Dimensional Fund Advisors LP Has $139.58 Million Stock Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Dimensional Fund Advisors LP raised its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 21.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 624,469 shares of the insurance provider’s stock after purchasing an additional 109,851 shares during the period. Dimensional Fund Advisors LP’s holdings in RenaissanceRe were worth $139,579,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. CWM LLC raised its holdings in RenaissanceRe by 8.7% in the 1st quarter. CWM LLC now owns 610 shares of the insurance provider’s stock valued at $143,000 after acquiring an additional 49 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in RenaissanceRe by 0.9% in the 1st quarter. State of Alaska Department of Revenue now owns 5,714 shares of the insurance provider’s stock valued at $1,342,000 after acquiring an additional 50 shares in the last quarter. Hilltop National Bank grew its stake in shares of RenaissanceRe by 14.9% in the 2nd quarter. Hilltop National Bank now owns 400 shares of the insurance provider’s stock valued at $89,000 after purchasing an additional 52 shares during the period. Steward Partners Investment Advisory LLC grew its stake in shares of RenaissanceRe by 1.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,926 shares of the insurance provider’s stock valued at $965,000 after purchasing an additional 73 shares during the period. Finally, Benedict Financial Advisors Inc. grew its stake in shares of RenaissanceRe by 0.6% in the 1st quarter. Benedict Financial Advisors Inc. now owns 12,196 shares of the insurance provider’s stock valued at $2,866,000 after purchasing an additional 77 shares during the period. Institutional investors and hedge funds own 99.97% of the company’s stock.

Wall Street Analysts Forecast Growth

RNR has been the topic of several analyst reports. Wells Fargo & Company lowered their price objective on RenaissanceRe from $288.00 to $280.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. StockNews.com lowered RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. increased their price target on RenaissanceRe from $265.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. UBS Group decreased their price target on RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Finally, Citigroup upped their price objective on RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $272.60.

Insider Buying and Selling

In related news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $230.00, for a total transaction of $230,000.00. Following the sale, the executive vice president now owns 85,544 shares of the company’s stock, valued at approximately $19,675,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $230.00, for a total transaction of $230,000.00. Following the sale, the executive vice president now owns 85,544 shares of the company’s stock, valued at approximately $19,675,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert Qutub sold 2,500 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $224.56, for a total value of $561,400.00. Following the sale, the chief financial officer now directly owns 73,915 shares in the company, valued at approximately $16,598,352.40. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

RenaissanceRe Stock Performance

RNR stock opened at $263.67 on Friday. The business’s fifty day moving average is $242.87 and its 200-day moving average is $231.32. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21. The company has a market cap of $13.75 billion, a P/E ratio of 5.83, a price-to-earnings-growth ratio of 1.45 and a beta of 0.38. RenaissanceRe Holdings Ltd. has a twelve month low of $188.24 and a twelve month high of $268.61.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings results on Wednesday, July 24th. The insurance provider reported $12.41 earnings per share for the quarter, beating analysts’ consensus estimates of $10.88 by $1.53. The company had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.93 billion. RenaissanceRe had a return on equity of 27.74% and a net margin of 25.38%. Equities research analysts forecast that RenaissanceRe Holdings Ltd. will post 39.01 EPS for the current year.

RenaissanceRe Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.59%. The ex-dividend date is Friday, September 13th. RenaissanceRe’s payout ratio is presently 3.45%.

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.