ING Groep NV Buys Shares of 8,800 RenaissanceRe Holdings Ltd. $RNR

ING Groep NV bought a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 8,800 shares of the insurance provider’s stock, valued at approximately $2,474,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RNR. Quarry LP grew its stake in RenaissanceRe by 65.0% in the 3rd quarter. Quarry LP now owns 132 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 52 shares during the period. CIBC Private Wealth Group LLC grew its stake in RenaissanceRe by 235.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 94 shares during the period. Kingdom Financial Group LLC. purchased a new stake in RenaissanceRe in the 4th quarter worth approximately $36,000. SBI Securities Co. Ltd. grew its stake in RenaissanceRe by 33.6% in the 4th quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock worth $41,000 after acquiring an additional 37 shares during the period. Finally, Clearstead Advisors LLC grew its stake in RenaissanceRe by 134.7% in the 4th quarter. Clearstead Advisors LLC now owns 176 shares of the insurance provider’s stock worth $49,000 after acquiring an additional 101 shares during the period. 99.97% of the stock is owned by hedge funds and other institutional investors.

RenaissanceRe Stock Up 0.5%

Shares of NYSE RNR opened at $283.56 on Wednesday. RenaissanceRe Holdings Ltd. has a 52-week low of $231.17 and a 52-week high of $318.20. The firm has a fifty day moving average of $298.86 and a 200-day moving average of $288.70. The stock has a market capitalization of $12.09 billion, a PE ratio of 4.73, a P/E/G ratio of 0.78 and a beta of 0.18. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.22.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Tuesday, March 31st. The insurance provider reported $13.75 earnings per share (EPS) for the quarter. RenaissanceRe had a net margin of 24.25% and a return on equity of 24.01%. The company had revenue of $2.19 billion during the quarter. On average, analysts anticipate that RenaissanceRe Holdings Ltd. will post 40.02 EPS for the current year.

RenaissanceRe Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.64 annualized dividend and a dividend yield of 0.6%. RenaissanceRe’s payout ratio is currently 2.73%.

Wall Street Analyst Weigh In

RNR has been the subject of several recent analyst reports. TD Cowen lifted their target price on shares of RenaissanceRe from $280.00 to $290.00 and gave the stock a “hold” rating in a research note on Thursday, February 26th. Keefe, Bruyette & Woods lifted their target price on shares of RenaissanceRe from $323.00 to $327.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 7th. UBS Group lifted their target price on shares of RenaissanceRe from $319.00 to $326.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Evercore set a $309.00 target price on shares of RenaissanceRe in a research note on Thursday, April 9th. Finally, Morgan Stanley cut shares of RenaissanceRe from an “overweight” rating to an “equal weight” rating and set a $310.00 target price for the company. in a research note on Thursday, February 26th. Four equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $322.93.

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.