Lazard Asset Management LLC Raises Stock Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Lazard Asset Management LLC lifted its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNRGet Rating) by 15,314.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,237 shares of the insurance provider’s stock after acquiring an additional 3,216 shares during the quarter. Lazard Asset Management LLC’s holdings in RenaissanceRe were worth $506,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of RNR. Capital World Investors increased its position in RenaissanceRe by 5.4% in the first quarter. Capital World Investors now owns 2,550,441 shares of the insurance provider’s stock worth $404,270,000 after buying an additional 129,891 shares during the last quarter. JPMorgan Chase & Co. increased its position in RenaissanceRe by 25.4% in the first quarter. JPMorgan Chase & Co. now owns 1,030,743 shares of the insurance provider’s stock worth $163,382,000 after buying an additional 208,690 shares during the last quarter. Gladstone Capital Management LLP increased its position in RenaissanceRe by 18.0% in the first quarter. Gladstone Capital Management LLP now owns 991,194 shares of the insurance provider’s stock worth $157,114,000 after buying an additional 151,079 shares during the last quarter. Bank of New York Mellon Corp increased its position in RenaissanceRe by 93.9% in the first quarter. Bank of New York Mellon Corp now owns 923,936 shares of the insurance provider’s stock worth $146,454,000 after buying an additional 447,540 shares during the last quarter. Finally, Polar Capital Holdings Plc increased its position in RenaissanceRe by 6.2% in the first quarter. Polar Capital Holdings Plc now owns 839,281 shares of the insurance provider’s stock worth $133,034,000 after buying an additional 48,928 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on RNR shares. Morgan Stanley decreased their target price on RenaissanceRe from $162.00 to $150.00 and set an “equal weight” rating for the company in a research report on Friday, August 19th. StockNews.com raised RenaissanceRe from a “sell” rating to a “hold” rating in a research report on Friday. Finally, Wells Fargo & Company raised their price target on RenaissanceRe from $171.00 to $184.00 in a report on Thursday, November 3rd. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, RenaissanceRe has an average rating of “Hold” and a consensus price target of $165.33.

RenaissanceRe Price Performance

RenaissanceRe stock opened at $181.79 on Friday. RenaissanceRe Holdings Ltd. has a one year low of $124.18 and a one year high of $187.88. The business has a fifty day moving average price of $151.55 and a 200-day moving average price of $146.46. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $7.94 billion, a P/E ratio of -5.82 and a beta of 0.36.

RenaissanceRe Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date is Wednesday, December 14th. RenaissanceRe’s payout ratio is currently -4.74%.

About RenaissanceRe

(Get Rating)

RenaissanceRe Holdings Ltd. provides reinsurance and insurance products in the United States and internationally. The company operates through Property, and Casualty and Specialty segments. The Property segment writes property catastrophe excess of loss reinsurance and excess of loss retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, binding facilities, and regional U.S.

See Also

Want to see what other hedge funds are holding RNR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RenaissanceRe Holdings Ltd. (NYSE:RNRGet Rating).

Institutional Ownership by Quarter for RenaissanceRe (NYSE:RNR)

Receive News & Ratings for RenaissanceRe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RenaissanceRe and related companies with MarketBeat.com's FREE daily email newsletter.