Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 154.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 11,200 shares of the insurance provider’s stock after acquiring an additional 6,800 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in RenaissanceRe were worth $1,857,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the company. Voloridge Investment Management LLC bought a new stake in shares of RenaissanceRe during the 4th quarter worth $16,280,000. Schonfeld Strategic Advisors LLC lifted its position in shares of RenaissanceRe by 108.8% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 4,337 shares of the insurance provider’s stock worth $736,000 after buying an additional 2,260 shares during the last quarter. Montag A & Associates Inc. bought a new stake in shares of RenaissanceRe during the 4th quarter worth $2,276,000. New York State Teachers Retirement System lifted its position in shares of RenaissanceRe by 3.7% during the 4th quarter. New York State Teachers Retirement System now owns 44,575 shares of the insurance provider’s stock worth $7,391,000 after buying an additional 1,600 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. lifted its position in shares of RenaissanceRe by 66.9% during the 4th quarter. NN Investment Partners Holdings N.V. now owns 3,930 shares of the insurance provider’s stock worth $652,000 after buying an additional 1,575 shares during the last quarter. Hedge funds and other institutional investors own 93.16% of the company’s stock.
A number of equities analysts have issued reports on RNR shares. TheStreet raised RenaissanceRe from a “c+” rating to a “b-” rating in a report on Wednesday, January 27th. Zacks Investment Research raised RenaissanceRe from a “sell” rating to a “hold” rating and set a $180.00 target price for the company in a report on Wednesday, March 17th. JPMorgan Chase & Co. upped their target price on RenaissanceRe from $160.00 to $162.00 and gave the stock an “underweight” rating in a report on Monday, January 4th. The Goldman Sachs Group raised RenaissanceRe from a “neutral” rating to a “buy” rating and upped their target price for the stock from $194.00 to $199.00 in a report on Friday, January 8th. Finally, Wells Fargo & Company lowered their target price on RenaissanceRe from $229.00 to $220.00 and set an “overweight” rating for the company in a report on Thursday, January 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $185.71.
RenaissanceRe (NYSE:RNR) last released its earnings results on Monday, January 25th. The insurance provider reported ($1.59) EPS for the quarter, topping the consensus estimate of ($2.15) by $0.56. RenaissanceRe had a return on equity of 2.44% and a net margin of 12.46%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $858.74 million. During the same quarter last year, the firm posted $0.77 earnings per share. Equities analysts expect that RenaissanceRe Holdings Ltd. will post 3.58 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Investors of record on Monday, March 15th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, March 12th. This represents a $1.44 annualized dividend and a yield of 0.85%. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.35. RenaissanceRe’s dividend payout ratio (DPR) is currently 15.77%.
RenaissanceRe Holdings Ltd. 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 retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, and other windstorms, as well as claims arising from other natural and man-made catastrophes comprising tsunamis, winter storms, freezes, floods, fires, tornadoes, explosions, and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, and binding facilities and regional U.S.
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