Intech Investment Management LLC Has $1.04 Million Position in RenaissanceRe Holdings Ltd. $RNR

Intech Investment Management LLC grew its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 310.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,703 shares of the insurance provider’s stock after purchasing an additional 2,801 shares during the period. Intech Investment Management LLC’s holdings in RenaissanceRe were worth $1,041,000 as of its most recent filing with the Securities and Exchange Commission.

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

RenaissanceRe Stock Up 4.0%

RenaissanceRe stock opened at $288.94 on Friday. 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 firm has a 50 day moving average price of $299.29 and a two-hundred day moving average price of $288.25. The firm has a market cap of $12.32 billion, a price-to-earnings ratio of 4.82, a PEG ratio of 0.79 and a beta of 0.18.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $13.75 earnings per share (EPS) for the quarter. RenaissanceRe had a net margin of 24.25% and a return on equity of 24.01%. The firm had revenue of $2.19 billion during the quarter. Equities 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. Shareholders of record on Monday, June 15th will be issued a dividend of $0.41 per share. The ex-dividend date is Monday, June 15th. This represents a $1.64 annualized dividend and a yield of 0.6%. RenaissanceRe’s dividend payout ratio (DPR) is presently 2.73%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RNR. Cantor Fitzgerald upgraded shares of RenaissanceRe from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $306.00 to $340.00 in a research report on Thursday, April 9th. Evercore set a $309.00 target price on shares of RenaissanceRe in a research report on Thursday, April 9th. 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. Bank of America cut their target price on shares of RenaissanceRe to $426.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Finally, 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. Four equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $322.93.

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.