UBS Group AG Increases Position in RenaissanceRe Holdings Ltd. $RNR

UBS Group AG boosted its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 41.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 136,696 shares of the insurance provider’s stock after acquiring an additional 40,273 shares during the quarter. UBS Group AG’s holdings in RenaissanceRe were worth $38,433,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital World Investors lifted its stake in shares of RenaissanceRe by 0.3% in the third quarter. Capital World Investors now owns 2,649,518 shares of the insurance provider’s stock worth $672,792,000 after buying an additional 7,839 shares in the last quarter. Lightrock Netherlands B.V. lifted its stake in shares of RenaissanceRe by 4,690.1% in the fourth quarter. Lightrock Netherlands B.V. now owns 1,017,508 shares of the insurance provider’s stock worth $286,083,000 after buying an additional 996,266 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of RenaissanceRe by 4.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,001,410 shares of the insurance provider’s stock worth $254,273,000 after buying an additional 45,936 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of RenaissanceRe by 17.6% in the second quarter. Bank of America Corp DE now owns 803,547 shares of the insurance provider’s stock worth $195,182,000 after buying an additional 120,063 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of RenaissanceRe by 6.2% in the third quarter. Invesco Ltd. now owns 618,974 shares of the insurance provider’s stock worth $157,176,000 after buying an additional 36,254 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Down 0.6%

Shares of RenaissanceRe stock opened at $300.73 on Friday. The company has a market cap of $12.82 billion, a price-to-earnings ratio of 5.01, a price-to-earnings-growth ratio of 0.81 and a beta of 0.22. The company’s 50 day moving average is $301.47 and its 200 day moving average is $283.17. RenaissanceRe Holdings Ltd. has a twelve month low of $231.17 and a twelve month high of $318.20. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.22.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data on Tuesday, April 28th. The insurance provider reported $13.75 earnings per share for the quarter, beating analysts’ consensus estimates of $11.07 by $2.68. The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.84 billion. RenaissanceRe had a net margin of 24.25% and a return on equity of 24.01%. The firm’s revenue for the quarter was down 36.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.49) earnings per share. Research analysts anticipate that RenaissanceRe Holdings Ltd. will post 39.08 EPS for the current year.

RenaissanceRe Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.41 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.64 annualized dividend and a yield of 0.5%. RenaissanceRe’s dividend payout ratio (DPR) is presently 2.73%.

Analyst Ratings Changes

Several brokerages have recently issued reports on RNR. Wells Fargo & Company upped their target price on shares of RenaissanceRe from $305.00 to $306.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Keefe, Bruyette & Woods upped their target price on shares of RenaissanceRe from $323.00 to $327.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of RenaissanceRe in a research note on Friday, March 27th. Citigroup upped their target price on shares of RenaissanceRe from $333.00 to $335.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Finally, TD Cowen upped their target price on shares of RenaissanceRe from $280.00 to $290.00 and gave the stock a “hold” rating in a research note on Thursday, February 26th. Four equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, RenaissanceRe currently has an average rating of “Hold” and a consensus target price of $322.93.

RenaissanceRe 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.