Goldman Sachs Group Inc. Boosts Holdings in RenaissanceRe Holdings Ltd. $RNR

Goldman Sachs Group Inc. grew its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 80.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 324,650 shares of the insurance provider’s stock after acquiring an additional 144,743 shares during the quarter. Goldman Sachs Group Inc. owned 0.70% of RenaissanceRe worth $91,279,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Capital World Investors raised its stake in shares of RenaissanceRe by 0.3% during the third quarter. Capital World Investors now owns 2,649,518 shares of the insurance provider’s stock worth $672,792,000 after acquiring an additional 7,839 shares in the last quarter. Lightrock Netherlands B.V. boosted its stake in shares of RenaissanceRe by 4,690.1% during the fourth quarter. Lightrock Netherlands B.V. now owns 1,017,508 shares of the insurance provider’s stock valued at $286,083,000 after purchasing an additional 996,266 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of RenaissanceRe by 4.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,001,410 shares of the insurance provider’s stock valued at $254,273,000 after purchasing an additional 45,936 shares during the period. Bank of America Corp DE boosted its stake in shares of RenaissanceRe by 17.6% during the second quarter. Bank of America Corp DE now owns 803,547 shares of the insurance provider’s stock valued at $195,182,000 after purchasing an additional 120,063 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of RenaissanceRe by 6.2% during the third quarter. Invesco Ltd. now owns 618,974 shares of the insurance provider’s stock valued at $157,176,000 after purchasing an additional 36,254 shares during the period. 99.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RNR. Wells Fargo & Company increased their price objective on RenaissanceRe from $305.00 to $306.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. Morgan Stanley lowered RenaissanceRe from an “overweight” rating to an “equal weight” rating and set a $310.00 price objective for the company. in a research note on Thursday, February 26th. Mizuho set a $325.00 price objective on RenaissanceRe in a research note on Monday, May 4th. UBS Group boosted their target price on RenaissanceRe from $319.00 to $326.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Finally, Barclays reduced their target price on RenaissanceRe from $341.00 to $328.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 29th. Four investment analysts have rated the stock with a Buy rating, twelve have given 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 $322.93.

RenaissanceRe Price Performance

RNR opened at $283.56 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.37 and a current ratio of 1.37. RenaissanceRe Holdings Ltd. has a 52-week low of $231.17 and a 52-week high of $318.20. The stock has a market capitalization of $12.09 billion, a PE ratio of 4.73, a price-to-earnings-growth ratio of 0.78 and a beta of 0.18. The stock’s 50 day moving average price is $298.86 and its 200-day moving average price is $288.70.

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

RenaissanceRe Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid 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 presently 2.73%.

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.