Y Intercept Hong Kong Ltd Raises Holdings in RenaissanceRe Holdings Ltd. $RNR

Y Intercept Hong Kong Ltd increased its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNRFree Report) by 30.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,284 shares of the insurance provider’s stock after buying an additional 1,925 shares during the period. Y Intercept Hong Kong Ltd’s holdings in RenaissanceRe were worth $2,462,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in RNR. Lightrock Netherlands B.V. raised its position in shares of RenaissanceRe by 4,690.1% during the 4th quarter. Lightrock Netherlands B.V. now owns 1,017,508 shares of the insurance provider’s stock worth $286,083,000 after acquiring an additional 996,266 shares in the last quarter. Orbis Allan Gray Ltd purchased a new position in RenaissanceRe in the fourth quarter valued at approximately $178,519,000. Norges Bank purchased a new position in RenaissanceRe in the fourth quarter valued at approximately $168,582,000. Egerton Capital UK LLP acquired a new stake in RenaissanceRe during the fourth quarter worth approximately $137,944,000. Finally, GQG Partners LLC purchased a new stake in shares of RenaissanceRe during the 4th quarter worth approximately $108,780,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

RenaissanceRe Stock Performance

Shares of RNR stock opened at $324.07 on Wednesday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.22. The stock has a 50 day simple moving average of $300.30 and a 200-day simple moving average of $295.00. The company has a market cap of $13.81 billion, a price-to-earnings ratio of 5.40, a price-to-earnings-growth ratio of 1.22 and a beta of 0.17. RenaissanceRe Holdings Ltd. has a 12-month low of $231.17 and a 12-month high of $329.57.

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

RenaissanceRe Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were 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 was Monday, June 15th. RenaissanceRe’s dividend payout ratio (DPR) is currently 2.73%.

Analysts Set New Price Targets

Several equities analysts have issued reports on RNR shares. Morgan Stanley raised their price objective on RenaissanceRe from $310.00 to $320.00 and gave the stock an “equal weight” rating in a report on Monday. Wall Street Zen lowered RenaissanceRe from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Wells Fargo & Company increased their price objective on RenaissanceRe from $305.00 to $306.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. TD Cowen boosted their target price on RenaissanceRe from $300.00 to $315.00 and gave the company a “hold” rating in a report on Tuesday. Finally, Cantor Fitzgerald raised RenaissanceRe from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $306.00 to $340.00 in a report on Thursday, April 9th. Five analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $326.27.

Check Out Our Latest Analysis on RNR

RenaissanceRe Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for RenaissanceRe (NYSE:RNR)

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