GeoWealth Management LLC Has $306,000 Stock Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

GeoWealth Management LLC lifted its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 766.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,231 shares of the insurance provider's stock after purchasing an additional 1,089 shares during the period. GeoWealth Management LLC's holdings in RenaissanceRe were worth $306,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Farringdon Capital Ltd. acquired a new position in shares of RenaissanceRe during the 4th quarter worth about $377,000. Bridgewater Associates LP grew its holdings in RenaissanceRe by 158.0% during the fourth quarter. Bridgewater Associates LP now owns 51,306 shares of the insurance provider's stock valued at $12,765,000 after purchasing an additional 31,417 shares during the period. XTX Topco Ltd grew its holdings in RenaissanceRe by 944.1% during the fourth quarter. XTX Topco Ltd now owns 9,710 shares of the insurance provider's stock valued at $2,416,000 after purchasing an additional 8,780 shares during the period. Mariner LLC increased its stake in RenaissanceRe by 12.8% in the fourth quarter. Mariner LLC now owns 11,480 shares of the insurance provider's stock valued at $2,856,000 after purchasing an additional 1,299 shares in the last quarter. Finally, Barclays PLC raised its holdings in RenaissanceRe by 339.6% in the fourth quarter. Barclays PLC now owns 100,767 shares of the insurance provider's stock worth $25,072,000 after purchasing an additional 77,844 shares during the period. 99.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RNR has been the subject of a number of recent analyst reports. Jefferies Financial Group lowered their price objective on shares of RenaissanceRe from $266.00 to $265.00 and set a "hold" rating for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. upgraded RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price target for the company in a report on Tuesday, April 8th. Morgan Stanley cut their price objective on RenaissanceRe from $265.00 to $245.00 and set an "equal weight" rating on the stock in a report on Friday, January 31st. Wells Fargo & Company lowered 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. Finally, Keefe, Bruyette & Woods cut their price target on shares of RenaissanceRe from $318.00 to $294.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $280.80.

RenaissanceRe Stock Performance

Shares of RNR stock opened at $243.62 on Wednesday. RenaissanceRe Holdings Ltd. has a 12 month low of $208.98 and a 12 month high of $300.00. The company's fifty day simple moving average is $237.49 and its 200-day simple moving average is $252.79. The firm has a market cap of $11.94 billion, a PE ratio of 6.96, a P/E/G 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 (NYSE:RNR - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 EPS for the quarter, topping 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%. Equities research analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.66%. This is an increase from RenaissanceRe's previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, March 14th. RenaissanceRe's dividend payout ratio (DPR) 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.

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