UBS Group AG Purchases 40,273 Shares of RenaissanceRe Holdings Ltd. $RNR

Key Points

• UBS Group AG increased its stake in RenaissanceRe by 41.8% in Q4, acquiring 40,273 shares to hold 136,696 shares worth about $38.4 million (≈0.30% of the company).
• Several other institutions also bulked up positions—most notably Lightrock Netherlands (+996,266 shares to 1,017,508 shares, ~$286M) and M&T Bank (+286,894 shares)—leaving institutional investors with roughly 99.97% ownership.
• RenaissanceRe beat quarterly EPS estimates ($13.75 vs. $11.07) despite revenue declining 36.8% YoY, and analysts hold a consensus Hold rating with a $322.93 price target.

UBS Group AG grew its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 41.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 136,696 shares of the insurance provider's stock after acquiring an additional 40,273 shares during the period. UBS Group AG owned about 0.30% of RenaissanceRe worth $38,433,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of RNR. Lightrock Netherlands B.V. raised its stake in shares of RenaissanceRe by 4,690.1% during the fourth quarter. Lightrock Netherlands B.V. now owns 1,017,508 shares of the insurance provider's stock valued at $286,083,000 after acquiring an additional 996,266 shares during the last quarter. M&T Bank Corp raised its stake in shares of RenaissanceRe by 8,296.5% during the fourth quarter. M&T Bank Corp now owns 290,352 shares of the insurance provider's stock valued at $81,635,000 after acquiring an additional 286,894 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of RenaissanceRe by 154.5% during the third quarter. AQR Capital Management LLC now owns 397,027 shares of the insurance provider's stock valued at $99,769,000 after acquiring an additional 241,001 shares during the last quarter. Millennium Management LLC raised its stake in shares of RenaissanceRe by 347.6% during the third quarter. Millennium Management LLC now owns 236,919 shares of the insurance provider's stock valued at $60,161,000 after acquiring an additional 183,988 shares during the last quarter. Finally, Two Sigma Investments LP raised its stake in shares of RenaissanceRe by 330.0% during the third quarter. Two Sigma Investments LP now owns 174,368 shares of the insurance provider's stock valued at $44,277,000 after acquiring an additional 133,820 shares during the last quarter. 99.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RNR has been the subject of several recent analyst reports. Barclays lowered their price objective on shares of RenaissanceRe from $341.00 to $328.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 29th. Wall Street Zen cut shares of RenaissanceRe from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Evercore set a $309.00 price target on shares of RenaissanceRe in a research report on Thursday, April 9th. Morgan Stanley cut shares of RenaissanceRe from an "overweight" rating to an "equal weight" rating and set a $310.00 price target on the stock. in a research report on Thursday, February 26th. Finally, Cantor Fitzgerald upgraded shares of RenaissanceRe from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $306.00 to $340.00 in a research report on Thursday, April 9th. Four research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $322.93.

RenaissanceRe Price Performance

Shares of NYSE RNR opened at $300.73 on Friday. The stock has a market capitalization of $12.82 billion, a P/E ratio of 5.01, a P/E/G ratio of 0.81 and a beta of 0.22. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.37. RenaissanceRe Holdings Ltd. has a 1 year low of $231.17 and a 1 year high of $318.20. The company's 50-day moving average is $301.47 and its 200 day moving average is $283.17.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The insurance provider reported $13.75 earnings per share for the quarter, topping analysts' consensus estimates of $11.07 by $2.68. The business had revenue of $2.19 billion for the quarter, compared to analysts' expectations of $2.84 billion. RenaissanceRe had a net margin of 24.25% and a return on equity of 24.01%. The business's revenue was down 36.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.49) earnings per share. On average, sell-side analysts expect that RenaissanceRe Holdings Ltd. will post 39.08 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Monday, June 15th. RenaissanceRe's dividend payout ratio is 2.73%.

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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