Lightrock Netherlands B.V. Raises Stock Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Lightrock Netherlands B.V. increased its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 61.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,717 shares of the insurance provider's stock after acquiring an additional 11,291 shares during the period. RenaissanceRe makes up about 1.9% of Lightrock Netherlands B.V.'s portfolio, making the stock its 28th largest holding. Lightrock Netherlands B.V. owned 0.06% of RenaissanceRe worth $7,144,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Capital World Investors grew its position in shares of RenaissanceRe by 8.8% during the 4th quarter. Capital World Investors now owns 2,882,835 shares of the insurance provider's stock valued at $717,278,000 after acquiring an additional 233,708 shares during the period. Boston Partners lifted its stake in RenaissanceRe by 28.5% in the 4th quarter. Boston Partners now owns 2,013,382 shares of the insurance provider's stock worth $500,991,000 after purchasing an additional 446,781 shares in the last quarter. Polar Capital Holdings Plc lifted its stake in RenaissanceRe by 5.7% in the 4th quarter. Polar Capital Holdings Plc now owns 1,298,190 shares of the insurance provider's stock worth $323,003,000 after purchasing an additional 69,884 shares in the last quarter. Geode Capital Management LLC raised its position in shares of RenaissanceRe by 24.3% during the 4th quarter. Geode Capital Management LLC now owns 1,144,805 shares of the insurance provider's stock valued at $284,907,000 after buying an additional 223,991 shares during the period. Finally, FIL Ltd raised its position in RenaissanceRe by 5.1% in the fourth quarter. FIL Ltd now owns 1,033,691 shares of the insurance provider's stock valued at $257,193,000 after purchasing an additional 49,804 shares during the period. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at RenaissanceRe

In related news, CAO James Christopher Fraser sold 332 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $249.54, for a total transaction of $82,847.28. Following the completion of the transaction, the chief accounting officer directly owned 27,154 shares of the company's stock, valued at $6,776,009.16. This represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.30% of the stock is owned by corporate insiders.

RenaissanceRe Stock Performance

Shares of RNR traded up $5.07 during mid-day trading on Friday, hitting $240.90. 332,916 shares of the company's stock were exchanged, compared to its average volume of 444,640. The firm has a market capitalization of $11.72 billion, a P/E ratio of 7.68, a P/E/G ratio of 2.89 and a beta of 0.30. RenaissanceRe Holdings Ltd. has a fifty-two week low of $210.51 and a fifty-two week high of $300.00. The business's 50 day moving average is $244.14 and its two-hundred day moving average is $242.61. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.29.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($1.17). The firm had revenue of $3.44 billion for the quarter, compared to analysts' expectations of $3.36 billion. RenaissanceRe had a return on equity of 15.90% and a net margin of 13.26%. The company's revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the company earned $12.18 earnings per share. On average, equities analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.60 annualized dividend and a yield of 0.66%. RenaissanceRe's dividend payout ratio is currently 5.10%.

Analyst Ratings Changes

A number of analysts have issued reports on RNR shares. Keefe, Bruyette & Woods boosted their target price on RenaissanceRe from $279.00 to $282.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. JMP Securities reissued a "market perform" rating on shares of RenaissanceRe in a research report on Thursday, April 24th. Bank of America cut their target price on RenaissanceRe from $437.00 to $426.00 and set a "buy" rating on the stock in a research report on Wednesday, March 26th. JPMorgan Chase & Co. raised RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 target price on the stock in a research report on Tuesday, April 8th. Finally, Barclays dropped their price target on shares of RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating for the company in a research note on Friday, April 11th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $283.60.

RenaissanceRe 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.