RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP grew its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 21.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 624,469 shares of the insurance provider’s stock after purchasing an additional 109,851 shares during the quarter. Dimensional Fund Advisors LP owned 1.18% of RenaissanceRe worth $139,579,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. BNP Paribas Financial Markets boosted its stake in shares of RenaissanceRe by 24.6% during the 4th quarter. BNP Paribas Financial Markets now owns 8,627 shares of the insurance provider’s stock worth $1,691,000 after acquiring an additional 1,704 shares in the last quarter. Assetmark Inc. boosted its stake in shares of RenaissanceRe by 111,240.0% during the 4th quarter. Assetmark Inc. now owns 5,567 shares of the insurance provider’s stock worth $1,091,000 after acquiring an additional 5,562 shares in the last quarter. Orion Portfolio Solutions LLC boosted its stake in shares of RenaissanceRe by 204.9% during the 4th quarter. Orion Portfolio Solutions LLC now owns 5,772 shares of the insurance provider’s stock worth $1,170,000 after acquiring an additional 3,879 shares in the last quarter. Intech Investment Management LLC boosted its stake in shares of RenaissanceRe by 7.9% during the 4th quarter. Intech Investment Management LLC now owns 5,197 shares of the insurance provider’s stock worth $1,019,000 after acquiring an additional 379 shares in the last quarter. Finally, Hilltop Holdings Inc. boosted its stake in shares of RenaissanceRe by 2.8% during the 4th quarter. Hilltop Holdings Inc. now owns 13,164 shares of the insurance provider’s stock worth $2,580,000 after acquiring an additional 353 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $230.00, for a total value of $230,000.00. Following the completion of the sale, the executive vice president now owns 85,544 shares of the company’s stock, valued at $19,675,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $230.00, for a total transaction of $230,000.00. Following the completion of the transaction, the executive vice president now owns 85,544 shares of the company’s stock, valued at approximately $19,675,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert Qutub sold 2,500 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $224.56, for a total value of $561,400.00. Following the transaction, the chief financial officer now directly owns 73,915 shares of the company’s stock, valued at approximately $16,598,352.40. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

RenaissanceRe Stock Performance

Shares of NYSE RNR opened at $263.67 on Friday. The business’s 50-day moving average price is $242.87 and its two-hundred day moving average price is $231.32. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38. RenaissanceRe Holdings Ltd. has a one year low of $188.24 and a one year high of $268.61. The company has a market capitalization of $13.75 billion, a P/E ratio of 5.83, a price-to-earnings-growth ratio of 1.45 and a beta of 0.38.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Wednesday, July 24th. The insurance provider reported $12.41 earnings per share for the quarter, topping analysts’ consensus estimates of $10.88 by $1.53. RenaissanceRe had a return on equity of 27.74% and a net margin of 25.38%. The company had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Analysts anticipate that RenaissanceRe Holdings Ltd. will post 39.01 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a $0.39 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.59%. RenaissanceRe’s dividend payout ratio is currently 3.45%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on RNR shares. JPMorgan Chase & Co. raised their price objective on RenaissanceRe from $265.00 to $267.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. StockNews.com cut RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Friday, September 6th. UBS Group decreased their target price on RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Bank of America raised their target price on RenaissanceRe from $334.00 to $347.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Finally, Barclays started coverage on RenaissanceRe in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $287.00 target price for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, RenaissanceRe has an average rating of “Hold” and an average price target of $272.60.

About RenaissanceRe

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.