DekaBank Deutsche Girozentrale Boosts Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

DekaBank Deutsche Girozentrale lifted its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 67.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,696 shares of the insurance provider’s stock after buying an additional 1,490 shares during the period. DekaBank Deutsche Girozentrale’s holdings in RenaissanceRe were worth $515,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Magnus Financial Group LLC acquired a new stake in shares of RenaissanceRe in the 4th quarter worth about $228,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of RenaissanceRe by 14.0% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 10,142 shares of the insurance provider’s stock valued at $1,356,000 after buying an additional 1,247 shares in the last quarter. Dalton Greiner Hartman Maher & Co. purchased a new stake in shares of RenaissanceRe during the 1st quarter valued at $12,828,000. Advisor Group Inc. raised its position in shares of RenaissanceRe by 23.2% during the 4th quarter. Advisor Group Inc. now owns 1,574 shares of the insurance provider’s stock valued at $211,000 after buying an additional 296 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of RenaissanceRe by 23.2% during the 1st quarter. Victory Capital Management Inc. now owns 885,230 shares of the insurance provider’s stock valued at $127,031,000 after buying an additional 166,575 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors.

RNR opened at $176.44 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.49 and a quick ratio of 1.49. RenaissanceRe Holdings Ltd. has a twelve month low of $117.35 and a twelve month high of $179.91. The company has a market cap of $7.79 billion, a PE ratio of 19.24, a P/E/G ratio of 1.48 and a beta of 0.35.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings data on Tuesday, May 7th. The insurance provider reported $3.60 earnings per share for the quarter, beating the consensus estimate of $3.20 by $0.40. RenaissanceRe had a net margin of 18.18% and a return on equity of 9.25%. The firm had revenue of $929.00 million during the quarter, compared to analysts’ expectations of $738.70 million. During the same period in the previous year, the company earned $1.42 earnings per share. The firm’s quarterly revenue was up 40.1% on a year-over-year basis. As a group, research analysts predict that RenaissanceRe Holdings Ltd. will post 12.51 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.34 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.36 annualized dividend and a dividend yield of 0.77%. RenaissanceRe’s payout ratio is 14.83%.

In other news, SVP Ian D. Branagan sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $153.00, for a total transaction of $306,000.00. Following the completion of the transaction, the senior vice president now directly owns 52,617 shares of the company’s stock, valued at $8,050,401. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Ross Curtis sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $156.00, for a total transaction of $1,170,000.00. The disclosure for this sale can be found here. Insiders have sold 36,000 shares of company stock valued at $5,922,600 over the last three months. 1.60% of the stock is owned by corporate insiders.

RNR has been the topic of a number of analyst reports. Barclays lifted their target price on shares of RenaissanceRe from $125.00 to $130.00 and gave the stock an “underweight” rating in a research report on Monday, April 1st. UBS Group lifted their target price on shares of RenaissanceRe from $144.00 to $153.00 and gave the company a “neutral” rating in a research note on Tuesday, April 9th. Deutsche Bank boosted their price objective on shares of RenaissanceRe from $167.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. ValuEngine raised shares of RenaissanceRe from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Finally, Zacks Investment Research raised shares of RenaissanceRe from a “hold” rating to a “buy” rating and set a $160.00 target price for the company in a report on Monday, April 1st. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $149.09.

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RenaissanceRe Profile

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 earthquakes, hurricanes, 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, and binding facilities and regional U.S.

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Institutional Ownership by Quarter for RenaissanceRe (NYSE:RNR)

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