JPMorgan Chase & Co. Has $31.76 Million Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

JPMorgan Chase & Co. reduced its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 38.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 116,587 shares of the insurance provider's stock after selling 73,652 shares during the period. JPMorgan Chase & Co. owned approximately 0.22% of RenaissanceRe worth $31,758,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Impax Asset Management Group plc raised its stake in RenaissanceRe by 32.4% during the third quarter. Impax Asset Management Group plc now owns 1,697,636 shares of the insurance provider's stock worth $461,679,000 after acquiring an additional 415,366 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of RenaissanceRe by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider's stock worth $250,892,000 after purchasing an additional 25,773 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in RenaissanceRe by 21.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 624,469 shares of the insurance provider's stock valued at $139,579,000 after purchasing an additional 109,851 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in RenaissanceRe by 1.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 120,129 shares of the insurance provider's stock valued at $26,850,000 after purchasing an additional 1,606 shares during the last quarter. Finally, Sei Investments Co. boosted its position in RenaissanceRe by 42.4% in the second quarter. Sei Investments Co. now owns 111,369 shares of the insurance provider's stock valued at $24,892,000 after buying an additional 33,154 shares in the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

RenaissanceRe Trading Up 2.1 %

RenaissanceRe stock traded up $5.15 during midday trading on Tuesday, hitting $253.77. 384,968 shares of the stock were exchanged, compared to its average volume of 394,667. RenaissanceRe Holdings Ltd. has a 52 week low of $197.49 and a 52 week high of $300.00. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $13.18 billion, a PE ratio of 3.66, a P/E/G ratio of 1.31 and a beta of 0.44. The company has a fifty day simple moving average of $264.53 and a two-hundred day simple moving average of $253.62.

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

RenaissanceRe Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were issued a $0.39 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.61%. RenaissanceRe's dividend payout ratio (DPR) is presently 2.25%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on RNR shares. Citigroup lifted their target price on shares of RenaissanceRe from $262.00 to $298.00 and gave the company a "buy" rating in a research note on Tuesday, September 10th. Jefferies Financial Group reissued a "hold" rating and issued a $282.00 price objective (down previously from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. StockNews.com cut RenaissanceRe from a "buy" rating to a "hold" rating in a report on Tuesday, October 22nd. Keefe, Bruyette & Woods decreased their price objective on shares of RenaissanceRe from $316.00 to $310.00 and set an "outperform" rating on the stock in a report on Tuesday, November 12th. Finally, Barclays downgraded shares of RenaissanceRe from an "equal weight" rating to an "underweight" rating and dropped their target price for the stock from $284.00 to $234.00 in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, RenaissanceRe presently has a consensus rating of "Hold" and an average target price of $285.64.

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.