Intech Investment Management LLC Purchases 2,801 Shares of RenaissanceRe Holdings Ltd. $RNR

Intech Investment Management LLC grew its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 310.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,703 shares of the insurance provider’s stock after purchasing an additional 2,801 shares during the quarter. Intech Investment Management LLC’s holdings in RenaissanceRe were worth $1,041,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of RNR. Lightrock Netherlands B.V. grew its position in shares of RenaissanceRe by 4,690.1% during the 4th quarter. Lightrock Netherlands B.V. now owns 1,017,508 shares of the insurance provider’s stock worth $286,083,000 after buying an additional 996,266 shares during the period. M&T Bank Corp grew its position in shares of RenaissanceRe by 8,296.5% during the 4th quarter. M&T Bank Corp now owns 290,352 shares of the insurance provider’s stock worth $81,635,000 after buying an additional 286,894 shares during the period. AQR Capital Management LLC grew its position in shares of RenaissanceRe by 154.5% during the 3rd quarter. AQR Capital Management LLC now owns 397,027 shares of the insurance provider’s stock worth $99,769,000 after buying an additional 241,001 shares during the period. Millennium Management LLC grew its position in shares of RenaissanceRe by 347.6% during the 3rd quarter. Millennium Management LLC now owns 236,919 shares of the insurance provider’s stock worth $60,161,000 after buying an additional 183,988 shares during the period. Finally, Two Sigma Investments LP grew its position in shares of RenaissanceRe by 330.0% during the 3rd quarter. Two Sigma Investments LP now owns 174,368 shares of the insurance provider’s stock worth $44,277,000 after buying an additional 133,820 shares during the period. Institutional investors and hedge funds own 99.97% of the company’s stock.

RenaissanceRe Price Performance

RNR opened at $288.94 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market capitalization of $12.32 billion, a price-to-earnings ratio of 4.82, a P/E/G ratio of 0.79 and a beta of 0.18. The firm’s fifty day moving average price is $299.29 and its two-hundred day moving average price is $288.25. RenaissanceRe Holdings Ltd. has a 1 year low of $231.17 and a 1 year high of $318.20.

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

RenaissanceRe Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have recently commented on RNR. Barclays reduced their price objective on shares of RenaissanceRe from $341.00 to $328.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 29th. Evercore set a $309.00 price objective on shares of RenaissanceRe in a research report on Thursday, April 9th. Wall Street Zen downgraded shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Mizuho set a $325.00 price objective on shares of RenaissanceRe in a research report on Monday, May 4th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of RenaissanceRe from $323.00 to $327.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 7th. Four investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $322.93.

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.