Price T Rowe Associates Inc. MD Sells 49,320 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Price T Rowe Associates Inc. MD lessened its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 2.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,819,910 shares of the insurance provider's stock after selling 49,320 shares during the period. Price T Rowe Associates Inc. MD owned 3.50% of RenaissanceRe worth $452,812,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in RNR. First Trust Advisors LP increased its holdings in shares of RenaissanceRe by 462.8% in the 4th quarter. First Trust Advisors LP now owns 864,252 shares of the insurance provider's stock worth $215,035,000 after buying an additional 710,698 shares during the last quarter. Norges Bank bought a new position in RenaissanceRe in the fourth quarter valued at $173,530,000. Boston Partners raised its position in RenaissanceRe by 28.5% during the fourth quarter. Boston Partners now owns 2,013,382 shares of the insurance provider's stock valued at $500,991,000 after purchasing an additional 446,781 shares in the last quarter. Capital World Investors lifted its stake in RenaissanceRe by 8.8% during the fourth quarter. Capital World Investors now owns 2,882,835 shares of the insurance provider's stock worth $717,278,000 after purchasing an additional 233,708 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of RenaissanceRe by 24.3% in the 4th 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 in the last quarter. Institutional investors own 99.97% of the company's stock.

Wall Street Analyst Weigh In

RNR has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods lowered their price target on RenaissanceRe from $318.00 to $294.00 and set an "outperform" rating for the company in a research report on Tuesday, February 4th. Morgan Stanley upgraded shares of RenaissanceRe from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $235.00 to $275.00 in a report on Friday. Wells Fargo & Company decreased their price objective on shares of RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Barclays reduced their price target on shares of RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating on the stock in a research report on Friday, April 11th. Finally, JMP Securities restated a "market perform" rating on shares of RenaissanceRe in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $283.80.

RenaissanceRe Trading Up 1.2 %

Shares of RNR traded up $2.85 during trading hours on Monday, reaching $238.20. 421,295 shares of the company traded hands, compared to its average volume of 427,971. The firm has a market cap of $11.67 billion, a price-to-earnings ratio of 6.80, a PEG ratio of 2.09 and a beta of 0.29. RenaissanceRe Holdings Ltd. has a 12-month low of $208.98 and a 12-month high of $300.00. The stock's fifty day moving average price is $237.66 and its 200 day moving average price is $252.00. 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 (NYSE:RNR - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share for the quarter, missing analysts' consensus estimates of ($0.32) by ($1.17). RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. The firm had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.36 billion. During the same period last year, the firm earned $12.18 earnings per share. The company's revenue for the quarter was up 7.6% on a year-over-year basis. Sell-side analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current 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 given a dividend of $0.40 per share. This is an increase from RenaissanceRe's previous quarterly dividend of $0.39. The ex-dividend date was Friday, March 14th. This represents a $1.60 dividend on an annualized basis and a yield of 0.67%. RenaissanceRe's dividend payout ratio (DPR) is 5.10%.

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.