Cooke & Bieler LP Has $213.44 Million Stock Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Cooke & Bieler LP boosted its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 97.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,088,978 shares of the insurance provider’s stock after buying an additional 538,636 shares during the period. RenaissanceRe makes up about 1.9% of Cooke & Bieler LP’s holdings, making the stock its 12th biggest position. Cooke & Bieler LP owned approximately 2.13% of RenaissanceRe worth $213,440,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Zimmer Partners LP acquired a new position in RenaissanceRe in the 2nd quarter worth about $75,541,000. Balyasny Asset Management L.P. increased its position in RenaissanceRe by 340.4% in the 1st quarter. Balyasny Asset Management L.P. now owns 373,468 shares of the insurance provider’s stock worth $74,821,000 after purchasing an additional 288,657 shares during the last quarter. Bank of New York Mellon Corp increased its position in RenaissanceRe by 20.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,451,530 shares of the insurance provider’s stock worth $287,287,000 after purchasing an additional 249,196 shares during the last quarter. Norges Bank acquired a new position in RenaissanceRe in the 4th quarter worth about $40,533,000. Finally, AQR Capital Management LLC increased its position in RenaissanceRe by 226.8% in the 3rd quarter. AQR Capital Management LLC now owns 280,666 shares of the insurance provider’s stock worth $55,549,000 after purchasing an additional 194,774 shares during the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

RenaissanceRe Price Performance

Shares of NYSE:RNR opened at $224.74 on Friday. The business has a 50 day moving average price of $227.55 and a 200 day moving average price of $215.71. RenaissanceRe Holdings Ltd. has a twelve month low of $174.22 and a twelve month high of $239.42. The company has a market cap of $11.85 billion, a price-to-earnings ratio of 4.39, a PEG ratio of 2.98 and a beta of 0.30. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.23.

RenaissanceRe (NYSE:RNR) last announced its earnings results on Tuesday, January 30th. The insurance provider reported $11.77 earnings per share for the quarter, beating the consensus estimate of $8.13 by $3.64. RenaissanceRe had a return on equity of 26.93% and a net margin of 28.04%. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the prior year, the company earned $7.33 EPS. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. Research analysts predict that RenaissanceRe Holdings Ltd. will post 34.41 earnings per share for the current year.

RenaissanceRe Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.39 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.69%. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.38. RenaissanceRe’s dividend payout ratio (DPR) is currently 3.05%.

Insiders Place Their Bets

In other RenaissanceRe news, EVP David E. Marra sold 750 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $229.00, for a total value of $171,750.00. Following the completion of the sale, the executive vice president now owns 79,699 shares in the company, valued at approximately $18,251,071. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other RenaissanceRe news, Director Carol P. Sanders sold 880 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $227.59, for a total value of $200,279.20. Following the completion of the sale, the director now owns 5,363 shares in the company, valued at approximately $1,220,565.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David E. Marra sold 750 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $229.00, for a total value of $171,750.00. Following the completion of the sale, the executive vice president now owns 79,699 shares of the company’s stock, valued at approximately $18,251,071. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,130 shares of company stock worth $958,429. 1.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

RNR has been the topic of a number of analyst reports. BMO Capital Markets increased their price objective on RenaissanceRe from $216.00 to $295.00 and gave the company an “outperform” rating in a report on Monday, February 5th. UBS Group increased their price objective on RenaissanceRe from $229.00 to $238.00 and gave the company a “neutral” rating in a report on Monday, February 5th. TD Cowen initiated coverage on RenaissanceRe in a report on Wednesday, January 10th. They set a “market perform” rating on the stock. Evercore ISI increased their price objective on RenaissanceRe from $213.00 to $216.00 and gave the company an “underperform” rating in a report on Thursday, April 11th. Finally, JPMorgan Chase & Co. increased their price objective on RenaissanceRe from $204.00 to $237.00 and gave the company a “neutral” rating in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $247.89.

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.