Lightrock Netherlands B.V. Acquires 160,915 Shares of RenaissanceRe Holdings Ltd. $RNR

Key Points

• Lightrock Netherlands B.V. increased its stake in RenaissanceRe by 15.8% in the first quarter, adding 160,915 shares and bringing its total holdings to 1,178,423 shares worth about $350.3 million. RenaissanceRe is now Lightrock’s largest holding, representing roughly 35.4% of its portfolio.
• Several analysts recently updated their views on RNR, with price targets mostly raised, though the overall consensus remains Hold. Citi was the notable exception, upgrading the stock to Buy from Neutral.
• RenaissanceRe shares were trading at $314.74 and the company reported strong quarterly results, including $13.75 EPS and $2.19 billion in revenue. The stock also pays a quarterly dividend of $0.41, equal to a 0.5% annualized yield.

Lightrock Netherlands B.V. grew its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 15.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,178,423 shares of the insurance provider's stock after purchasing an additional 160,915 shares during the quarter. RenaissanceRe makes up approximately 35.4% of Lightrock Netherlands B.V.'s holdings, making the stock its biggest holding. Lightrock Netherlands B.V. owned about 2.76% of RenaissanceRe worth $350,263,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. boosted its position 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 last quarter. Belpointe Asset Management LLC lifted its stake in RenaissanceRe by 595.0% in the fourth quarter. Belpointe Asset Management LLC now owns 6,151 shares of the insurance provider's stock valued at $1,729,000 after buying an additional 5,266 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in RenaissanceRe by 68.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,171 shares of the insurance provider's stock valued at $3,855,000 after buying an additional 5,782 shares during the period. M&T Bank Corp boosted its holdings in RenaissanceRe by 8,296.5% during the fourth quarter. M&T Bank Corp now owns 290,352 shares of the insurance provider's stock worth $81,635,000 after buying an additional 286,894 shares during the last quarter. Finally, Horizon Investments LLC boosted its holdings in RenaissanceRe by 247,520.0% during the fourth quarter. Horizon Investments LLC now owns 24,762 shares of the insurance provider's stock worth $6,962,000 after buying an additional 24,752 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on RNR shares. UBS Group increased their price target on shares of RenaissanceRe from $326.00 to $342.00 and gave the company a "neutral" rating in a research report on Wednesday, July 8th. Wells Fargo & Company boosted their price objective on shares of RenaissanceRe from $306.00 to $329.00 and gave the company an "equal weight" rating in a report on Thursday, July 9th. Mizuho upped their target price on shares of RenaissanceRe from $325.00 to $329.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. Wolfe Research set a $315.00 target price on shares of RenaissanceRe in a report on Tuesday, July 7th. Finally, Citigroup raised shares of RenaissanceRe from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $335.00 to $345.00 in a research report on Wednesday, June 10th. Five research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, RenaissanceRe currently has a consensus rating of "Hold" and a consensus price target of $331.80.

RenaissanceRe Stock Performance

Shares of RNR stock opened at $314.74 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.37 and a current ratio of 1.37. The company has a market capitalization of $13.42 billion, a P/E ratio of 5.25, a price-to-earnings-growth ratio of 1.14 and a beta of 0.17. The company's 50 day moving average price is $301.77 and its two-hundred day moving average price is $296.81. RenaissanceRe Holdings Ltd. has a 52 week low of $231.17 and a 52 week high of $329.57.

RenaissanceRe (NYSE:RNR - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $13.75 earnings per share for the quarter. RenaissanceRe had a net margin of 24.25% and a return on equity of 24.01%. The company had revenue of $2.19 billion during the quarter. On average, analysts expect that RenaissanceRe Holdings Ltd. will post 40.57 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $0.41 dividend. The ex-dividend date of this dividend was 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%.

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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