Geode Capital Management LLC Has $250.89 Million Stock Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Geode Capital Management LLC boosted its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 2.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 920,814 shares of the insurance provider's stock after purchasing an additional 25,773 shares during the period. Geode Capital Management LLC owned 1.77% of RenaissanceRe worth $250,892,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of RNR. M&T Bank Corp increased its stake in shares of RenaissanceRe by 4.4% in the third quarter. M&T Bank Corp now owns 4,516 shares of the insurance provider's stock valued at $1,230,000 after buying an additional 190 shares in the last quarter. Barclays PLC grew its holdings in 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 during the last quarter. LRI Investments LLC increased its position in RenaissanceRe by 668.8% in the 3rd quarter. LRI Investments LLC now owns 246 shares of the insurance provider's stock valued at $63,000 after acquiring an additional 214 shares in the last quarter. MML Investors Services LLC raised its stake in shares of RenaissanceRe by 4.7% in the third quarter. MML Investors Services LLC now owns 9,532 shares of the insurance provider's stock worth $2,596,000 after acquiring an additional 429 shares during the last quarter. Finally, Stansberry Asset Management LLC lifted its position in shares of RenaissanceRe by 2.9% during the third quarter. Stansberry Asset Management LLC now owns 28,821 shares of the insurance provider's stock worth $7,851,000 after purchasing an additional 814 shares in the last quarter. Institutional investors own 99.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RNR. Jefferies Financial Group raised their price target on shares of RenaissanceRe from $270.00 to $314.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Bank of America lifted their target price on RenaissanceRe from $364.00 to $391.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Citigroup boosted their target price on RenaissanceRe from $262.00 to $298.00 and gave the stock a "buy" rating in a research report on Tuesday, September 10th. Evercore ISI raised their price target on RenaissanceRe from $229.00 to $246.00 and gave the company an "underperform" rating in a report on Thursday, November 7th. Finally, StockNews.com lowered RenaissanceRe from a "buy" rating to a "hold" rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, RenaissanceRe presently has a consensus rating of "Hold" and a consensus target price of $293.00.

Insider Buying and Selling at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the company's stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $279.00, for a total value of $279,000.00. Following the completion of the transaction, the executive vice president now owns 82,044 shares in the company, valued at $22,890,276. This represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.30% of the company's stock.

RenaissanceRe Trading Down 0.0 %

Shares of RNR stock traded down $0.08 on Friday, reaching $267.76. The company had a trading volume of 348,764 shares, compared to its average volume of 394,417. The stock has a market cap of $13.91 billion, a PE ratio of 3.86, a PEG ratio of 1.31 and a beta of 0.41. The company has a 50-day moving average of $272.33 and a 200-day moving average of $250.54. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.18. RenaissanceRe Holdings Ltd. has a 12 month low of $188.24 and a 12 month high of $300.00.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its earnings results on Wednesday, November 6th. The insurance provider reported $10.23 EPS for the quarter, beating the consensus estimate of $7.89 by $2.34. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.35 billion. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The business's quarterly revenue was up 52.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.33 earnings per share. On average, equities analysts forecast that RenaissanceRe Holdings Ltd. will post 41.94 earnings per share for the current year.

RenaissanceRe Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.58%. RenaissanceRe's dividend payout ratio is presently 2.25%.

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.