Dimensional Fund Advisors LP Has $254.27 Million Stake in RenaissanceRe Holdings Ltd. $RNR

Dimensional Fund Advisors LP increased its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 4.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,001,410 shares of the insurance provider’s stock after buying an additional 45,936 shares during the period. Dimensional Fund Advisors LP owned 2.17% of RenaissanceRe worth $254,273,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Hantz Financial Services Inc. boosted its stake in RenaissanceRe by 707.1% in the second quarter. Hantz Financial Services Inc. now owns 113 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 99 shares during the last quarter. Financial Consulate Inc. bought a new position in shares of RenaissanceRe in the 3rd quarter worth $29,000. Huntington National Bank grew its stake in shares of RenaissanceRe by 80.9% during the second quarter. Huntington National Bank now owns 123 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 55 shares during the period. Farther Finance Advisors LLC grew its stake in shares of RenaissanceRe by 151.9% during the third quarter. Farther Finance Advisors LLC now owns 131 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 79 shares during the period. Finally, Root Financial Partners LLC bought a new stake in RenaissanceRe in the third quarter valued at about $36,000. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Cantor Fitzgerald increased their target price on RenaissanceRe from $252.00 to $282.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Zacks Research lowered RenaissanceRe from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. JPMorgan Chase & Co. upped their price target on RenaissanceRe from $303.00 to $329.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Wall Street Zen upgraded shares of RenaissanceRe from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $267.00 price objective on shares of RenaissanceRe in a research note on Wednesday, January 7th. Three research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $310.27.

RenaissanceRe Stock Up 0.4%

Shares of RNR stock opened at $298.89 on Friday. The firm’s fifty day moving average price is $287.77 and its two-hundred day moving average price is $267.36. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.21. RenaissanceRe Holdings Ltd. has a 1 year low of $219.00 and a 1 year high of $315.88. The firm has a market capitalization of $13.00 billion, a P/E ratio of 5.27, a PEG ratio of 0.69 and a beta of 0.21.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Tuesday, February 3rd. The insurance provider reported $13.34 EPS for the quarter, topping analysts’ consensus estimates of $10.59 by $2.75. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $1.73 billion. RenaissanceRe had a net margin of 20.88% and a return on equity of 18.29%. The company’s quarterly revenue was up 29.6% on a year-over-year basis. During the same period in the prior year, the business posted $8.06 EPS. On average, equities 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 will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be paid a $0.41 dividend. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Friday, March 13th. RenaissanceRe’s dividend payout ratio is 2.82%.

Insider Buying and Selling

In related news, EVP Robert Qutub sold 5,000 shares of RenaissanceRe stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $305.75, for a total transaction of $1,528,750.00. Following the completion of the transaction, the executive vice president owned 73,023 shares in the company, valued at approximately $22,326,782.25. This trade represents a 6.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.