RenaissanceRe Holdings Ltd. $RNR Shares Purchased by Engineers Gate Manager LP

Engineers Gate Manager LP raised its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 1,681.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 70,873 shares of the insurance provider’s stock after purchasing an additional 66,894 shares during the period. Engineers Gate Manager LP owned 0.16% of RenaissanceRe worth $19,927,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bridgeway Capital Management LLC boosted its stake in RenaissanceRe by 45.3% during the 4th quarter. Bridgeway Capital Management LLC now owns 8,750 shares of the insurance provider’s stock valued at $2,460,000 after purchasing an additional 2,730 shares during the period. Freestone Grove Partners LP acquired a new position in RenaissanceRe during the 4th quarter valued at about $13,282,000. AQR Capital Management LLC boosted its stake in RenaissanceRe by 36.5% during the 4th quarter. AQR Capital Management LLC now owns 541,923 shares of the insurance provider’s stock valued at $152,367,000 after purchasing an additional 144,896 shares during the period. Cetera Investment Advisers boosted its stake in RenaissanceRe by 15.0% during the 4th quarter. Cetera Investment Advisers now owns 9,547 shares of the insurance provider’s stock valued at $2,684,000 after purchasing an additional 1,246 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in RenaissanceRe by 24.8% during the 4th quarter. Lazard Asset Management LLC now owns 94,229 shares of the insurance provider’s stock valued at $26,493,000 after purchasing an additional 18,745 shares during the period. 99.97% of the stock is owned by institutional investors and hedge funds.

RenaissanceRe Stock Up 0.6%

RNR stock opened at $302.31 on Thursday. RenaissanceRe Holdings Ltd. has a 52 week low of $231.17 and a 52 week high of $318.20. The company has a market capitalization of $12.89 billion, a price-to-earnings ratio of 5.04, a price-to-earnings-growth ratio of 1.13 and a beta of 0.18. The firm’s 50-day moving average is $298.98 and its two-hundred day moving average is $290.38. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.22.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $13.75 EPS for the quarter. RenaissanceRe had a net margin of 24.25% and a return on equity of 24.01%. The company had revenue of $2.19 billion for the quarter. On average, analysts forecast that RenaissanceRe Holdings Ltd. will post 40.05 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Monday, June 15th. RenaissanceRe’s payout ratio is presently 2.73%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods boosted their target price on shares of RenaissanceRe from $323.00 to $327.00 and gave the company a “market perform” rating in a research note on Tuesday, April 7th. TD Cowen boosted their target price on shares of RenaissanceRe from $280.00 to $290.00 and gave the company a “hold” rating in a research note on Thursday, February 26th. Evercore set a $309.00 target price on shares of RenaissanceRe in a research note on Thursday, April 9th. Bank of America dropped their price target on shares of RenaissanceRe to $426.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Finally, Barclays dropped their price target on shares of RenaissanceRe from $341.00 to $328.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 29th. Five research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $323.64.

RenaissanceRe 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.