FIL Ltd Acquires 49,804 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

FIL Ltd lifted its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 5.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,033,691 shares of the insurance provider’s stock after acquiring an additional 49,804 shares during the quarter. FIL Ltd owned approximately 1.99% of RenaissanceRe worth $257,193,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in RNR. Impax Asset Management Group plc boosted its position in 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 worth $466,969,000 after purchasing an additional 182,530 shares during the period. Geode Capital Management LLC boosted its holdings in shares of RenaissanceRe by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider’s stock worth $250,892,000 after buying an additional 25,773 shares during the period. HighTower Advisors LLC grew its stake in RenaissanceRe by 47.8% in the 3rd quarter. HighTower Advisors LLC now owns 12,224 shares of the insurance provider’s stock valued at $3,342,000 after buying an additional 3,954 shares during the last quarter. World Investment Advisors LLC bought a new position in RenaissanceRe in the 3rd quarter valued at about $16,176,000. Finally, Barclays PLC lifted its position in RenaissanceRe by 57.1% during the third quarter. Barclays PLC now owns 22,923 shares of the insurance provider’s stock worth $6,244,000 after acquiring an additional 8,333 shares during the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

RenaissanceRe Trading Down 5.1 %

Shares of RNR opened at $220.77 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42. RenaissanceRe Holdings Ltd. has a 52-week low of $208.98 and a 52-week high of $300.00. The firm has a market cap of $10.82 billion, a price-to-earnings ratio of 6.30, a PEG ratio of 2.09 and a beta of 0.29. The business’s fifty day moving average is $237.58 and its 200-day moving average is $255.60.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Tuesday, January 28th. The insurance provider reported $8.06 EPS 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%. Equities analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.40 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.60 dividend on an annualized basis and a yield of 0.72%. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.39. 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 business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total transaction of $254,160.00. Following the sale, the executive vice president now owns 79,392 shares in the company, valued at $20,178,270.72. The trade was a 1.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on RNR shares. Morgan Stanley decreased their target price on RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Wells Fargo & Company lowered their price objective on RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Keefe, Bruyette & Woods reduced their target price on shares of RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a research report on Tuesday, February 4th. JMP Securities reaffirmed a “market perform” rating on shares of RenaissanceRe in a research report on Thursday, January 30th. Finally, Bank of America cut their price objective on shares of RenaissanceRe from $437.00 to $426.00 and set a “buy” rating for the company in a report on Wednesday, March 26th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, RenaissanceRe currently has a consensus rating of “Hold” and an average price target of $283.40.

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.