Egerton Capital UK LLP Takes Position in RenaissanceRe Holdings Ltd. $RNR

Egerton Capital UK LLP purchased a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 490,626 shares of the insurance provider’s stock, valued at approximately $137,944,000. RenaissanceRe comprises approximately 1.5% of Egerton Capital UK LLP’s portfolio, making the stock its 20th largest holding.

A number of other large investors have also recently bought and sold shares of the business. ING Groep NV bought a new stake in RenaissanceRe in the fourth quarter worth $2,474,000. Los Angeles Capital Management LLC boosted its holdings in RenaissanceRe by 25.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 93,830 shares of the insurance provider’s stock worth $26,381,000 after purchasing an additional 18,977 shares in the last quarter. Vestcor Inc boosted its holdings in RenaissanceRe by 46.6% in the fourth quarter. Vestcor Inc now owns 5,118 shares of the insurance provider’s stock worth $1,439,000 after purchasing an additional 1,626 shares in the last quarter. Lifestyle Asset Management Inc. boosted its holdings in RenaissanceRe by 12.9% in the fourth quarter. Lifestyle Asset Management Inc. now owns 6,670 shares of the insurance provider’s stock worth $1,875,000 after purchasing an additional 763 shares in the last quarter. Finally, Vise Technologies Inc. boosted its holdings in RenaissanceRe by 72.2% in the fourth quarter. Vise Technologies Inc. now owns 3,279 shares of the insurance provider’s stock worth $922,000 after purchasing an additional 1,375 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors.

RenaissanceRe Stock Up 0.2%

NYSE RNR opened at $288.94 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a 50-day simple moving average of $299.29 and a 200 day simple moving average of $288.43. RenaissanceRe Holdings Ltd. has a twelve month low of $231.17 and a twelve month high of $318.20. The stock has a market cap of $12.32 billion, a PE ratio of 4.82, a PEG ratio of 0.79 and a beta of 0.19.

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

RenaissanceRe Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RNR. Citigroup upped their price objective on shares of RenaissanceRe from $333.00 to $335.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Weiss Ratings upgraded shares of RenaissanceRe from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, May 26th. Evercore set a $309.00 price objective on shares of RenaissanceRe in a report on Thursday, April 9th. Morgan Stanley cut shares of RenaissanceRe from an “overweight” rating to an “equal weight” rating and set a $310.00 price objective for the company. in a report on Thursday, February 26th. Finally, Wall Street Zen cut shares of RenaissanceRe from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Four analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price 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.