Boston Partners Grows Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Boston Partners increased its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 28.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,013,382 shares of the insurance provider’s stock after purchasing an additional 446,781 shares during the quarter. Boston Partners owned approximately 3.88% of RenaissanceRe worth $500,991,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RNR. Impax Asset Management Group plc boosted its holdings in RenaissanceRe by 10.8% during the fourth quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider’s stock worth $466,969,000 after purchasing an additional 182,530 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC bought a new stake in RenaissanceRe in the third quarter worth about $18,969,000. Northwest & Ethical Investments L.P. bought a new stake in RenaissanceRe in the third quarter worth about $17,086,000. World Investment Advisors LLC bought a new stake in RenaissanceRe in the third quarter worth about $16,176,000. Finally, Raymond James Financial Inc. bought a new stake in RenaissanceRe in the fourth quarter worth about $8,498,000. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total value of $254,160.00. Following the completion of the transaction, the executive vice president now owns 79,392 shares of the company’s stock, valued at $20,178,270.72. The trade was a 1.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on RNR. Jefferies Financial Group reaffirmed a “hold” rating and issued a $282.00 price objective (down previously from $304.00) on shares of RenaissanceRe in a research report on Wednesday, December 18th. Keefe, Bruyette & Woods lowered their price objective on shares of RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 4th. Morgan Stanley lowered their price objective on shares of RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. JPMorgan Chase & Co. boosted their price target on shares of RenaissanceRe from $280.00 to $284.00 and gave the company a “neutral” rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company lowered their price target on shares of RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $279.90.

RenaissanceRe Stock Performance

RenaissanceRe stock opened at $245.35 on Tuesday. The firm’s 50 day simple moving average is $242.13 and its 200 day simple moving average is $257.56. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $12.08 billion, a PE ratio of 7.01, a price-to-earnings-growth ratio of 2.09 and a beta of 0.38. RenaissanceRe Holdings Ltd. has a 1-year low of $208.98 and a 1-year high of $300.00.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 EPS for the quarter, topping analysts’ consensus estimates of $6.94 by $1.12. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. As a group, analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s payout ratio is currently 4.57%.

RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd., together with its subsidiaries, provides reinsurance and insurance products in the United States and internationally. The company operates through Property, and Casualty and Specialty segments. The Property segment writes property catastrophe excess of loss reinsurance and excess of loss reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, binding facilities, and regional U.S.