Cooke & Bieler LP trimmed its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR – Get Rating) by 3.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 779,422 shares of the insurance provider's stock after selling 31,360 shares during the period. Cooke & Bieler LP owned about 1.76% of RenaissanceRe worth $121,878,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp increased its position in RenaissanceRe by 93.9% during the first quarter. Bank of New York Mellon Corp now owns 923,936 shares of the insurance provider's stock worth $146,454,000 after buying an additional 447,540 shares in the last quarter. SRB Corp increased its position in RenaissanceRe by 206.1% during the 4th quarter. SRB Corp now owns 478,529 shares of the insurance provider's stock worth $81,029,000 after purchasing an additional 322,200 shares in the last quarter. JPMorgan Chase & Co. increased its position in RenaissanceRe by 25.4% during the 1st quarter. JPMorgan Chase & Co. now owns 1,030,743 shares of the insurance provider's stock worth $163,382,000 after purchasing an additional 208,690 shares in the last quarter. Kingdon Capital Management L.L.C. acquired a new position in RenaissanceRe in the 4th quarter valued at about $29,633,000. Finally, Southeastern Asset Management Inc. TN lifted its holdings in RenaissanceRe by 16.9% in the 4th quarter. Southeastern Asset Management Inc. TN now owns 1,062,630 shares of the insurance provider's stock valued at $179,935,000 after purchasing an additional 153,677 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at RenaissanceRe

In related news, Director Brian Gerald John Gray bought 7,500 shares of the business's stock in a transaction on Wednesday, August 10th. The shares were bought at an average cost of $130.62 per share, for a total transaction of $979,650.00. Following the completion of the purchase, the director now owns 23,621 shares of the company's stock, valued at approximately $3,085,375.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.30% of the company's stock.

RenaissanceRe Stock Performance

RenaissanceRe (NYSE:RNR – Get Rating) last released its quarterly earnings data on Monday, July 25th. The insurance provider reported $5.51 EPS for the quarter, topping analysts' consensus estimates of $5.05 by $0.46. RenaissanceRe had a negative net margin of 19.70% and a positive return on equity of 3.88%. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the company posted $5.64 earnings per share. The firm's revenue was up 23.2% on a year-over-year basis. Research analysts forecast that RenaissanceRe Holdings Ltd. will post 14.44 earnings per share for the current year.

RenaissanceRe Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Wednesday, September 14th. RenaissanceRe's dividend payout ratio (DPR) is -6.81%.

Wall Street Analysts Forecast Growth

RNR has been the subject of a number of recent research reports. Jefferies Financial Group downgraded shares of RenaissanceRe from a "buy" rating to a "hold" rating and lowered their price target for the stock from $173.00 to $162.00 in a report on Tuesday, July 12th. Morgan Stanley lowered their target price on shares of RenaissanceRe from $162.00 to $150.00 and set an "equal weight" rating for the company in a research note on Friday, August 19th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $176.67.

RenaissanceRe Profile

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RenaissanceRe Holdings Ltd. 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 retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising 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.

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