Boston Partners Grows Holdings in RenaissanceRe Holdings Ltd. $RNR

Boston Partners lifted its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 9.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,423,483 shares of the insurance provider’s stock after acquiring an additional 128,245 shares during the quarter. Boston Partners’ holdings in RenaissanceRe were worth $400,150,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in RNR. SBI Securities Co. Ltd. raised its holdings in RenaissanceRe by 33.6% during the 4th quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock valued at $41,000 after buying an additional 37 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in RenaissanceRe by 20.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 230 shares of the insurance provider’s stock valued at $65,000 after buying an additional 39 shares during the last quarter. AMG National Trust Bank raised its holdings in RenaissanceRe by 0.7% during the 3rd quarter. AMG National Trust Bank now owns 5,787 shares of the insurance provider’s stock valued at $1,469,000 after buying an additional 40 shares during the last quarter. Signaturefd LLC raised its holdings in RenaissanceRe by 8.9% during the 4th quarter. Signaturefd LLC now owns 504 shares of the insurance provider’s stock valued at $142,000 after buying an additional 41 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in RenaissanceRe by 2.6% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 2,006 shares of the insurance provider’s stock valued at $509,000 after buying an additional 51 shares during the last quarter. 99.97% of the stock is currently owned by institutional investors.

RenaissanceRe Price Performance

Shares of NYSE:RNR opened at $300.49 on Friday. 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 Holdings Ltd. has a 1-year low of $231.17 and a 1-year high of $318.20. The company has a market capitalization of $12.81 billion, a P/E ratio of 5.01, a P/E/G ratio of 1.12 and a beta of 0.18. The firm’s 50 day simple moving average is $299.00 and its two-hundred day simple moving average is $289.32.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings data on Tuesday, March 31st. The insurance provider reported $13.75 earnings per share (EPS) for the quarter. The firm had revenue of $2.19 billion for the quarter. RenaissanceRe had a net margin of 24.25% and a return on equity of 24.01%. Research analysts expect that RenaissanceRe Holdings Ltd. will post 40.05 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.41 per share. 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 payout ratio is presently 2.73%.

Wall Street Analysts Forecast Growth

RNR has been the subject of a number of recent analyst reports. Weiss Ratings lowered shares of RenaissanceRe from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday. Barclays reduced their price objective on shares of RenaissanceRe from $341.00 to $328.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 29th. Mizuho set a $325.00 price objective on shares of RenaissanceRe in a research report on Monday, May 4th. Cantor Fitzgerald raised shares of RenaissanceRe from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $306.00 to $340.00 in a research report on Thursday, April 9th. Finally, TD Cowen boosted their price objective 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. Five investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, RenaissanceRe currently has an average rating of “Hold” and an average target price of $323.64.

RenaissanceRe Company Profile

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.