JPMorgan Chase & Co. Has $30.04 Million Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

JPMorgan Chase & Co. raised its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 120,718 shares of the insurance provider’s stock after purchasing an additional 4,131 shares during the quarter. JPMorgan Chase & Co.’s holdings in RenaissanceRe were worth $30,036,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. FMR LLC lifted its stake in RenaissanceRe by 13.8% in the 3rd quarter. FMR LLC now owns 2,687 shares of the insurance provider’s stock valued at $732,000 after acquiring an additional 326 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of RenaissanceRe by 47.8% in the third quarter. HighTower Advisors LLC now owns 12,224 shares of the insurance provider’s stock worth $3,342,000 after purchasing an additional 3,954 shares in the last quarter. Quantinno Capital Management LP acquired a new position in RenaissanceRe during the third quarter worth $325,000. Stifel Financial Corp grew its position in RenaissanceRe by 5.8% in the third quarter. Stifel Financial Corp now owns 13,312 shares of the insurance provider’s stock valued at $3,626,000 after purchasing an additional 733 shares in the last quarter. Finally, MML Investors Services LLC increased its stake in RenaissanceRe by 4.7% in the 3rd quarter. MML Investors Services LLC now owns 9,532 shares of the insurance provider’s stock valued at $2,596,000 after buying an additional 429 shares during the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

RenaissanceRe Trading Up 2.0 %

Shares of RNR stock opened at $224.73 on Wednesday. RenaissanceRe Holdings Ltd. has a 12-month low of $208.98 and a 12-month high of $300.00. The company has a market capitalization of $11.01 billion, a PE ratio of 6.42, a price-to-earnings-growth ratio of 2.09 and a beta of 0.29. The firm has a 50 day moving average price of $236.65 and a two-hundred day moving average price of $255.11. 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 results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share for the quarter, topping 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%. As a group, analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.40 dividend. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a dividend yield of 0.71%. The ex-dividend date was Friday, March 14th. RenaissanceRe’s payout ratio is 4.57%.

Analyst Ratings Changes

A number of research firms have recently commented on RNR. Keefe, Bruyette & Woods reduced their price objective on shares of RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a research note on Tuesday, February 4th. JMP Securities restated a “market perform” rating on shares of RenaissanceRe in a research note on Thursday, January 30th. Morgan Stanley lowered their price target on RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. JPMorgan Chase & Co. raised RenaissanceRe from a “neutral” rating to an “overweight” rating and set a $284.00 price objective for the company in a report on Tuesday. Finally, Jefferies Financial Group restated a “hold” rating and set a $282.00 target price (down from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $283.40.

Insider Buying and Selling

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total value of $254,160.00. Following the transaction, the executive vice president now directly owns 79,392 shares of the company’s stock, valued at $20,178,270.72. This trade represents a 1.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is currently owned by company insiders.

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.