RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. lessened its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 38.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,256 shares of the insurance provider's stock after selling 1,401 shares during the quarter. Prudential Financial Inc.'s holdings in RenaissanceRe were worth $561,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Impax Asset Management Group plc lifted its stake in RenaissanceRe by 10.8% in 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 buying an additional 182,530 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of RenaissanceRe by 2.9% during the third quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider's stock valued at $250,892,000 after acquiring an additional 25,773 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of RenaissanceRe by 47.8% in the third quarter. HighTower Advisors LLC now owns 12,224 shares of the insurance provider's stock valued at $3,342,000 after acquiring an additional 3,954 shares in the last quarter. World Investment Advisors LLC acquired a new stake in shares of RenaissanceRe in the third quarter worth approximately $16,176,000. Finally, Barclays PLC increased its position in shares of RenaissanceRe by 57.1% during the third quarter. Barclays PLC now owns 22,923 shares of the insurance provider's stock worth $6,244,000 after purchasing an additional 8,333 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.

RenaissanceRe Stock Performance

NYSE RNR traded up $5.87 during trading hours on Friday, hitting $237.92. The company had a trading volume of 524,254 shares, compared to its average volume of 417,714. The business has a 50 day moving average of $236.93 and a 200-day moving average of $254.34. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42. RenaissanceRe Holdings Ltd. has a 1-year low of $208.98 and a 1-year high of $300.00. The company has a market cap of $11.66 billion, a PE ratio of 6.79, a price-to-earnings-growth ratio of 2.09 and a beta of 0.29.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share for the quarter, beating analysts' consensus estimates of $6.94 by $1.12. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. As a group, equities research analysts expect 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. Investors of record on Friday, March 14th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, March 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.67%. This is a positive change from RenaissanceRe's previous quarterly dividend of $0.39. RenaissanceRe's dividend payout ratio (DPR) is currently 4.57%.

Analysts Set New Price Targets

A number of analysts have commented on RNR shares. Jefferies Financial Group cut their price objective on shares of RenaissanceRe from $266.00 to $265.00 and set a "hold" rating for the company in a report on Friday. Morgan Stanley lowered their price target on RenaissanceRe from $265.00 to $245.00 and set an "equal weight" rating for the company in a report on Friday, January 31st. Wells Fargo & Company reduced their price objective on shares of RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating on the stock in a report on Thursday. Keefe, Bruyette & Woods lowered their target price on RenaissanceRe from $318.00 to $294.00 and set an "outperform" rating for the company in a research note on Tuesday, February 4th. Finally, Barclays decreased their price objective on RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating for the company in a research note on Friday. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $280.80.

Insider Buying and Selling at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the firm's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total value of $254,160.00. Following the completion of the sale, the executive vice president now owns 79,392 shares in the company, valued at approximately $20,178,270.72. This trade represents a 1.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.30% of the company's stock.

RenaissanceRe Company 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.