Lecap Asset Management Ltd. Purchases 4,298 Shares of RenaissanceRe Holdings Ltd. $RNR

Lecap Asset Management Ltd. lifted its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 512.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,136 shares of the insurance provider’s stock after acquiring an additional 4,298 shares during the quarter. Lecap Asset Management Ltd.’s holdings in RenaissanceRe were worth $1,304,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Impax Asset Management Group plc boosted its stake in shares of RenaissanceRe by 11.2% in the 2nd quarter. Impax Asset Management Group plc now owns 1,220,038 shares of the insurance provider’s stock worth $295,494,000 after buying an additional 122,732 shares during the last quarter. Bank of America Corp DE increased its stake in RenaissanceRe by 17.6% in the 2nd quarter. Bank of America Corp DE now owns 803,547 shares of the insurance provider’s stock worth $195,182,000 after buying an additional 120,063 shares in the last quarter. Norges Bank bought a new stake in RenaissanceRe during the second quarter valued at about $139,543,000. Charles Schwab Investment Management Inc. grew its stake in shares of RenaissanceRe by 0.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 334,326 shares of the insurance provider’s stock worth $81,208,000 after buying an additional 3,070 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of RenaissanceRe by 152.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 239,330 shares of the insurance provider’s stock worth $58,136,000 after buying an additional 144,547 shares in the last quarter. Institutional investors own 99.97% of the company’s stock.

RenaissanceRe Trading Up 0.6%

RNR opened at $273.70 on Thursday. The firm has a market cap of $12.62 billion, a price-to-earnings ratio of 7.60, a PEG ratio of 6.47 and a beta of 0.26. The stock has a fifty day moving average price of $268.67 and a 200-day moving average price of $253.13. RenaissanceRe Holdings Ltd. has a 12 month low of $219.00 and a 12 month high of $285.26. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.21.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data on Tuesday, October 28th. The insurance provider reported $15.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.49 by $6.13. The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $1.97 billion. RenaissanceRe had a net margin of 14.23% and a return on equity of 16.83%. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.23 EPS. As a group, equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were paid a dividend of $0.40 per share. The ex-dividend date was Monday, December 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.6%. RenaissanceRe’s payout ratio is presently 4.45%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RNR shares. Barclays set a $278.00 price target on shares of RenaissanceRe in a report on Wednesday, October 8th. UBS Group upped their price objective on RenaissanceRe from $265.00 to $272.00 and gave the company a “neutral” rating in a research report on Wednesday, October 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of RenaissanceRe in a research note on Monday, December 29th. Evercore ISI boosted their target price on RenaissanceRe from $250.00 to $283.00 and gave the company an “in-line” rating in a research report on Wednesday. Finally, Morgan Stanley reissued an “overweight” rating and issued a $300.00 price objective on shares of RenaissanceRe in a research note on Tuesday, December 16th. Five equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $294.93.

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.