RenaissanceRe Holdings Ltd. $RNR Shares Bought by Van Lanschot Kempen Investment Management N.V.

Key Points

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Van Lanschot Kempen Investment Management N.V. lifted its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 12.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 245,977 shares of the insurance provider's stock after buying an additional 27,028 shares during the quarter. Van Lanschot Kempen Investment Management N.V. owned 0.51% of RenaissanceRe worth $59,034,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Quantbot Technologies LP purchased a new stake in shares of RenaissanceRe in the first quarter valued at approximately $4,553,000. Brooklyn Investment Group boosted its stake in shares of RenaissanceRe by 151.7% in the first quarter. Brooklyn Investment Group now owns 146 shares of the insurance provider's stock valued at $35,000 after buying an additional 88 shares in the last quarter. Northwest & Ethical Investments L.P. boosted its stake in shares of RenaissanceRe by 10.7% in the first quarter. Northwest & Ethical Investments L.P. now owns 93,907 shares of the insurance provider's stock valued at $22,538,000 after buying an additional 9,109 shares in the last quarter. Raymond James Financial Inc. boosted its stake in shares of RenaissanceRe by 9.1% in the first quarter. Raymond James Financial Inc. now owns 37,249 shares of the insurance provider's stock valued at $8,940,000 after buying an additional 3,094 shares in the last quarter. Finally, Cresset Asset Management LLC boosted its stake in shares of RenaissanceRe by 15.8% in the first quarter. Cresset Asset Management LLC now owns 1,558 shares of the insurance provider's stock valued at $374,000 after buying an additional 213 shares in the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RNR has been the topic of a number of analyst reports. Citigroup initiated coverage on RenaissanceRe in a research note on Wednesday, August 13th. They issued a "buy" rating and a $288.00 price target on the stock. Morgan Stanley decreased their price target on RenaissanceRe from $285.00 to $280.00 and set an "overweight" rating on the stock in a research note on Monday, July 14th. Keefe, Bruyette & Woods lifted their price target on RenaissanceRe from $268.00 to $269.00 and gave the company a "market perform" rating in a research note on Monday, July 28th. UBS Group lifted their price objective on RenaissanceRe from $250.00 to $265.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating and set a $269.00 price objective (up from $267.00) on shares of RenaissanceRe in a report on Thursday, July 10th. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $282.09.

RenaissanceRe Price Performance

RNR stock traded down $1.1290 during midday trading on Friday, hitting $248.0210. 307,587 shares of the stock were exchanged, compared to its average volume of 351,488. The stock's 50-day moving average price is $241.52 and its 200-day moving average price is $240.49. The stock has a market cap of $11.67 billion, a price-to-earnings ratio of 6.34, a PEG ratio of 2.43 and a beta of 0.29. RenaissanceRe Holdings Ltd. has a fifty-two week low of $219.00 and a fifty-two week high of $300.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.36 and a current ratio of 1.36.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $12.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.28 by $2.01. The firm had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.96 billion. RenaissanceRe had a return on equity of 15.00% and a net margin of 15.44%.RenaissanceRe's revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $12.41 earnings per share. Research analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, September 15th. RenaissanceRe's payout ratio is 4.09%.

About RenaissanceRe

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.