RenaissanceRe Holdings Ltd. $RNR Stock Holdings Lifted by Advisors Asset Management Inc.

Advisors Asset Management Inc. increased its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 10.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 441 shares of the insurance provider’s stock after purchasing an additional 42 shares during the quarter. Advisors Asset Management Inc.’s holdings in RenaissanceRe were worth $106,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group boosted its holdings in shares of RenaissanceRe by 151.7% during the first quarter. Brooklyn Investment Group now owns 146 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 88 shares during the period. Tsfg LLC acquired a new stake in shares of RenaissanceRe during the first quarter worth approximately $40,000. LRI Investments LLC boosted its holdings in shares of RenaissanceRe by 116.5% during the first quarter. LRI Investments LLC now owns 262 shares of the insurance provider’s stock worth $63,000 after purchasing an additional 141 shares during the period. UMB Bank n.a. boosted its holdings in shares of RenaissanceRe by 165.1% during the first quarter. UMB Bank n.a. now owns 464 shares of the insurance provider’s stock worth $111,000 after purchasing an additional 289 shares during the period. Finally, State of Wyoming acquired a new stake in shares of RenaissanceRe during the fourth quarter worth approximately $175,000. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on RNR. UBS Group raised their price target on shares of RenaissanceRe from $250.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday, July 28th. Wells Fargo & Company restated an “equal weight” rating and set a $269.00 price target (up from $267.00) on shares of RenaissanceRe in a report on Thursday, July 10th. Keefe, Bruyette & Woods raised their price target on shares of RenaissanceRe from $268.00 to $269.00 and gave the stock a “market perform” rating in a report on Monday, July 28th. Barclays raised their price target on shares of RenaissanceRe from $256.00 to $273.00 and gave the stock an “equal weight” rating in a report on Thursday, July 24th. Finally, Morgan Stanley reduced their target price on shares of RenaissanceRe from $285.00 to $280.00 and set an “overweight” rating for the company in a research note on Monday, July 14th. Four analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $282.09.

RenaissanceRe Price Performance

NYSE RNR opened at $247.63 on Friday. RenaissanceRe Holdings Ltd. has a 12-month low of $219.00 and a 12-month high of $300.00. The stock has a market capitalization of $11.65 billion, a PE ratio of 6.33, a price-to-earnings-growth ratio of 2.40 and a beta of 0.29. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.23. The company has a 50 day moving average price of $241.59 and a two-hundred day moving average price of $241.53.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings results on Wednesday, July 23rd. The insurance provider reported $12.29 EPS for the quarter, beating analysts’ consensus estimates of $10.28 by $2.01. RenaissanceRe had a net margin of 15.44% and a return on equity of 15.00%. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same quarter last year, the firm posted $12.41 earnings per share. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. As a group, equities analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.6%. RenaissanceRe’s dividend payout ratio (DPR) is currently 4.09%.

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.