Optimize Financial Inc Takes Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Optimize Financial Inc acquired a new position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,292 shares of the insurance provider's stock, valued at approximately $321,000.

Other hedge funds have also bought and sold shares of the company. Boston Partners raised its stake in RenaissanceRe by 28.5% in the fourth quarter. Boston Partners now owns 2,013,382 shares of the insurance provider's stock valued at $500,991,000 after buying an additional 446,781 shares during the period. Impax Asset Management Group plc lifted its holdings in RenaissanceRe by 10.8% during the 4th quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider's stock valued at $466,969,000 after purchasing an additional 182,530 shares during the last quarter. Geode Capital Management LLC boosted its position in RenaissanceRe by 24.3% during the fourth quarter. Geode Capital Management LLC now owns 1,144,805 shares of the insurance provider's stock worth $284,907,000 after purchasing an additional 223,991 shares during the period. FIL Ltd increased its holdings in shares of RenaissanceRe by 5.1% in the fourth quarter. FIL Ltd now owns 1,033,691 shares of the insurance provider's stock valued at $257,193,000 after purchasing an additional 49,804 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of RenaissanceRe by 13.0% in the fourth quarter. Invesco Ltd. now owns 821,111 shares of the insurance provider's stock valued at $204,301,000 after purchasing an additional 94,389 shares during the period. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RNR has been the topic of several research analyst reports. Jefferies Financial Group lowered their price target on shares of RenaissanceRe from $266.00 to $265.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Bank of America dropped their price target on RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a report on Wednesday, March 26th. 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 shares of RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 target price for the company in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company lowered their price target on shares of RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $280.80.

RenaissanceRe Trading Up 1.4 %

Shares of RNR stock traded up $3.24 on Friday, hitting $241.09. The company had a trading volume of 429,115 shares, compared to its average volume of 417,754. The stock's 50-day moving average is $237.11 and its two-hundred day moving average is $253.69. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a market cap of $11.81 billion, a P/E ratio of 6.88, a P/E/G ratio of 2.09 and a beta of 0.29. RenaissanceRe Holdings Ltd. has a twelve month low of $208.98 and a twelve month high of $300.00.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 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%. On average, equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

The firm 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. This is an increase from RenaissanceRe's previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend was Friday, March 14th. RenaissanceRe's payout ratio is presently 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.