Van Lanschot Kempen Investment Management N.V. Grows Position in RenaissanceRe Holdings Ltd. $RNR

Key Points

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Van Lanschot Kempen Investment Management N.V. increased its position in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 12.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in RNR. Raymond James Financial Inc. bought a new stake in RenaissanceRe in the fourth quarter valued at approximately $8,498,000. Townsquare Capital LLC bought a new stake in RenaissanceRe in the fourth quarter valued at approximately $352,000. Mariner LLC boosted its holdings in RenaissanceRe by 12.8% in the fourth quarter. Mariner LLC now owns 11,480 shares of the insurance provider's stock valued at $2,856,000 after acquiring an additional 1,299 shares during the last quarter. GeoWealth Management LLC boosted its holdings in RenaissanceRe by 766.9% in the fourth quarter. GeoWealth Management LLC now owns 1,231 shares of the insurance provider's stock valued at $306,000 after acquiring an additional 1,089 shares during the last quarter. Finally, Forum Financial Management LP boosted its holdings in RenaissanceRe by 40.3% in the fourth quarter. Forum Financial Management LP now owns 1,392 shares of the insurance provider's stock valued at $346,000 after acquiring an additional 400 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company's stock.

RenaissanceRe Trading Down 0.5%

Shares of RenaissanceRe stock traded down $1.1290 on Friday, reaching $248.0210. 307,587 shares of the company's stock were exchanged, compared to its average volume of 480,139. The company has a market capitalization of $11.67 billion, a P/E ratio of 6.34, a price-to-earnings-growth ratio of 2.43 and a beta of 0.29. RenaissanceRe Holdings Ltd. has a 52 week low of $219.00 and a 52 week high of $300.00. The firm's 50-day moving average is $241.44 and its two-hundred day moving average is $240.35. 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 earnings results on Wednesday, July 23rd. The insurance provider reported $12.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.28 by $2.01. RenaissanceRe had a return on equity of 15.00% and a net margin of 15.44%.The company had revenue of $2.77 billion for the quarter, compared to analysts' expectations of $2.96 billion. During the same period last year, the business earned $12.41 EPS. RenaissanceRe's quarterly revenue was down 2.4% compared to the same quarter last year. Sell-side analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors 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 is Monday, September 15th. RenaissanceRe's dividend payout ratio (DPR) is currently 4.09%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RNR. Barclays upped their target price on RenaissanceRe from $256.00 to $273.00 and gave the company an "equal weight" rating in a report on Thursday, July 24th. UBS Group upped their target price on RenaissanceRe from $250.00 to $265.00 and gave the company a "neutral" rating in a report on Monday, July 28th. JMP Securities reiterated a "market perform" rating on shares of RenaissanceRe in a report on Thursday, April 24th. Morgan Stanley reduced their target price on RenaissanceRe from $285.00 to $280.00 and set an "overweight" rating on the stock in a report on Monday, July 14th. Finally, Citigroup began coverage on RenaissanceRe in a report on Wednesday, August 13th. They issued a "buy" rating and a $288.00 target price on the stock. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, RenaissanceRe has a consensus rating of "Hold" and an average price target of $282.09.

RenaissanceRe Company 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.