RenaissanceRe Holdings Ltd. $RNR Shares Acquired by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lifted its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 815.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,065 shares of the insurance provider’s stock after buying an additional 73,991 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in RenaissanceRe were worth $21,093,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Exchange Traded Concepts LLC lifted its position in RenaissanceRe by 1.2% in the third quarter. Exchange Traded Concepts LLC now owns 3,355 shares of the insurance provider’s stock valued at $852,000 after acquiring an additional 40 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of RenaissanceRe by 10.5% in the 1st quarter. Advisors Asset Management Inc. now owns 441 shares of the insurance provider’s stock valued at $106,000 after purchasing an additional 42 shares during the last quarter. Benedict Financial Advisors Inc. boosted its position in shares of RenaissanceRe by 0.3% in the 2nd quarter. Benedict Financial Advisors Inc. now owns 12,577 shares of the insurance provider’s stock valued at $3,055,000 after purchasing an additional 42 shares during the period. Miracle Mile Advisors LLC grew its stake in RenaissanceRe by 3.8% during the 3rd quarter. Miracle Mile Advisors LLC now owns 1,257 shares of the insurance provider’s stock worth $319,000 after buying an additional 46 shares during the last quarter. Finally, Rossby Financial LCC increased its position in RenaissanceRe by 6.2% during the second quarter. Rossby Financial LCC now owns 845 shares of the insurance provider’s stock worth $205,000 after buying an additional 49 shares during the period. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company increased their price objective on RenaissanceRe from $278.00 to $285.00 and gave the company an “equal weight” rating in a report on Thursday, October 30th. Zacks Research cut shares of RenaissanceRe from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Barclays lifted their price objective on shares of RenaissanceRe from $278.00 to $304.00 and gave the company an “equal weight” rating in a research note on Thursday. Cowen reaffirmed a “hold” rating on shares of RenaissanceRe in a report on Thursday. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of RenaissanceRe in a report on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, RenaissanceRe has a consensus rating of “Hold” and a consensus target price of $295.67.

RenaissanceRe Stock Up 2.0%

RNR stock opened at $279.64 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.21. The company’s 50-day moving average price is $269.17 and its 200 day moving average price is $253.32. RenaissanceRe Holdings Ltd. has a 52 week low of $219.00 and a 52 week high of $285.26. The company has a market cap of $12.89 billion, a P/E ratio of 7.77, a P/E/G ratio of 6.52 and a beta of 0.26.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Tuesday, October 28th. The insurance provider reported $15.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.49 by $6.13. The company had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $1.97 billion. RenaissanceRe had a net margin of 14.23% and a return on equity of 16.83%. The firm’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period last year, the company posted $10.23 earnings per share. On average, research analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.60 annualized dividend and a yield of 0.6%. RenaissanceRe’s payout ratio is currently 4.45%.

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.