Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR – Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 12,882 shares of the insurance provider’s stock, valued at approximately $3,622,000.
Other large investors also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd increased its holdings in shares of RenaissanceRe by 812.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 17,078 shares of the insurance provider’s stock valued at $4,337,000 after purchasing an additional 15,207 shares during the period. Diamond Hill Capital Management Inc. increased its holdings in shares of RenaissanceRe by 16.0% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 119,240 shares of the insurance provider’s stock valued at $30,279,000 after purchasing an additional 16,448 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of RenaissanceRe by 4.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,001,410 shares of the insurance provider’s stock valued at $254,273,000 after purchasing an additional 45,936 shares during the period. New Age Alpha Advisors LLC increased its holdings in shares of RenaissanceRe by 97.2% in the 3rd quarter. New Age Alpha Advisors LLC now owns 20,800 shares of the insurance provider’s stock valued at $5,165,000 after purchasing an additional 10,250 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of RenaissanceRe by 135.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 195,975 shares of the insurance provider’s stock valued at $55,100,000 after purchasing an additional 112,910 shares during the period. Institutional investors and hedge funds own 99.97% of the company’s stock.
RenaissanceRe Trading Up 0.5%
Shares of NYSE RNR opened at $303.41 on Thursday. The stock has a market cap of $12.93 billion, a price-to-earnings ratio of 5.06, a PEG ratio of 0.81 and a beta of 0.22. The business has a 50 day simple moving average of $300.82 and a 200 day simple moving average of $286.48. RenaissanceRe Holdings Ltd. has a 52 week low of $231.17 and a 52 week high of $318.20. 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 Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.64 dividend on an annualized basis and a yield of 0.5%. RenaissanceRe’s dividend payout ratio is presently 2.73%.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on RNR. Evercore set a $309.00 target price on RenaissanceRe in a report on Thursday, April 9th. Wells Fargo & Company upped their target price on RenaissanceRe from $305.00 to $306.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Cantor Fitzgerald upgraded RenaissanceRe from a “neutral” rating to an “overweight” rating and upped their target price for the company from $306.00 to $340.00 in a report on Thursday, April 9th. UBS Group boosted their price target on RenaissanceRe from $319.00 to $326.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Finally, Wall Street Zen cut RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Four analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $322.93.
View Our Latest Analysis on RNR
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.
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