RenaissanceRe Holdings Ltd. $RNR Stock Holdings Increased by Engineers Gate Manager LP

Engineers Gate Manager LP increased its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 1,681.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,873 shares of the insurance provider’s stock after purchasing an additional 66,894 shares during the quarter. Engineers Gate Manager LP’s holdings in RenaissanceRe were worth $19,927,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kingdom Financial Group LLC. bought a new stake in shares of RenaissanceRe in the 4th quarter worth approximately $36,000. Quarry LP raised its holdings in shares of RenaissanceRe by 65.0% in the 3rd quarter. Quarry LP now owns 132 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 52 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of RenaissanceRe by 235.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 94 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in shares of RenaissanceRe by 33.6% in the 4th quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 37 shares in the last quarter. Finally, Clearstead Advisors LLC raised its holdings in shares of RenaissanceRe by 134.7% in the 4th quarter. Clearstead Advisors LLC now owns 176 shares of the insurance provider’s stock worth $49,000 after purchasing an additional 101 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on RNR. TD Cowen lifted their target price on shares of RenaissanceRe from $280.00 to $290.00 and gave the stock a “hold” rating in a research report on Thursday, February 26th. UBS Group lifted their target price on shares of RenaissanceRe from $319.00 to $326.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Mizuho set a $325.00 target price on shares of RenaissanceRe in a research report on Monday, May 4th. Wall Street Zen downgraded shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Keefe, Bruyette & Woods lifted their target price 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. Five equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, RenaissanceRe presently has a consensus rating of “Hold” and an average target price of $323.64.

RenaissanceRe Stock Performance

RenaissanceRe stock opened at $302.31 on Thursday. The firm’s 50 day simple moving average is $298.98 and its 200-day simple moving average is $290.38. The company has a market cap of $12.89 billion, a P/E ratio of 5.04, a price-to-earnings-growth ratio of 1.13 and a beta of 0.18. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.37. RenaissanceRe Holdings Ltd. has a fifty-two week low of $231.17 and a fifty-two week high of $318.20.

RenaissanceRe (NYSE:RNR) last released its earnings results on Tuesday, March 31st. The insurance provider reported $13.75 earnings per share for the quarter. The business 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, equities research analysts predict that RenaissanceRe Holdings Ltd. will post 40.05 EPS for the current year.

RenaissanceRe Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.64 dividend on an annualized basis and a yield of 0.5%. RenaissanceRe’s 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.