Royal London Asset Management Ltd. Raises Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Royal London Asset Management Ltd. boosted its stake in RenaissanceRe Holdings Ltd. (NYSE:RNRFree Report) by 38.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,811 shares of the insurance provider’s stock after buying an additional 6,874 shares during the quarter. Royal London Asset Management Ltd.’s holdings in RenaissanceRe were worth $4,863,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC acquired a new stake in shares of RenaissanceRe during the fourth quarter valued at $37,000. Bruce G. Allen Investments LLC acquired a new stake in shares of RenaissanceRe during the 4th quarter worth about $38,000. Daiwa Securities Group Inc. acquired a new stake in shares of RenaissanceRe during the 4th quarter worth about $39,000. VisionPoint Advisory Group LLC purchased a new stake in shares of RenaissanceRe during the third quarter worth about $57,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new position in shares of RenaissanceRe in the fourth quarter valued at approximately $60,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

Wall Street Analyst Weigh In

RNR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on RenaissanceRe from $237.00 to $245.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Evercore ISI increased their target price on RenaissanceRe from $216.00 to $218.00 and gave the stock an “underperform” rating in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, RenaissanceRe currently has an average rating of “Hold” and a consensus price target of $249.00.

Read Our Latest Stock Report on RenaissanceRe

RenaissanceRe Trading Up 0.7 %

RNR opened at $227.94 on Friday. RenaissanceRe Holdings Ltd. has a 12-month low of $174.22 and a 12-month high of $239.42. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a market capitalization of $12.05 billion, a PE ratio of 5.04, a P/E/G ratio of 1.51 and a beta of 0.38. The firm’s fifty day moving average price is $224.02 and its 200 day moving average price is $218.85.

RenaissanceRe (NYSE:RNRGet Free Report) last issued its earnings results on Tuesday, April 30th. The insurance provider reported $12.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.86 by $2.32. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.05 billion. RenaissanceRe had a net margin of 24.79% and a return on equity of 27.09%. The company’s revenue for the quarter was up 41.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $8.16 EPS. As a group, research analysts expect that RenaissanceRe Holdings Ltd. will post 37.26 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.68%. RenaissanceRe’s dividend payout ratio (DPR) is 3.45%.

RenaissanceRe Profile

(Free Report)

RenaissanceRe Holdings Ltd., together with its subsidiaries, 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 reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as 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.

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Institutional Ownership by Quarter for RenaissanceRe (NYSE:RNR)

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