RenaissanceRe Holdings Ltd. (NYSE:RNR) Stock Position Lowered by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lowered its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 2.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,819,910 shares of the insurance provider’s stock after selling 49,320 shares during the period. Price T Rowe Associates Inc. MD’s holdings in RenaissanceRe were worth $452,812,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Beacon Investment Advisors LLC boosted its position in shares of RenaissanceRe by 7.7% during the 4th quarter. Beacon Investment Advisors LLC now owns 1,531 shares of the insurance provider’s stock valued at $381,000 after purchasing an additional 110 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new stake in RenaissanceRe during the fourth quarter valued at approximately $1,568,000. Tower Research Capital LLC TRC boosted its holdings in RenaissanceRe by 113.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,967 shares of the insurance provider’s stock worth $987,000 after buying an additional 2,110 shares in the last quarter. MML Investors Services LLC grew its position in RenaissanceRe by 4.8% in the fourth quarter. MML Investors Services LLC now owns 9,989 shares of the insurance provider’s stock worth $2,485,000 after buying an additional 457 shares during the last quarter. Finally, MetLife Investment Management LLC increased its holdings in shares of RenaissanceRe by 8.6% in the fourth quarter. MetLife Investment Management LLC now owns 29,269 shares of the insurance provider’s stock valued at $7,282,000 after buying an additional 2,326 shares in the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports 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 report on Friday, January 31st. Wells Fargo & Company dropped their price target on RenaissanceRe from $277.00 to $271.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Keefe, Bruyette & Woods reduced their price objective on shares of RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a research note on Tuesday, February 4th. JPMorgan Chase & Co. raised shares of RenaissanceRe from a “neutral” rating to an “overweight” rating and set a $284.00 target price on the stock in a research report on Tuesday, April 8th. Finally, Bank of America cut their price target on shares of RenaissanceRe from $437.00 to $426.00 and set a “buy” rating on the stock in a report on Wednesday, March 26th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $280.80.

RenaissanceRe Stock Down 5.0 %

RenaissanceRe stock opened at $228.01 on Friday. RenaissanceRe Holdings Ltd. has a twelve month low of $208.98 and a twelve month high of $300.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a market cap of $11.17 billion, a PE ratio of 6.51, a P/E/G ratio of 2.09 and a beta of 0.29. The firm’s 50 day moving average price is $237.61 and its two-hundred day moving average price is $252.52.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($1.17). The company had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.36 billion. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. On average, research analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.70%. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, March 14th. RenaissanceRe’s payout ratio is currently 5.10%.

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.