Invesco Ltd. Acquires 94,389 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Invesco Ltd. boosted its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 13.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 821,111 shares of the insurance provider's stock after acquiring an additional 94,389 shares during the quarter. Invesco Ltd. owned 1.58% of RenaissanceRe worth $204,301,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd bought a new position in shares of RenaissanceRe in the fourth quarter valued at approximately $27,000. Russell Investments Group Ltd. increased its position in shares of RenaissanceRe by 38.4% during the 4th quarter. Russell Investments Group Ltd. now owns 33,836 shares of the insurance provider's stock valued at $8,419,000 after purchasing an additional 9,383 shares during the last quarter. Hurley Capital LLC purchased a new position in shares of RenaissanceRe in the 4th quarter worth about $1,638,000. Aviva PLC grew its position in RenaissanceRe by 115.8% during the fourth quarter. Aviva PLC now owns 4,210 shares of the insurance provider's stock valued at $1,047,000 after buying an additional 2,259 shares during the period. Finally, Resona Asset Management Co. Ltd. purchased a new stake in RenaissanceRe during the fourth quarter worth about $1,987,000. 99.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RNR has been the topic of a number of research reports. JPMorgan Chase & Co. raised shares of RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price target on the stock in a report on Tuesday, April 8th. Morgan Stanley lowered their target price on RenaissanceRe from $265.00 to $245.00 and set an "equal weight" rating on the stock in a research note on Friday, January 31st. JMP Securities restated a "market perform" rating on shares of RenaissanceRe in a research note on Thursday, January 30th. Barclays lowered their target price on shares of RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating on the stock in a report on Friday, April 11th. Finally, Jefferies Financial Group reduced their price target on RenaissanceRe from $266.00 to $265.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Two research 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. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $280.80.

RenaissanceRe Trading Up 1.2 %

Shares of NYSE:RNR traded up $2.81 on Thursday, reaching $240.66. 64,582 shares of the company traded hands, compared to its average volume of 415,829. The stock has a market capitalization of $11.79 billion, a P/E ratio of 6.88, a price-to-earnings-growth ratio of 2.09 and a beta of 0.29. RenaissanceRe Holdings Ltd. has a 52 week low of $208.98 and a 52 week high of $300.00. The business's 50-day simple moving average is $236.97 and its 200 day simple moving average is $253.91. 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 (NYSE:RNR - Get Free Report) last issued its 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%. As a group, equities analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

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