RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. grew its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 2.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,565,691 shares of the insurance provider’s stock after buying an additional 148,173 shares during the period. Vanguard Group Inc. owned 10.56% of RenaissanceRe worth $1,090,875,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of RNR. Capital World Investors lifted its stake in RenaissanceRe by 1.0% in the 4th quarter. Capital World Investors now owns 2,539,332 shares of the insurance provider’s stock worth $497,709,000 after purchasing an additional 25,898 shares in the last quarter. Capital Research Global Investors boosted its stake in RenaissanceRe by 5.3% during the fourth quarter. Capital Research Global Investors now owns 1,423,281 shares of the insurance provider’s stock worth $278,963,000 after buying an additional 71,377 shares during the last quarter. American International Group Inc. boosted its stake in RenaissanceRe by 1,829.6% during the fourth quarter. American International Group Inc. now owns 1,393,546 shares of the insurance provider’s stock worth $273,135,000 after buying an additional 1,321,325 shares during the last quarter. Polar Capital Holdings Plc grew its holdings in RenaissanceRe by 7.5% in the 3rd quarter. Polar Capital Holdings Plc now owns 1,104,756 shares of the insurance provider’s stock valued at $218,653,000 after buying an additional 77,319 shares in the last quarter. Finally, Cooke & Bieler LP increased its stake in shares of RenaissanceRe by 97.9% in the 4th quarter. Cooke & Bieler LP now owns 1,088,978 shares of the insurance provider’s stock worth $213,440,000 after acquiring an additional 538,636 shares during the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RNR. JPMorgan Chase & Co. upped their price objective on shares of RenaissanceRe from $237.00 to $245.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Evercore ISI raised their price target on shares of RenaissanceRe from $216.00 to $218.00 and gave the stock an “underperform” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, RenaissanceRe presently has an average rating of “Hold” and an average price target of $249.00.

RenaissanceRe Price Performance

RNR opened at $225.94 on Friday. The stock’s 50-day moving average price is $223.72 and its 200 day moving average price is $219.35. RenaissanceRe Holdings Ltd. has a 12-month low of $174.22 and a 12-month high of $239.42. The firm has a market cap of $11.95 billion, a price-to-earnings ratio of 4.99, a PEG ratio of 1.48 and a beta of 0.38. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.21.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Tuesday, April 30th. The insurance provider reported $12.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.86 by $2.32. The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.05 billion. RenaissanceRe had a net margin of 24.79% and a return on equity of 27.09%. The business’s quarterly revenue was up 41.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.16 earnings per share. As a group, sell-side analysts expect that RenaissanceRe Holdings Ltd. will post 37.22 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.69%. RenaissanceRe’s dividend payout ratio (DPR) is 3.45%.

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.