Robeco Institutional Asset Management B.V. Buys 112,910 Shares of RenaissanceRe Holdings Ltd. $RNR

Key Points

• Robeco Institutional Asset Management B.V. raised its stake in RenaissanceRe by 135.9%, buying an additional 112,910 shares in Q4 to hold 195,975 shares (about 0.43% of the company) valued at roughly $55.1 million.
• RenaissanceRe posted a strong quarter with $13.34 EPS vs. $10.59 consensus and revenue of $2.97 billion (up 29.6% year-over-year), and analysts forecast about 26.04 EPS for the current fiscal year.
• The company recently raised its quarterly dividend to $0.41 (annualized $1.64, yield ~0.5%), and the stock trades at a low PE of 5.43 with a market capitalization of about $13.28 billion.

Robeco Institutional Asset Management B.V. raised its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 135.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 195,975 shares of the insurance provider's stock after acquiring an additional 112,910 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.43% of RenaissanceRe worth $55,100,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. AQR Capital Management LLC increased its position in RenaissanceRe by 154.5% in the third quarter. AQR Capital Management LLC now owns 397,027 shares of the insurance provider's stock worth $99,769,000 after buying an additional 241,001 shares during the last quarter. Millennium Management LLC grew its stake in shares of RenaissanceRe by 347.6% during the 3rd quarter. Millennium Management LLC now owns 236,919 shares of the insurance provider's stock worth $60,161,000 after acquiring an additional 183,988 shares during the period. Two Sigma Investments LP grew its stake in shares of RenaissanceRe by 330.0% during the 3rd quarter. Two Sigma Investments LP now owns 174,368 shares of the insurance provider's stock worth $44,277,000 after acquiring an additional 133,820 shares during the period. Bank of America Corp DE increased its holdings in RenaissanceRe by 17.6% in the 2nd quarter. Bank of America Corp DE now owns 803,547 shares of the insurance provider's stock worth $195,182,000 after acquiring an additional 120,063 shares during the last quarter. Finally, Lighthouse Investment Partners LLC raised its stake in RenaissanceRe by 514.3% in the 3rd quarter. Lighthouse Investment Partners LLC now owns 113,256 shares of the insurance provider's stock valued at $28,759,000 after acquiring an additional 94,820 shares during the period. Hedge funds and other institutional investors own 99.97% of the company's stock.

RenaissanceRe Stock Performance

RenaissanceRe stock opened at $307.77 on Tuesday. The firm's 50 day simple moving average is $298.81 and its 200 day simple moving average is $277.46. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $13.28 billion, a PE ratio of 5.43, a price-to-earnings-growth ratio of 0.69 and a beta of 0.24. 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 posted its earnings results on Tuesday, February 3rd. The insurance provider reported $13.34 earnings per share for the quarter, topping analysts' consensus estimates of $10.59 by $2.75. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $1.73 billion. RenaissanceRe had a net margin of 20.88% and a return on equity of 18.29%. RenaissanceRe's revenue was up 29.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $8.06 EPS. 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from RenaissanceRe's previous quarterly dividend of $0.40. The ex-dividend date was Friday, March 13th. RenaissanceRe's dividend payout ratio (DPR) is 2.89%.

Insider Activity

In related news, EVP Robert Qutub sold 5,000 shares of the stock in a transaction on 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 sale, the executive vice president owned 73,023 shares in the company, valued at approximately $22,326,782.25. This trade represents a 6.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.30% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on RNR. The Goldman Sachs Group reaffirmed a "sell" rating and set a $267.00 price objective on shares of RenaissanceRe in a report on Wednesday, January 7th. Wall Street Zen upgraded shares of RenaissanceRe from a "hold" rating to a "buy" rating in a research report on Saturday, February 14th. Mizuho increased their target price on shares of RenaissanceRe from $313.00 to $318.00 and gave the stock a "neutral" rating in a research report on Monday. Zacks Research lowered shares of RenaissanceRe from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 6th. Finally, Citigroup increased their target price on shares of RenaissanceRe from $328.00 to $333.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 18th. Three research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $314.69.

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.

Want to see what other hedge funds are holding RNR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.