Mercer Global Advisors Inc. ADV Purchases 164 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Mercer Global Advisors Inc. ADV increased its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 15.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,209 shares of the insurance provider’s stock after buying an additional 164 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in RenaissanceRe were worth $301,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of RNR. First Trust Advisors LP grew its holdings in shares of RenaissanceRe by 462.8% during the fourth quarter. First Trust Advisors LP now owns 864,252 shares of the insurance provider’s stock worth $215,035,000 after buying an additional 710,698 shares in the last quarter. Norges Bank bought a new position in RenaissanceRe in the fourth quarter valued at approximately $173,530,000. Boston Partners grew its stake in RenaissanceRe by 28.5% in the fourth quarter. Boston Partners now owns 2,013,382 shares of the insurance provider’s stock valued at $500,991,000 after purchasing an additional 446,781 shares in the last quarter. Capital World Investors grew its stake in RenaissanceRe by 8.8% in the fourth quarter. Capital World Investors now owns 2,882,835 shares of the insurance provider’s stock valued at $717,278,000 after purchasing an additional 233,708 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in RenaissanceRe by 24.3% in the fourth quarter. Geode Capital Management LLC now owns 1,144,805 shares of the insurance provider’s stock valued at $284,907,000 after purchasing an additional 223,991 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Bank of America decreased their price target on RenaissanceRe from $437.00 to $426.00 and set a “buy” rating for the company in a research note on Wednesday, March 26th. JMP Securities restated a “market perform” rating on shares of RenaissanceRe in a research note on Thursday, April 24th. Wells Fargo & Company decreased their price target on RenaissanceRe from $277.00 to $271.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Barclays decreased their price target on RenaissanceRe from $234.00 to $231.00 and set an “underweight” rating for the company in a research note on Friday, April 11th. Finally, Keefe, Bruyette & Woods raised their price target on RenaissanceRe from $279.00 to $282.00 and gave the company an “outperform” rating in a research note on Tuesday, April 29th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $282.60.

Insider Activity at RenaissanceRe

In related news, CAO James Christopher Fraser sold 332 shares of the business’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $249.54, for a total value of $82,847.28. Following the completion of the sale, the chief accounting officer now directly owns 27,154 shares in the company, valued at $6,776,009.16. The trade was a 1.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.00% of the stock is currently owned by corporate insiders.

RenaissanceRe Stock Performance

RNR opened at $242.88 on Friday. RenaissanceRe Holdings Ltd. has a 12-month low of $208.98 and a 12-month high of $300.00. The stock has a market cap of $11.82 billion, a price-to-earnings ratio of 6.94, a PEG ratio of 2.09 and a beta of 0.34. The business has a 50 day moving average of $239.92 and a 200-day moving average of $249.29. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($1.17). The business had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.36 billion. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business earned $12.18 earnings per share. On average, equities research analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.40 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.60 annualized dividend and a yield of 0.66%. RenaissanceRe’s dividend payout ratio (DPR) is presently 5.10%.

RenaissanceRe 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.