American Century Companies Inc. Has $20 Million Stock Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

American Century Companies Inc. raised its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 19.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,369 shares of the insurance provider’s stock after buying an additional 12,979 shares during the quarter. American Century Companies Inc. owned about 0.15% of RenaissanceRe worth $19,997,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Impax Asset Management Group plc raised its position in shares of RenaissanceRe by 10.8% during the fourth quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider’s stock valued at $466,969,000 after buying an additional 182,530 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new stake in shares of RenaissanceRe during the 3rd quarter worth approximately $3,684,000. Geode Capital Management LLC increased its position in shares of RenaissanceRe by 2.9% during the third quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider’s stock valued at $250,892,000 after purchasing an additional 25,773 shares during the period. HighTower Advisors LLC raised its stake in shares of RenaissanceRe by 47.8% in the third quarter. HighTower Advisors LLC now owns 12,224 shares of the insurance provider’s stock valued at $3,342,000 after purchasing an additional 3,954 shares in the last quarter. Finally, World Investment Advisors LLC bought a new stake in RenaissanceRe in the 3rd quarter valued at $16,176,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on RNR shares. Morgan Stanley reduced 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. JMP Securities reissued a “market perform” rating on shares of RenaissanceRe in a report on Thursday, January 30th. Barclays lowered RenaissanceRe from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $284.00 to $234.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods lowered their price target on RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 4th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $282.00 price objective (down from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $283.40.

RenaissanceRe Price Performance

Shares of NYSE RNR opened at $242.46 on Monday. 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 1-year low of $208.98 and a 1-year high of $300.00. The firm’s 50-day moving average price is $239.76 and its 200-day moving average price is $256.53. The firm has a market capitalization of $11.88 billion, a P/E ratio of 6.92, a P/E/G ratio of 2.09 and a beta of 0.38.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings results 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 net margin of 15.99% and a return on equity of 23.41%. Equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.40 per share. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. This represents a $1.60 annualized dividend and a yield of 0.66%. RenaissanceRe’s dividend payout ratio (DPR) is currently 4.57%.

Insiders Place Their Bets

In related news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total transaction of $254,160.00. Following the transaction, the executive vice president now directly owns 79,392 shares of the company’s stock, valued at approximately $20,178,270.72. This trade represents a 1.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.30% of the company’s stock.

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.