Dimensional Fund Advisors LP Raises Position in RenaissanceRe Holdings Ltd. $RNR

Dimensional Fund Advisors LP increased its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 5.1% in the first quarter, Holdings Channel.com reports. The institutional investor owned 1,085,380 shares of the insurance provider’s stock after purchasing an additional 52,371 shares during the quarter. Dimensional Fund Advisors LP’s holdings in RenaissanceRe were worth $322,603,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Robeco Institutional Asset Management B.V. grew its position in RenaissanceRe by 135.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 195,975 shares of the insurance provider’s stock valued at $55,100,000 after acquiring an additional 112,910 shares in the last quarter. Belpointe Asset Management LLC lifted its position in shares of RenaissanceRe by 595.0% during the fourth quarter. Belpointe Asset Management LLC now owns 6,151 shares of the insurance provider’s stock worth $1,729,000 after purchasing an additional 5,266 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of RenaissanceRe by 68.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,171 shares of the insurance provider’s stock valued at $3,855,000 after purchasing an additional 5,782 shares during the period. M&T Bank Corp grew its holdings in RenaissanceRe by 8,296.5% during the 4th quarter. M&T Bank Corp now owns 290,352 shares of the insurance provider’s stock valued at $81,635,000 after purchasing an additional 286,894 shares in the last quarter. Finally, Horizon Investments LLC grew its holdings in RenaissanceRe by 247,520.0% during the 4th quarter. Horizon Investments LLC now owns 24,762 shares of the insurance provider’s stock valued at $6,962,000 after purchasing an additional 24,752 shares in the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

RenaissanceRe Trading Down 0.2%

NYSE RNR opened at $320.86 on Wednesday. The company has a market capitalization of $13.68 billion, a price-to-earnings ratio of 5.35, a price-to-earnings-growth ratio of 1.25 and a beta of 0.17. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.37. RenaissanceRe Holdings Ltd. has a 12 month low of $231.17 and a 12 month high of $329.57. The company’s fifty day moving average price is $303.24 and its two-hundred day moving average price is $297.63.

RenaissanceRe (NYSE:RNR) last released its earnings results on Tuesday, March 31st. The insurance provider reported $13.75 earnings per share for the quarter. The company had revenue of $2.19 billion during the quarter. RenaissanceRe had a net margin of 24.25% and a return on equity of 24.01%. As a group, research analysts predict that RenaissanceRe Holdings Ltd. will post 40.57 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Monday, June 15th. RenaissanceRe’s dividend payout ratio (DPR) is 2.73%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. UBS Group boosted their price objective on shares of RenaissanceRe from $326.00 to $342.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. TD Cowen raised their target price on RenaissanceRe from $300.00 to $315.00 and gave the company a “hold” rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. lifted their target price on RenaissanceRe from $329.00 to $360.00 and gave the stock a “neutral” rating in a research report on Monday. Wall Street Zen cut RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Cantor Fitzgerald increased their price target on RenaissanceRe from $340.00 to $354.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Five investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $333.87.

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.