Versor Investments LP Invests $314,000 in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Versor Investments LP acquired a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNRFree Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,600 shares of the insurance provider’s stock, valued at approximately $314,000.

A number of other large investors have also made changes to their positions in the stock. Cooke & Bieler LP boosted its stake in shares of RenaissanceRe by 97.9% during the 4th quarter. Cooke & Bieler LP now owns 1,088,978 shares of the insurance provider’s stock worth $213,440,000 after purchasing an additional 538,636 shares during the last quarter. AQR Capital Management LLC grew its stake in RenaissanceRe by 226.8% in the 3rd quarter. AQR Capital Management LLC now owns 280,666 shares of the insurance provider’s stock worth $55,549,000 after acquiring an additional 194,774 shares during the period. Boston Partners raised its holdings in RenaissanceRe by 7.1% in the 3rd quarter. Boston Partners now owns 2,052,716 shares of the insurance provider’s stock valued at $406,390,000 after acquiring an additional 135,861 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of RenaissanceRe by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 5,417,518 shares of the insurance provider’s stock worth $1,072,235,000 after purchasing an additional 120,302 shares during the period. Finally, Jennison Associates LLC boosted its holdings in shares of RenaissanceRe by 22.1% during the fourth quarter. Jennison Associates LLC now owns 533,127 shares of the insurance provider’s stock worth $104,493,000 after purchasing an additional 96,322 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

Analyst Ratings Changes

RNR has been the subject of several analyst reports. JPMorgan Chase & Co. upped their target price on RenaissanceRe from $237.00 to $245.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. BMO Capital Markets raised their price target on RenaissanceRe from $216.00 to $295.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Evercore ISI raised their price target on RenaissanceRe from $216.00 to $218.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 1st. Finally, UBS Group raised their price target on RenaissanceRe from $229.00 to $238.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $249.00.

Check Out Our Latest Research Report on RNR

RenaissanceRe Stock Performance

NYSE RNR opened at $223.15 on Wednesday. The firm has a market capitalization of $11.80 billion, a P/E ratio of 4.93, a P/E/G ratio of 1.94 and a beta of 0.31. RenaissanceRe Holdings Ltd. has a 1-year low of $174.22 and a 1-year high of $239.42. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.41 and a quick ratio of 1.41. The business’s 50-day simple moving average is $226.36 and its 200-day simple moving average is $216.74.

RenaissanceRe (NYSE:RNRGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The insurance provider reported $12.18 earnings per share for the quarter, beating the consensus estimate of $9.86 by $2.32. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.05 billion. RenaissanceRe had a return on equity of 27.09% and a net margin of 24.79%. The company’s revenue was up 41.3% compared to the same quarter last year. During the same period in the previous year, the company posted $8.16 EPS. Equities analysts predict that RenaissanceRe Holdings Ltd. will post 36.42 EPS for the current year.

RenaissanceRe Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.39 per share. The ex-dividend date is Friday, June 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.70%. RenaissanceRe’s payout ratio is currently 3.45%.

RenaissanceRe Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for RenaissanceRe (NYSE:RNR)

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