Lightrock Netherlands B.V. Purchases 996,266 Shares of RenaissanceRe Holdings Ltd. $RNR

Key Points

• Lightrock Netherlands boosted its stake in RenaissanceRe by 996,266 shares (a 4,690.1% increase) to 1,017,508 shares in Q4, making RNR about 29.5% of the fund's portfolio and representing roughly 2.21% of RenaissanceRe worth $286.1 million.
• RenaissanceRe reported a strong quarter—$13.34 EPS vs. $10.59 expected and revenue of $2.97 billion (up 29.6% year-over-year)—but analysts maintain a consensus "Hold" rating with a $322.64 average price target (mix of 4 Buys, 13 Holds, 1 Sell).
• The company raised its quarterly dividend to $0.41 ($1.64 annualized, 0.5% yield) and trades at a low P/E of 5.49 with a $13.42 billion market cap, while institutional ownership stands at about 99.97%.

Lightrock Netherlands B.V. increased its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 4,690.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,017,508 shares of the insurance provider's stock after acquiring an additional 996,266 shares during the quarter. RenaissanceRe makes up about 29.5% of Lightrock Netherlands B.V.'s portfolio, making the stock its biggest holding. Lightrock Netherlands B.V. owned approximately 2.21% of RenaissanceRe worth $286,083,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Consulate Inc. purchased a new stake in RenaissanceRe in the 3rd quarter valued at about $29,000. Farther Finance Advisors LLC raised its holdings in RenaissanceRe by 151.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 131 shares of the insurance provider's stock valued at $33,000 after buying an additional 79 shares during the period. Quarry LP raised its holdings in RenaissanceRe by 65.0% in the 3rd quarter. Quarry LP now owns 132 shares of the insurance provider's stock valued at $34,000 after buying an additional 52 shares during the period. CIBC Private Wealth Group LLC raised its holdings in RenaissanceRe by 235.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider's stock valued at $34,000 after buying an additional 94 shares during the period. Finally, Root Financial Partners LLC purchased a new stake in RenaissanceRe in the 3rd quarter valued at about $36,000. Institutional investors and hedge funds own 99.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RNR. JPMorgan Chase & Co. boosted their price objective on shares of RenaissanceRe from $303.00 to $329.00 and gave the company a "neutral" rating in a report on Wednesday, January 7th. TD Cowen boosted their price objective on shares of RenaissanceRe from $280.00 to $290.00 and gave the company a "hold" rating in a report on Thursday, February 26th. UBS Group boosted their price objective on shares of RenaissanceRe from $312.00 to $319.00 and gave the company a "neutral" rating in a report on Wednesday, April 8th. Zacks Research lowered shares of RenaissanceRe from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 6th. Finally, The Goldman Sachs Group restated a "sell" rating and issued a $267.00 price objective on shares of RenaissanceRe in a report on Wednesday, January 7th. Four equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, RenaissanceRe currently has a consensus rating of "Hold" and a consensus price target of $322.64.

RenaissanceRe Stock Performance

NYSE RNR opened at $311.06 on Thursday. The company has a market cap of $13.42 billion, a P/E ratio of 5.49, a P/E/G ratio of 0.70 and a beta of 0.24. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.43 and a quick ratio of 1.43. The stock has a 50-day moving average of $299.46 and a two-hundred day moving average of $278.09. RenaissanceRe Holdings Ltd. has a 1-year low of $222.75 and a 1-year high of $315.88.

RenaissanceRe (NYSE:RNR - Get Free Report) last released its earnings results on Tuesday, February 3rd. The insurance provider reported $13.34 earnings per share for the quarter, beating the consensus estimate of $10.59 by $2.75. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $1.73 billion. RenaissanceRe had a return on equity of 18.29% and a net margin of 20.88%.RenaissanceRe's revenue was up 29.6% compared to the same quarter last year. During the same period in the previous year, the company posted $8.06 EPS. As a group, analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were given a $0.41 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $1.64 annualized dividend and a yield of 0.5%. This is an increase from RenaissanceRe's previous quarterly dividend of $0.40. RenaissanceRe's dividend payout ratio is presently 2.89%.

Insiders Place Their Bets

In other RenaissanceRe news, EVP Robert Qutub sold 5,000 shares of RenaissanceRe stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $305.75, for a total value of $1,528,750.00. Following the completion of the transaction, the executive vice president directly owned 73,023 shares of the company's stock, valued at $22,326,782.25. The trade was a 6.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.30% of the stock is currently owned by corporate insiders.

RenaissanceRe Company Profile

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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