Y Intercept Hong Kong Ltd Buys 15,207 Shares of RenaissanceRe Holdings Ltd. $RNR

Y Intercept Hong Kong Ltd lifted its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 812.8% during the third quarter, Holdings Channel reports. The fund owned 17,078 shares of the insurance provider’s stock after buying an additional 15,207 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in RenaissanceRe were worth $4,337,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Hantz Financial Services Inc. raised its holdings in shares of RenaissanceRe by 707.1% during the second quarter. Hantz Financial Services Inc. now owns 113 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 99 shares during the period. IFP Advisors Inc grew its stake in shares of RenaissanceRe by 160.0% in the 2nd quarter. IFP Advisors Inc now owns 117 shares of the insurance provider’s stock valued at $28,000 after buying an additional 72 shares during the period. Financial Consulate Inc. bought a new stake in RenaissanceRe in the 3rd quarter valued at about $29,000. Huntington National Bank increased its position in RenaissanceRe by 80.9% in the 2nd quarter. Huntington National Bank now owns 123 shares of the insurance provider’s stock valued at $30,000 after buying an additional 55 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in RenaissanceRe by 151.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 131 shares of the insurance provider’s stock worth $33,000 after buying an additional 79 shares during the period. 99.97% of the stock is currently owned by institutional investors and hedge funds.

RenaissanceRe Stock Up 0.7%

RNR stock opened at $273.54 on Monday. The stock has a market cap of $12.61 billion, a P/E ratio of 7.60, a P/E/G ratio of 2.86 and a beta of 0.26. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.21. The stock’s fifty day simple moving average is $270.97 and its two-hundred day simple moving average is $255.89. RenaissanceRe Holdings Ltd. has a 1-year low of $219.00 and a 1-year high of $285.26.

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

RenaissanceRe Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were given a $0.40 dividend. 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%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RNR. TD Cowen restated a “hold” rating on shares of RenaissanceRe in a report on Thursday, January 8th. UBS Group boosted their price target on shares of RenaissanceRe from $265.00 to $272.00 and gave the company a “neutral” rating in a research note on Wednesday, October 8th. Mizuho set a $277.00 price objective on shares of RenaissanceRe in a report on Wednesday, January 14th. JPMorgan Chase & Co. lifted their price objective on shares of RenaissanceRe from $303.00 to $329.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. Finally, Barclays boosted their target price on shares of RenaissanceRe from $278.00 to $304.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 8th. 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 MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $298.07.

RenaissanceRe 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.