MetLife Investment Management LLC Boosts Stock Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

MetLife Investment Management LLC grew its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 8.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,269 shares of the insurance provider's stock after purchasing an additional 2,326 shares during the quarter. MetLife Investment Management LLC owned approximately 0.06% of RenaissanceRe worth $7,282,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Aster Capital Management DIFC Ltd purchased a new position in shares of RenaissanceRe during the fourth quarter worth approximately $27,000. SBI Securities Co. Ltd. purchased a new stake in shares of RenaissanceRe in the 4th quarter valued at $29,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of RenaissanceRe by 51.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider's stock valued at $30,000 after purchasing an additional 41 shares during the last quarter. Jones Financial Companies Lllp raised its position in RenaissanceRe by 1,587.5% in the 4th quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock worth $34,000 after purchasing an additional 127 shares during the period. Finally, Smartleaf Asset Management LLC lifted its stake in RenaissanceRe by 71.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock worth $39,000 after purchasing an additional 65 shares during the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

RenaissanceRe Trading Up 3.7 %

NYSE:RNR opened at $243.62 on Wednesday. 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 Holdings Ltd. has a 12 month low of $208.98 and a 12 month high of $300.00. The company has a 50-day moving average price of $237.49 and a 200-day moving average price of $252.79. The stock has a market cap of $11.94 billion, a price-to-earnings ratio of 6.96, a P/E/G ratio of 2.09 and a beta of 0.29.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) for the quarter, beating 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%. Equities analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The business also recently declared 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%. The ex-dividend date was Friday, March 14th. This is a positive change from RenaissanceRe's previous quarterly dividend of $0.39. RenaissanceRe's payout ratio is currently 4.57%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Barclays decreased their price objective on RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating on the stock in a report on Friday, April 11th. JPMorgan Chase & Co. raised RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price target on the stock in a research note on Tuesday, April 8th. Morgan Stanley lowered their price objective on RenaissanceRe from $265.00 to $245.00 and set an "equal weight" rating for the company in a research report on Friday, January 31st. Bank of America cut their target price on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating on the stock in a report on Wednesday, March 26th. Finally, JMP Securities reiterated a "market perform" rating on shares of RenaissanceRe in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $280.80.

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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