Russell Investments Group Ltd. Grows Stock Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Russell Investments Group Ltd. increased its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 38.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 33,836 shares of the insurance provider's stock after acquiring an additional 9,383 shares during the period. Russell Investments Group Ltd. owned approximately 0.07% of RenaissanceRe worth $8,419,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Hurley Capital LLC purchased a new stake in shares of RenaissanceRe in the fourth quarter valued at approximately $1,638,000. Aviva PLC raised its position in RenaissanceRe by 115.8% during the fourth quarter. Aviva PLC now owns 4,210 shares of the insurance provider's stock worth $1,047,000 after acquiring an additional 2,259 shares during the period. Resona Asset Management Co. Ltd. acquired a new stake in shares of RenaissanceRe in the fourth quarter valued at about $1,987,000. Bryce Point Capital LLC acquired a new position in shares of RenaissanceRe during the 4th quarter worth about $1,464,000. Finally, Huntington National Bank lifted its stake in RenaissanceRe by 179.3% in the 4th quarter. Huntington National Bank now owns 257 shares of the insurance provider's stock valued at $64,000 after buying an additional 165 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company's stock.

RenaissanceRe Trading Up 1.4 %

RNR 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 company's fifty day moving average price is $237.11 and its 200 day moving average price is $253.69. RenaissanceRe Holdings Ltd. has a 1 year low of $208.98 and a 1 year high of $300.00. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19. The firm has a market cap of $11.81 billion, a P/E ratio of 6.88, a PEG ratio of 2.09 and a beta of 0.29.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced its 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 return on equity of 23.41% and a net margin of 15.99%. As a group, equities analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, March 14th. This is a positive change 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%. RenaissanceRe's dividend payout ratio is 4.57%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RNR shares. Barclays reduced their target price on RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating for the company in a report on Friday, April 11th. JPMorgan Chase & Co. upgraded 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. Morgan Stanley cut their price objective on shares of 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 cut their price target on RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Finally, Keefe, Bruyette & Woods dropped their target price on RenaissanceRe from $318.00 to $294.00 and set an "outperform" rating for the company in a report on Tuesday, February 4th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $280.80.

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.