Boston Partners Increases Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Boston Partners increased its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 28.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,013,382 shares of the insurance provider’s stock after purchasing an additional 446,781 shares during the period. Boston Partners’ holdings in RenaissanceRe were worth $500,991,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Corient Private Wealth LLC boosted its stake in shares of RenaissanceRe by 19.9% in the 4th quarter. Corient Private Wealth LLC now owns 9,247 shares of the insurance provider’s stock valued at $2,299,000 after purchasing an additional 1,532 shares in the last quarter. Royce & Associates LP boosted its position in RenaissanceRe by 1.0% during the 4th quarter. Royce & Associates LP now owns 115,196 shares of the insurance provider’s stock valued at $28,662,000 after buying an additional 1,136 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in RenaissanceRe by 2.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,541 shares of the insurance provider’s stock valued at $1,130,000 after buying an additional 117 shares during the period. Catalyst Funds Management Pty Ltd boosted its position in RenaissanceRe by 966.7% during the 4th quarter. Catalyst Funds Management Pty Ltd now owns 3,200 shares of the insurance provider’s stock valued at $796,000 after buying an additional 2,900 shares during the period. Finally, Hilton Capital Management LLC boosted its position in RenaissanceRe by 4.5% during the 4th quarter. Hilton Capital Management LLC now owns 7,373 shares of the insurance provider’s stock valued at $1,834,000 after buying an additional 319 shares during the period. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Insiders Place Their Bets

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total transaction of $254,160.00. Following the sale, the executive vice president now owns 79,392 shares in the company, valued at approximately $20,178,270.72. This trade represents a 1.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

RNR has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price target on shares of RenaissanceRe from $280.00 to $284.00 and gave the company a “neutral” rating in a research report on Friday, January 3rd. Wells Fargo & Company decreased their price objective on shares of RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. JMP Securities restated a “market perform” rating on shares of RenaissanceRe in a report on Thursday, January 30th. Keefe, Bruyette & Woods decreased their price objective on shares of RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a report on Tuesday, February 4th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $282.00 price objective (down from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $279.90.

RenaissanceRe Stock Performance

Shares of RNR stock opened at $245.35 on Tuesday. The company’s 50-day moving average is $242.13 and its 200 day moving average is $257.56. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42. The company has a market capitalization of $12.08 billion, a price-to-earnings ratio of 7.01, a price-to-earnings-growth ratio of 2.09 and a beta of 0.38. RenaissanceRe Holdings Ltd. has a one year low of $208.98 and a one year high of $300.00.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.94 by $1.12. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. Sell-side analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.40 per share. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.60 dividend on an annualized basis and a yield of 0.65%. RenaissanceRe’s dividend payout ratio (DPR) is presently 4.57%.

RenaissanceRe 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.