Geode Capital Management LLC Has $245.81 Million Holdings in RenaissanceRe Holdings Ltd. $RNR

Geode Capital Management LLC cut its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 0.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 874,098 shares of the insurance provider’s stock after selling 6,786 shares during the quarter. Geode Capital Management LLC owned approximately 1.90% of RenaissanceRe worth $245,812,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of RNR. Lightrock Netherlands B.V. boosted its position in shares of RenaissanceRe by 4,690.1% during the 4th quarter. Lightrock Netherlands B.V. now owns 1,017,508 shares of the insurance provider’s stock valued at $286,083,000 after acquiring an additional 996,266 shares in the last quarter. M&T Bank Corp boosted its position in shares of 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 acquiring an additional 286,894 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of RenaissanceRe by 154.5% during the 3rd quarter. AQR Capital Management LLC now owns 397,027 shares of the insurance provider’s stock valued at $99,769,000 after acquiring an additional 241,001 shares in the last quarter. Millennium Management LLC boosted its position in shares of RenaissanceRe by 347.6% during the 3rd quarter. Millennium Management LLC now owns 236,919 shares of the insurance provider’s stock valued at $60,161,000 after acquiring an additional 183,988 shares in the last quarter. Finally, Two Sigma Investments LP boosted its position in shares of RenaissanceRe by 330.0% during the 3rd quarter. Two Sigma Investments LP now owns 174,368 shares of the insurance provider’s stock valued at $44,277,000 after acquiring an additional 133,820 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.

RenaissanceRe Trading Up 0.2%

Shares of NYSE RNR opened at $278.14 on Wednesday. RenaissanceRe Holdings Ltd. has a 1-year low of $231.17 and a 1-year high of $318.20. The company has a market cap of $11.86 billion, a PE ratio of 4.64, a P/E/G ratio of 0.76 and a beta of 0.18. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average of $300.23 and a two-hundred day moving average of $287.97.

RenaissanceRe (NYSE:RNR) last announced its earnings results on Tuesday, March 31st. The insurance provider reported $13.75 earnings per share for the quarter. RenaissanceRe had a net margin of 24.25% and a return on equity of 24.01%. The company had revenue of $2.19 billion during the quarter. As a group, equities analysts expect that RenaissanceRe Holdings Ltd. will post 40.02 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, June 15th. RenaissanceRe’s payout ratio is 2.73%.

Analyst Ratings Changes

RNR has been the topic of several recent research reports. Wall Street Zen lowered shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Wells Fargo & Company boosted their price target on shares of RenaissanceRe from $305.00 to $306.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Bank of America reduced their price target on shares of RenaissanceRe to $426.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Keefe, Bruyette & Woods boosted their price target on shares of RenaissanceRe from $323.00 to $327.00 and gave the company a “market perform” rating in a research report on Tuesday, April 7th. Finally, Citigroup boosted their price target on shares of RenaissanceRe from $333.00 to $335.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Four analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $322.93.

About RenaissanceRe

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.