Lightrock Netherlands B.V. Buys New Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Lightrock Netherlands B.V. purchased a new position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) during the fourth quarter, Holdings Channel.com reports. The fund purchased 18,426 shares of the insurance provider’s stock, valued at approximately $4,607,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. ORG Wealth Partners LLC purchased a new stake in RenaissanceRe during the 3rd quarter worth approximately $30,000. MassMutual Private Wealth & Trust FSB increased its position in shares of RenaissanceRe by 51.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 41 shares during the period. UMB Bank n.a. raised its stake in shares of RenaissanceRe by 316.7% in the third quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 95 shares in the last quarter. Advisors Asset Management Inc. purchased a new position in RenaissanceRe in the third quarter valued at $45,000. Finally, V Square Quantitative Management LLC grew its stake in RenaissanceRe by 29.5% during the 3rd quarter. V Square Quantitative Management LLC now owns 180 shares of the insurance provider’s stock worth $49,000 after purchasing an additional 41 shares in the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

RenaissanceRe Stock Down 2.3 %

RNR opened at $234.09 on Tuesday. RenaissanceRe Holdings Ltd. has a one year low of $208.98 and a one year high of $300.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.42. The stock has a market capitalization of $12.16 billion, a P/E ratio of 6.68, a price-to-earnings-growth ratio of 1.91 and a beta of 0.43. The business’s 50-day simple moving average is $253.99 and its 200-day simple moving average is $258.03.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 EPS for the quarter, topping the consensus estimate of $6.94 by $1.12. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. Analysts anticipate that RenaissanceRe Holdings Ltd. will post 29.92 EPS for the current year.

RenaissanceRe Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.60 dividend on an annualized basis and a yield of 0.68%. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s dividend payout ratio is currently 4.45%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on RNR shares. Barclays cut RenaissanceRe from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $284.00 to $234.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods decreased their price target on shares of RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a research note on Tuesday, February 4th. Evercore ISI increased their price objective on shares of RenaissanceRe from $229.00 to $246.00 and gave the company an “underperform” rating in a research report on Thursday, November 7th. Morgan Stanley decreased their price objective on shares of RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Finally, JMP Securities reissued a “market perform” rating on shares of RenaissanceRe in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $279.90.

Insiders Place Their Bets

In other news, EVP David E. Marra sold 1,000 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total transaction of $254,160.00. Following the completion of the sale, the executive vice president now owns 79,392 shares in the company, valued at approximately $20,178,270.72. This represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is currently owned by insiders.

About RenaissanceRe

RenaissanceRe Holdings Ltd., together with its subsidiaries, 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 reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as 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.