RenaissanceRe Holdings Ltd. (NYSE:RNR) Holdings Lifted by Epoch Investment Partners Inc.

Epoch Investment Partners Inc. grew its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 132.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,076 shares of the insurance provider’s stock after buying an additional 5,176 shares during the period. Epoch Investment Partners Inc.’s holdings in RenaissanceRe were worth $2,133,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in RNR. Vanguard Group Inc. boosted its position in RenaissanceRe by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 5,565,691 shares of the insurance provider’s stock worth $1,090,875,000 after acquiring an additional 148,173 shares during the period. Bank of New York Mellon Corp grew its position in RenaissanceRe by 4.7% in the 1st quarter. Bank of New York Mellon Corp now owns 2,752,016 shares of the insurance provider’s stock valued at $646,806,000 after buying an additional 124,039 shares in the last quarter. Capital World Investors grew its position in RenaissanceRe by 1.0% in the 4th quarter. Capital World Investors now owns 2,539,332 shares of the insurance provider’s stock valued at $497,709,000 after buying an additional 25,898 shares in the last quarter. Capital Research Global Investors increased its stake in RenaissanceRe by 5.3% during the 4th quarter. Capital Research Global Investors now owns 1,423,281 shares of the insurance provider’s stock valued at $278,963,000 after buying an additional 71,377 shares during the period. Finally, American International Group Inc. raised its position in shares of RenaissanceRe by 1,829.6% during the 4th quarter. American International Group Inc. now owns 1,393,546 shares of the insurance provider’s stock worth $273,135,000 after buying an additional 1,321,325 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on RNR shares. Morgan Stanley lowered their price objective on shares of RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Bank of America boosted their price objective on RenaissanceRe from $334.00 to $347.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. JPMorgan Chase & Co. raised their target price on RenaissanceRe from $265.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday. Wells Fargo & Company dropped their price target on shares of RenaissanceRe from $288.00 to $280.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, UBS Group reduced their price objective on shares of RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $263.40.

RenaissanceRe Stock Performance

RenaissanceRe stock opened at $224.50 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market cap of $11.87 billion, a P/E ratio of 4.96, a price-to-earnings-growth ratio of 1.26 and a beta of 0.38. RenaissanceRe Holdings Ltd. has a fifty-two week low of $174.22 and a fifty-two week high of $239.42. The firm’s 50 day simple moving average is $223.97 and its 200-day simple moving average is $223.80.

RenaissanceRe (NYSE:RNR) last announced its earnings results on Tuesday, April 30th. The insurance provider reported $12.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.86 by $2.32. RenaissanceRe had a net margin of 25.38% and a return on equity of 27.74%. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the previous year, the business earned $8.16 EPS. The company’s revenue was up 41.3% on a year-over-year basis. As a group, equities research analysts predict that RenaissanceRe Holdings Ltd. will post 37.43 EPS for the current year.

RenaissanceRe Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $0.39 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.69%. RenaissanceRe’s dividend payout ratio is 3.45%.

Insider Transactions at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $230.00, for a total value of $230,000.00. Following the transaction, the executive vice president now owns 85,544 shares in the company, valued at approximately $19,675,120. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.30% of the stock is owned by 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.