Horizon Investments LLC Boosts Holdings in RenaissanceRe Holdings Ltd. $RNR

Horizon Investments LLC raised its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 247,520.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,762 shares of the insurance provider’s stock after acquiring an additional 24,752 shares during the period. Horizon Investments LLC’s holdings in RenaissanceRe were worth $6,962,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd lifted its stake in shares of RenaissanceRe by 812.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 17,078 shares of the insurance provider’s stock worth $4,337,000 after acquiring an additional 15,207 shares during the period. Asset Management One Co. Ltd. acquired a new position in shares of RenaissanceRe during the third quarter worth about $1,564,000. Nordea Investment Management AB raised its holdings in RenaissanceRe by 207.2% during the third quarter. Nordea Investment Management AB now owns 41,871 shares of the insurance provider’s stock worth $10,539,000 after purchasing an additional 28,241 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its position in RenaissanceRe by 16.0% in the third quarter. Diamond Hill Capital Management Inc. now owns 119,240 shares of the insurance provider’s stock valued at $30,279,000 after purchasing an additional 16,448 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in RenaissanceRe by 4.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,001,410 shares of the insurance provider’s stock valued at $254,273,000 after purchasing an additional 45,936 shares during the period. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of RenaissanceRe in a research note on Friday, March 27th. UBS Group upped their price objective on RenaissanceRe from $312.00 to $319.00 and gave the stock a “neutral” rating in a report on Wednesday, April 8th. TD Cowen increased their price objective on RenaissanceRe from $280.00 to $290.00 and gave the stock a “hold” rating in a research report on Thursday, February 26th. Zacks Research downgraded RenaissanceRe from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Finally, Citigroup upped their price target on shares of RenaissanceRe from $333.00 to $335.00 and gave the stock a “neutral” rating in a research note on Friday. Four research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $321.93.

Insiders Place Their Bets

In other news, EVP Robert Qutub sold 5,000 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $305.75, for a total value of $1,528,750.00. Following the completion of the transaction, the executive vice president owned 73,023 shares in the company, valued at $22,326,782.25. This trade represents a 6.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.30% of the company’s stock.

RenaissanceRe Price Performance

Shares of NYSE:RNR opened at $298.83 on Friday. The firm has a market capitalization of $12.74 billion, a price-to-earnings ratio of 4.98, a price-to-earnings-growth ratio of 0.82 and a beta of 0.23. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.43. The business’s 50 day simple moving average is $301.47 and its 200-day simple moving average is $282.04. RenaissanceRe Holdings Ltd. has a 12 month low of $231.17 and a 12 month high of $318.20.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings data on Tuesday, April 28th. The insurance provider reported $13.75 earnings per share for the quarter, beating the consensus estimate of $11.07 by $2.68. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.84 billion. RenaissanceRe had a return on equity of 24.01% and a net margin of 24.25%.RenaissanceRe’s quarterly revenue was down 36.8% on a year-over-year basis. During the same period last year, the business posted ($1.49) EPS. As a group, equities analysts forecast that RenaissanceRe Holdings Ltd. will post 38.28 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 0.5%. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, March 13th. RenaissanceRe’s dividend payout ratio is currently 2.73%.

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.