Geode Capital Management LLC Has $284.91 Million Stock Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Geode Capital Management LLC boosted its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 24.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,144,805 shares of the insurance provider’s stock after purchasing an additional 223,991 shares during the period. Geode Capital Management LLC owned about 2.20% of RenaissanceRe worth $284,907,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of RNR. Franklin Resources Inc. acquired a new stake in shares of RenaissanceRe in the fourth quarter valued at approximately $1,086,000. Brown Brothers Harriman & Co. lifted its holdings in RenaissanceRe by 3.7% during the 4th quarter. Brown Brothers Harriman & Co. now owns 5,167 shares of the insurance provider’s stock valued at $1,286,000 after purchasing an additional 184 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in RenaissanceRe by 9.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 7,300 shares of the insurance provider’s stock worth $1,816,000 after purchasing an additional 610 shares during the period. New Age Alpha Advisors LLC acquired a new position in shares of RenaissanceRe in the fourth quarter valued at $1,933,000. Finally, Norges Bank bought a new position in shares of RenaissanceRe in the fourth quarter valued at about $173,530,000. Institutional investors own 99.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RNR. Keefe, Bruyette & Woods reduced their target price on shares of RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a report on Tuesday, February 4th. Bank of America reduced their price objective on RenaissanceRe from $437.00 to $426.00 and set a “buy” rating for the company in a report on Wednesday, March 26th. Morgan Stanley lowered their target price on RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Jefferies Financial Group restated a “hold” rating and issued a $282.00 price target (down from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. increased their price objective on RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a research report on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, RenaissanceRe presently has a consensus rating of “Hold” and a consensus price target of $283.40.

Insider Transactions at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total transaction of $254,160.00. Following the completion of the transaction, the executive vice president now owns 79,392 shares of the company’s stock, valued at approximately $20,178,270.72. This trade represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.

RenaissanceRe Price Performance

RNR stock opened at $233.04 on Friday. The company’s 50-day moving average price is $238.43 and its two-hundred day moving average price is $255.93. RenaissanceRe Holdings Ltd. has a 12 month low of $208.98 and a 12 month high of $300.00. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. The firm has a market cap of $11.42 billion, a P/E ratio of 6.65, a P/E/G ratio of 2.09 and a beta of 0.29.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share for the quarter, beating the consensus estimate of $6.94 by $1.12. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. On average, analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share 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 paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.69%. 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 dividend payout ratio (DPR) is presently 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.