RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Acquired by Boston Partners

Key Points

• Boston Partners has increased its stake in RenaissanceRe Holdings Ltd. by 4.6%, acquiring an additional 92,825 shares, bringing their total ownership to approximately $505.5 million.
• RenaissanceRe recently reported earnings per share (EPS) of $12.29 for the last quarter, exceeding estimates, although revenue for the quarter was down by 2.4% year-over-year.
• The company announced a $0.40 quarterly dividend, which will be paid to shareholders on September 30, reflecting an annualized yield of 0.7% and a low payout ratio of 4.09%.

Boston Partners raised its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 4.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,106,207 shares of the insurance provider's stock after purchasing an additional 92,825 shares during the period. Boston Partners owned 4.33% of RenaissanceRe worth $505,509,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tsfg LLC bought a new stake in shares of RenaissanceRe in the 1st quarter worth about $40,000. LRI Investments LLC increased its position in shares of RenaissanceRe by 116.5% in the 1st quarter. LRI Investments LLC now owns 262 shares of the insurance provider's stock worth $63,000 after purchasing an additional 141 shares during the last quarter. UMB Bank n.a. increased its position in shares of RenaissanceRe by 165.1% in the 1st quarter. UMB Bank n.a. now owns 464 shares of the insurance provider's stock worth $111,000 after purchasing an additional 289 shares during the last quarter. State of Wyoming bought a new stake in shares of RenaissanceRe in the 4th quarter worth about $175,000. Finally, Rossby Financial LCC bought a new stake in shares of RenaissanceRe in the 1st quarter worth about $187,000. Institutional investors own 99.97% of the company's stock.

RenaissanceRe Stock Performance

NYSE RNR traded down $1.66 on Thursday, hitting $242.41. The stock had a trading volume of 244,595 shares, compared to its average volume of 476,974. RenaissanceRe Holdings Ltd. has a one year low of $219.00 and a one year high of $300.00. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.23. The stock has a market cap of $11.41 billion, a price-to-earnings ratio of 6.19, a P/E/G ratio of 2.45 and a beta of 0.29. The company's 50-day moving average is $241.50 and its two-hundred day moving average is $240.21.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The insurance provider reported $12.29 EPS for the quarter, topping the consensus estimate of $10.28 by $2.01. RenaissanceRe had a net margin of 15.44% and a return on equity of 15.00%. The firm had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.96 billion. During the same quarter in the prior year, the firm earned $12.41 EPS. RenaissanceRe's quarterly revenue was down 2.4% on a year-over-year basis. On average, analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a $0.40 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.60 annualized dividend and a dividend yield of 0.7%. RenaissanceRe's dividend payout ratio (DPR) is 4.09%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company reissued an "equal weight" rating and issued a $269.00 target price (up previously from $267.00) on shares of RenaissanceRe in a research report on Thursday, July 10th. Morgan Stanley lowered their price objective on shares of RenaissanceRe from $285.00 to $280.00 and set an "overweight" rating for the company in a research report on Monday, July 14th. Cantor Fitzgerald raised shares of RenaissanceRe to a "hold" rating in a research report on Wednesday. JMP Securities reaffirmed a "market perform" rating on shares of RenaissanceRe in a research report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of RenaissanceRe from $268.00 to $269.00 and gave the company a "market perform" rating in a research report on Monday, July 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, RenaissanceRe has an average rating of "Hold" and a consensus target price of $282.09.

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.