Fideuram Intesa Sanpaolo Private Banking S.P.A. Buys Shares of 12,882 RenaissanceRe Holdings Ltd. $RNR

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) during the fourth quarter, Holdings Channel.com reports. The fund bought 12,882 shares of the insurance provider’s stock, valued at approximately $3,622,000.

Other hedge funds also recently modified their holdings of the company. Y Intercept Hong Kong Ltd boosted its position in shares of RenaissanceRe by 812.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 17,078 shares of the insurance provider’s stock valued at $4,337,000 after acquiring an additional 15,207 shares during the period. Diamond Hill Capital Management Inc. boosted its position in shares of RenaissanceRe by 16.0% in the third quarter. Diamond Hill Capital Management Inc. now owns 119,240 shares of the insurance provider’s stock valued at $30,279,000 after acquiring an additional 16,448 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of RenaissanceRe by 4.8% in 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 acquiring an additional 45,936 shares during the period. New Age Alpha Advisors LLC boosted its position in shares of RenaissanceRe by 97.2% in the third quarter. New Age Alpha Advisors LLC now owns 20,800 shares of the insurance provider’s stock valued at $5,165,000 after acquiring an additional 10,250 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of RenaissanceRe by 135.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 195,975 shares of the insurance provider’s stock valued at $55,100,000 after acquiring an additional 112,910 shares during the period. 99.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RNR. Cantor Fitzgerald raised RenaissanceRe from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $306.00 to $340.00 in a research report on Thursday, April 9th. Mizuho set a $325.00 price objective on RenaissanceRe in a research report on Monday, May 4th. Evercore set a $309.00 price objective on RenaissanceRe in a research report on Thursday, April 9th. Citigroup increased their price objective on RenaissanceRe from $333.00 to $335.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Finally, Wells Fargo & Company increased their price objective on RenaissanceRe from $305.00 to $306.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Four equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, RenaissanceRe currently has an average rating of “Hold” and an average price target of $322.93.

RenaissanceRe Stock Up 0.5%

Shares of RNR stock opened at $303.41 on Thursday. The stock has a market cap of $12.93 billion, a P/E ratio of 5.06, a price-to-earnings-growth ratio of 0.81 and a beta of 0.22. RenaissanceRe Holdings Ltd. has a one year low of $231.17 and a one year high of $318.20. The stock has a fifty day moving average price of $300.82 and a 200 day moving average price of $286.48. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.37.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Tuesday, March 31st. The insurance provider reported $13.75 EPS for the quarter. The firm had revenue of $2.19 billion during the quarter. RenaissanceRe had a return on equity of 24.01% and a net margin of 24.25%. Analysts predict that RenaissanceRe Holdings Ltd. will post 39.37 earnings per share for the current year.

RenaissanceRe Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, June 15th. RenaissanceRe’s dividend payout ratio (DPR) is 2.73%.

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.