Sterling Capital Management LLC Purchases 1,063 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Sterling Capital Management LLC raised its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 26.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,125 shares of the insurance provider's stock after acquiring an additional 1,063 shares during the quarter. Sterling Capital Management LLC's holdings in RenaissanceRe were worth $1,275,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of RNR. Aster Capital Management DIFC Ltd bought a new position in shares of RenaissanceRe during the 4th quarter valued at about $27,000. SBI Securities Co. Ltd. bought a new stake in shares of RenaissanceRe during the fourth quarter worth $29,000. MassMutual Private Wealth & Trust FSB lifted its position in RenaissanceRe by 51.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider's stock valued at $30,000 after acquiring an additional 41 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in RenaissanceRe by 1,587.5% in the 4th quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock worth $34,000 after purchasing an additional 127 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in RenaissanceRe by 71.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock worth $39,000 after purchasing an additional 65 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company's stock.

RenaissanceRe Stock Performance

Shares of NYSE:RNR traded down $4.53 during trading on Monday, reaching $236.12. 29,604 shares of the stock were exchanged, compared to its average volume of 416,382. The firm has a market cap of $11.57 billion, a PE ratio of 6.76, a PEG ratio of 2.09 and a beta of 0.29. 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 Holdings Ltd. has a 12 month low of $208.98 and a 12 month high of $300.00. The stock has a 50-day moving average price of $237.23 and a 200-day moving average price of $253.17.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share for the quarter, topping the consensus estimate of $6.94 by $1.12. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. Research analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.68%. This is an increase from RenaissanceRe's previous quarterly dividend of $0.39. The ex-dividend date was Friday, March 14th. RenaissanceRe's payout ratio is presently 4.57%.

Analysts Set New Price Targets

A number of analysts have recently commented on RNR shares. Keefe, Bruyette & Woods cut their price target on RenaissanceRe from $318.00 to $294.00 and set an "outperform" rating on the stock in a report on Tuesday, February 4th. Bank of America cut their price objective on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating on the stock in a research report on Wednesday, March 26th. Barclays decreased their target price on shares of RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating for the company in a research report on Friday, April 11th. Morgan Stanley cut their price target on shares of RenaissanceRe from $265.00 to $245.00 and set an "equal weight" rating on the stock in a research report on Friday, January 31st. Finally, JMP Securities restated a "market perform" rating on shares of RenaissanceRe in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, RenaissanceRe has an average rating of "Hold" and an average target price of $280.80.

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.