Sei Investments Co. boosted its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR – Free Report) by 11.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 252,435 shares of the insurance provider’s stock after acquiring an additional 25,422 shares during the quarter. Sei Investments Co.’s holdings in RenaissanceRe were worth $75,029,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. boosted 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 worth $55,100,000 after purchasing an additional 112,910 shares during the period. Belpointe Asset Management LLC increased its position in shares of RenaissanceRe by 595.0% during the 4th quarter. Belpointe Asset Management LLC now owns 6,151 shares of the insurance provider’s stock valued at $1,729,000 after purchasing an additional 5,266 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of RenaissanceRe by 68.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 14,171 shares of the insurance provider’s stock valued at $3,855,000 after purchasing an additional 5,782 shares during the last quarter. M&T Bank Corp raised its holdings in RenaissanceRe by 8,296.5% during the 4th quarter. M&T Bank Corp now owns 290,352 shares of the insurance provider’s stock valued at $81,635,000 after buying an additional 286,894 shares during the period. Finally, Horizon Investments LLC raised its holdings in RenaissanceRe by 247,520.0% during the 4th quarter. Horizon Investments LLC now owns 24,762 shares of the insurance provider’s stock valued at $6,962,000 after buying an additional 24,752 shares during the period. 99.97% of the stock is currently owned by hedge funds and other institutional investors.
RenaissanceRe Stock Performance
RNR stock opened at $328.33 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.38 and a debt-to-equity ratio of 0.21. The business’s fifty day simple moving average is $305.10 and its two-hundred day simple moving average is $298.42. RenaissanceRe Holdings Ltd. has a twelve month low of $231.17 and a twelve month high of $329.60. The firm has a market cap of $14.00 billion, a price-to-earnings ratio of 5.63, a PEG ratio of 1.24 and a beta of 0.17.
RenaissanceRe Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Monday, June 15th. RenaissanceRe’s dividend payout ratio is currently 2.81%.
Analyst Ratings Changes
A number of analysts recently issued reports on the company. Cantor Fitzgerald restated an “overweight” rating on shares of RenaissanceRe in a research report on Thursday. Bank of America lifted their price target on shares of RenaissanceRe from $410.00 to $438.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley upped their price target on shares of RenaissanceRe from $310.00 to $320.00 and gave the company an “equal weight” rating in a report on Monday, July 6th. Evercore set a $330.00 price objective on shares of RenaissanceRe in a research report on Thursday. Finally, UBS Group raised their price objective on shares of RenaissanceRe from $326.00 to $342.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Five research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, RenaissanceRe presently has an average rating of “Hold” and an average price target of $335.33.
Read Our Latest Research Report on RenaissanceRe
About RenaissanceRe
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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