Barclays PLC Buys 77,844 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Barclays PLC boosted its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 339.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 100,767 shares of the insurance provider’s stock after purchasing an additional 77,844 shares during the period. Barclays PLC owned about 0.19% of RenaissanceRe worth $25,072,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. SageView Advisory Group LLC purchased a new position in shares of RenaissanceRe during the 4th quarter valued at $213,000. Seeds Investor LLC boosted its position in RenaissanceRe by 6.3% during the fourth quarter. Seeds Investor LLC now owns 1,385 shares of the insurance provider’s stock worth $344,000 after purchasing an additional 82 shares during the period. Optimize Financial Inc purchased a new position in shares of RenaissanceRe in the fourth quarter worth about $321,000. Townsquare Capital LLC purchased a new stake in shares of RenaissanceRe during the 4th quarter valued at approximately $352,000. Finally, Rockefeller Capital Management L.P. boosted its holdings in RenaissanceRe by 1.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 13,750 shares of the insurance provider’s stock worth $3,421,000 after buying an additional 225 shares during the period. 99.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RNR has been the subject of a number of analyst reports. Wells Fargo & Company cut their price target on RenaissanceRe from $277.00 to $271.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. JPMorgan Chase & Co. raised RenaissanceRe from a “neutral” rating to an “overweight” rating and set a $284.00 target price for the company in a report on Tuesday, April 8th. Morgan Stanley lowered their price target on shares of RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. 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 research report on Wednesday, March 26th. Finally, JMP Securities reiterated a “market perform” rating on shares of RenaissanceRe in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, RenaissanceRe presently has a consensus rating of “Hold” and an average price target of $280.80.

RenaissanceRe Price Performance

RNR opened at $241.09 on Friday. The stock has a market capitalization of $11.81 billion, a P/E ratio of 6.88, a PEG ratio of 2.09 and a beta of 0.29. 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 12-month low of $208.98 and a 12-month high of $300.00. The stock has a 50-day moving average price of $237.23 and a 200-day moving average price of $253.46.

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

RenaissanceRe Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, March 14th. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 0.66%. RenaissanceRe’s dividend payout ratio is currently 4.57%.

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.