RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 24.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,144,805 shares of the insurance provider's stock after buying an additional 223,991 shares during the period. Geode Capital Management LLC owned 2.20% of RenaissanceRe worth $284,907,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in RNR. SBI Securities Co. Ltd. acquired a new stake in RenaissanceRe during the 4th quarter worth $29,000. MassMutual Private Wealth & Trust FSB increased its position in shares of RenaissanceRe by 51.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider's stock worth $30,000 after purchasing an additional 41 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of RenaissanceRe by 1,587.5% in the 4th quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock valued at $34,000 after purchasing an additional 127 shares during the last quarter. Smartleaf Asset Management LLC boosted 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 period. Finally, UMB Bank n.a. grew its stake in RenaissanceRe by 40.0% during the 4th quarter. UMB Bank n.a. now owns 175 shares of the insurance provider's stock worth $44,000 after buying an additional 50 shares during the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP David E. Marra sold 1,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 79,392 shares of the company's stock, valued at $20,178,270.72. This trade represents a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

RNR has been the subject of several research analyst reports. Jefferies Financial Group reissued a "hold" rating and issued a $282.00 price objective (down from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. JMP Securities reissued a "market perform" rating on shares of RenaissanceRe in a research report on Thursday, January 30th. Bank of America reduced their target price on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a report on Wednesday, March 26th. Barclays lowered RenaissanceRe from an "equal weight" rating to an "underweight" rating and lowered their price target for the stock from $284.00 to $234.00 in a report on Monday, January 6th. Finally, Morgan Stanley reduced their price objective on RenaissanceRe from $265.00 to $245.00 and set an "equal weight" rating for the company in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, RenaissanceRe has an average rating of "Hold" and a consensus price target of $283.40.

RenaissanceRe Price Performance

Shares of RenaissanceRe stock traded down $5.49 during trading on Thursday, reaching $233.39. The company's stock had a trading volume of 76,047 shares, compared to its average volume of 414,772. The business has a 50 day moving average price of $236.84 and a 200-day moving average price of $254.83. The company has a market capitalization of $11.44 billion, a P/E ratio of 6.67, a price-to-earnings-growth ratio of 2.09 and a beta of 0.29. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. RenaissanceRe Holdings Ltd. has a 12-month low of $208.98 and a 12-month high of $300.00.

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 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, sell-side analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from RenaissanceRe's previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a yield of 0.69%. RenaissanceRe's dividend payout ratio (DPR) is 4.57%.

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.