Robeco Institutional Asset Management B.V. Buys 112,910 Shares of RenaissanceRe Holdings Ltd. $RNR

Robeco Institutional Asset Management B.V. raised its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 135.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 195,975 shares of the insurance provider’s stock after purchasing an additional 112,910 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in RenaissanceRe were worth $55,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Capital World Investors lifted its position in RenaissanceRe by 0.3% during the third quarter. Capital World Investors now owns 2,649,518 shares of the insurance provider’s stock valued at $672,792,000 after purchasing an additional 7,839 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in RenaissanceRe by 4.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,001,410 shares of the insurance provider’s stock valued at $254,273,000 after purchasing an additional 45,936 shares during the last quarter. Bank of America Corp DE lifted its position in RenaissanceRe by 17.6% during the second quarter. Bank of America Corp DE now owns 803,547 shares of the insurance provider’s stock valued at $195,182,000 after purchasing an additional 120,063 shares during the last quarter. Invesco Ltd. lifted its position in RenaissanceRe by 6.2% during the third quarter. Invesco Ltd. now owns 618,974 shares of the insurance provider’s stock valued at $157,176,000 after purchasing an additional 36,254 shares during the last quarter. Finally, Great Lakes Advisors LLC lifted its position in RenaissanceRe by 12.2% during the third quarter. Great Lakes Advisors LLC now owns 490,283 shares of the insurance provider’s stock valued at $124,498,000 after purchasing an additional 53,303 shares during the last quarter. 99.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Robert Qutub sold 5,000 shares of the company’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $305.75, for a total transaction of $1,528,750.00. Following the completion of the sale, the executive vice president directly owned 73,023 shares in the company, valued at $22,326,782.25. This represents a 6.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.30% of the stock is owned by corporate insiders.

RenaissanceRe Trading Up 1.6%

NYSE:RNR opened at $307.77 on Tuesday. The company has a fifty day moving average of $298.81 and a 200 day moving average of $277.46. RenaissanceRe Holdings Ltd. has a 52 week low of $222.75 and a 52 week high of $315.88. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $13.28 billion, a P/E ratio of 5.43, a P/E/G ratio of 0.69 and a beta of 0.24.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings results on Tuesday, February 3rd. The insurance provider reported $13.34 EPS for the quarter, beating analysts’ consensus estimates of $10.59 by $2.75. RenaissanceRe had a net margin of 20.88% and a return on equity of 18.29%. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the business posted $8.06 EPS. The firm’s revenue was up 29.6% compared to the same quarter last year. On average, research analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were issued a dividend of $0.41 per share. The ex-dividend date was Friday, March 13th. This represents a $1.64 dividend on an annualized basis and a yield of 0.5%. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.40. RenaissanceRe’s dividend payout ratio (DPR) is currently 2.89%.

Analyst Ratings Changes

Several equities research analysts have issued reports on RNR shares. TD Cowen lifted their target price on shares of RenaissanceRe from $280.00 to $290.00 and gave the company a “hold” rating in a research report on Thursday, February 26th. The Goldman Sachs Group restated a “sell” rating and issued a $267.00 price objective on shares of RenaissanceRe in a report on Wednesday, January 7th. Cantor Fitzgerald upgraded shares of RenaissanceRe from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $306.00 to $340.00 in a report on Thursday, April 9th. Barclays boosted their price objective on shares of RenaissanceRe from $310.00 to $341.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 8th. Finally, Evercore set a $309.00 price objective on shares of RenaissanceRe in a report on Thursday. Three investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $314.69.

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.