Lightrock Netherlands B.V. Acquires 160,915 Shares of RenaissanceRe Holdings Ltd. $RNR

Lightrock Netherlands B.V. increased its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 15.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 1,178,423 shares of the insurance provider’s stock after acquiring an additional 160,915 shares during the period. RenaissanceRe accounts for approximately 35.4% of Lightrock Netherlands B.V.’s portfolio, making the stock its biggest position. Lightrock Netherlands B.V.’s holdings in RenaissanceRe were worth $350,263,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Kingdom Financial Group LLC. acquired a new stake in RenaissanceRe in the 4th quarter valued at $36,000. Quarry LP lifted its position in RenaissanceRe by 65.0% during the 3rd quarter. Quarry LP now owns 132 shares of the insurance provider’s stock worth $34,000 after buying an additional 52 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of RenaissanceRe by 235.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider’s stock worth $34,000 after buying an additional 94 shares during the last quarter. Mcguire Capital Advisors Inc. acquired a new position in shares of RenaissanceRe during the 4th quarter worth about $38,000. Finally, SBI Securities Co. Ltd. grew its holdings in shares of RenaissanceRe by 33.6% in the 4th quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock valued at $41,000 after acquiring an additional 37 shares in the last quarter. Institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Up 2.3%

Shares of RNR stock opened at $314.74 on Friday. RenaissanceRe Holdings Ltd. has a 52-week low of $231.17 and a 52-week high of $329.57. The stock has a market cap of $13.42 billion, a price-to-earnings ratio of 5.25, a PEG ratio of 1.14 and a beta of 0.17. The firm’s 50-day moving average is $301.77 and its 200-day moving average is $296.81. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.37 and a current ratio of 1.37.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $13.75 EPS for the quarter. The business had revenue of $2.19 billion during the quarter. RenaissanceRe had a return on equity of 24.01% and a net margin of 24.25%. Sell-side analysts predict that RenaissanceRe Holdings Ltd. will post 40.57 EPS for the current year.

RenaissanceRe Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Monday, June 15th. RenaissanceRe’s payout ratio is currently 2.73%.

Analysts Set New Price Targets

A number of analysts recently issued reports on RNR shares. UBS Group lifted their target price on RenaissanceRe from $326.00 to $342.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Wall Street Zen downgraded RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Cantor Fitzgerald boosted their price target on RenaissanceRe from $340.00 to $354.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Evercore set a $320.00 price objective on RenaissanceRe in a research note on Friday, July 10th. Finally, Mizuho increased their price objective on RenaissanceRe from $325.00 to $329.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Five investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, RenaissanceRe currently has an average rating of “Hold” and an average target price of $331.80.

About RenaissanceRe

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.