Diamond Hill Capital Management Inc. Sells 6,332 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Diamond Hill Capital Management Inc. lowered its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 3.4% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 180,886 shares of the insurance provider's stock after selling 6,332 shares during the period. Diamond Hill Capital Management Inc. owned approximately 0.35% of RenaissanceRe worth $49,273,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Impax Asset Management Group plc lifted its position in shares of RenaissanceRe by 32.4% during the 3rd quarter. Impax Asset Management Group plc now owns 1,697,636 shares of the insurance provider's stock worth $461,679,000 after buying an additional 415,366 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of RenaissanceRe by 21.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 624,469 shares of the insurance provider's stock worth $139,579,000 after buying an additional 109,851 shares in the last quarter. Cooke & Bieler LP lifted its position in shares of RenaissanceRe by 9.2% during the 2nd quarter. Cooke & Bieler LP now owns 1,027,601 shares of the insurance provider's stock worth $229,679,000 after buying an additional 86,562 shares in the last quarter. Assetmark Inc. lifted its position in shares of RenaissanceRe by 115.3% during the 3rd quarter. Assetmark Inc. now owns 81,006 shares of the insurance provider's stock worth $22,066,000 after buying an additional 43,384 shares in the last quarter. Finally, Jupiter Asset Management Ltd. lifted its position in shares of RenaissanceRe by 480.2% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 41,726 shares of the insurance provider's stock worth $9,326,000 after buying an additional 34,534 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on RNR. Jefferies Financial Group lifted their target price on shares of RenaissanceRe from $270.00 to $314.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. lifted their target price on shares of RenaissanceRe from $274.00 to $280.00 and gave the stock a "neutral" rating in a research report on Thursday. Bank of America lifted their price target on shares of RenaissanceRe from $364.00 to $391.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Citigroup lifted their price target on shares of RenaissanceRe from $262.00 to $298.00 and gave the stock a "buy" rating in a report on Tuesday, September 10th. Finally, Barclays began coverage on shares of RenaissanceRe in a report on Wednesday, September 4th. They issued an "equal weight" rating and a $287.00 price target on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $291.30.

RenaissanceRe Stock Performance

RNR stock traded down $5.56 during midday trading on Monday, reaching $262.56. 192,690 shares of the company's stock traded hands, compared to its average volume of 349,654. The company has a 50-day moving average price of $267.63 and a two-hundred day moving average price of $241.99. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.38 and a current ratio of 1.43. RenaissanceRe Holdings Ltd. has a 52 week low of $188.24 and a 52 week high of $300.00. The firm has a market capitalization of $13.70 billion, a PE ratio of 3.86, a price-to-earnings-growth ratio of 1.75 and a beta of 0.39.

RenaissanceRe (NYSE:RNR - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $10.23 EPS for the quarter, beating analysts' consensus estimates of $7.89 by $2.34. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.35 billion. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The business's revenue for the quarter was up 52.1% on a year-over-year basis. During the same period in the previous year, the business earned $8.33 EPS. As a group, equities analysts anticipate that RenaissanceRe Holdings Ltd. will post 40.75 EPS for the current year.

RenaissanceRe Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a $0.39 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.59%. RenaissanceRe's dividend payout ratio (DPR) is presently 2.25%.

Insider Buying and Selling

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the business's stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $269.00, for a total value of $269,000.00. Following the completion of the sale, the executive vice president now directly owns 83,044 shares of the company's stock, valued at $22,338,836. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.30% of the stock is owned by company insiders.

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.