Lecap Asset Management Ltd. Has $401,000 Position in RenaissanceRe Holdings Ltd. $RNR

Lecap Asset Management Ltd. cut its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 72.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,428 shares of the insurance provider’s stock after selling 3,708 shares during the period. Lecap Asset Management Ltd.’s holdings in RenaissanceRe were worth $401,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Capital World Investors lifted its stake in RenaissanceRe by 0.3% in the third quarter. Capital World Investors now owns 2,649,518 shares of the insurance provider’s stock valued at $672,792,000 after buying an additional 7,839 shares during the period. Lightrock Netherlands B.V. lifted 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 during the period. Dimensional Fund Advisors LP lifted its position in shares of RenaissanceRe by 4.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,001,410 shares of the insurance provider’s stock valued at $254,273,000 after acquiring an additional 45,936 shares during the period. Bank of America Corp DE boosted its stake 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 worth $195,182,000 after acquiring an additional 120,063 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in RenaissanceRe by 6.2% in the third quarter. Invesco Ltd. now owns 618,974 shares of the insurance provider’s stock worth $157,176,000 after purchasing an additional 36,254 shares during the period. Institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Performance

Shares of RenaissanceRe stock opened at $312.65 on Tuesday. RenaissanceRe Holdings Ltd. has a 52 week low of $222.75 and a 52 week high of $318.20. 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 business has a 50 day moving average price of $300.40 and a 200-day moving average price of $279.52. The company has a market cap of $13.49 billion, a PE ratio of 5.52, a price-to-earnings-growth ratio of 0.73 and a beta of 0.24.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Tuesday, February 3rd. The insurance provider reported $13.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.59 by $2.75. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $1.73 billion. RenaissanceRe had a return on equity of 18.29% and a net margin of 20.88%.RenaissanceRe’s revenue was up 29.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $8.06 earnings per share. Equities analysts anticipate that RenaissanceRe Holdings Ltd. will post 38.38 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

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

Analysts Set New Price Targets

Several research firms have weighed in on RNR. JPMorgan Chase & Co. lifted their price target on shares of RenaissanceRe from $303.00 to $329.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Morgan Stanley lowered RenaissanceRe from an “overweight” rating to an “equal weight” rating and set a $310.00 target price for the company. in a research report on Thursday, February 26th. Citigroup increased their price target on RenaissanceRe from $328.00 to $333.00 and gave the stock a “neutral” rating in a report on Wednesday, February 18th. Weiss Ratings restated a “buy (b)” rating on shares of RenaissanceRe in a report on Friday, March 27th. Finally, Barclays increased their target price on RenaissanceRe from $310.00 to $341.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 8th. Four analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $322.64.

Insider Activity at RenaissanceRe

In other news, EVP Robert Qutub sold 5,000 shares of the stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $305.75, for a total value of $1,528,750.00. Following the completion of the sale, the executive vice president owned 73,023 shares in the company, valued at $22,326,782.25. This represents a 6.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

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.