.40 dividend. 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 0.67%. The ex-dividend date of this dividend was Friday, March 14th. RenaissanceRe's payout ratio is currently 4.57%.

Insider Activity

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the 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 completion of the sale, the executive vice president now directly owns 79,392 shares in the company, valued at approximately $20,178,270.72. This trade represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Bank of America dropped their target price on RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a report on Wednesday, March 26th. Barclays lowered their target price on shares of RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating for the company in a report on Friday. JPMorgan Chase & Co. raised shares of RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price objective on the stock in a research report on Tuesday, April 8th. JMP Securities reaffirmed a "market perform" rating on shares of RenaissanceRe in a research note on Thursday, January 30th. Finally, Keefe, Bruyette & Woods decreased their target price on RenaissanceRe from $318.00 to $294.00 and set an "outperform" rating for the company in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $280.80.

RenaissanceRe 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.