Egerton Capital UK LLP Purchases Shares of 490,626 RenaissanceRe Holdings Ltd. $RNR

Egerton Capital UK LLP purchased a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 490,626 shares of the insurance provider’s stock, valued at approximately $137,944,000. RenaissanceRe makes up approximately 1.5% of Egerton Capital UK LLP’s holdings, making the stock its 20th largest position. Egerton Capital UK LLP owned approximately 1.06% of RenaissanceRe as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Kingdom Financial Group LLC. bought a new position in shares of RenaissanceRe in the fourth quarter valued at $36,000. Quarry LP raised its stake in RenaissanceRe by 65.0% during the 3rd quarter. Quarry LP now owns 132 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 52 shares during the period. CIBC Private Wealth Group LLC raised its stake in RenaissanceRe by 235.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 94 shares during the period. SBI Securities Co. Ltd. raised its stake in RenaissanceRe by 33.6% during the 4th quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 37 shares during the period. Finally, Clearstead Advisors LLC raised its stake in RenaissanceRe by 134.7% during the 4th quarter. Clearstead Advisors LLC now owns 176 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 101 shares during the period. Institutional investors own 99.97% of the company’s stock.

RenaissanceRe Trading Up 0.2%

RenaissanceRe stock opened at $288.94 on Monday. The company’s fifty day simple moving average is $299.29 and its 200-day simple moving average is $288.43. 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 Holdings Ltd. has a 12 month low of $231.17 and a 12 month high of $318.20. The stock has a market cap of $12.32 billion, a P/E ratio of 4.82, a P/E/G ratio of 0.79 and a beta of 0.19.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $13.75 EPS for the quarter. RenaissanceRe had a net margin of 24.25% and a return on equity of 24.01%. The business had revenue of $2.19 billion for the quarter. As a group, sell-side analysts forecast that RenaissanceRe Holdings Ltd. will post 40.02 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Monday, June 15th. RenaissanceRe’s payout ratio is currently 2.73%.

Analyst Ratings Changes

RNR has been the topic of several recent analyst reports. UBS Group boosted their target price on shares of RenaissanceRe from $319.00 to $326.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Weiss Ratings raised shares of RenaissanceRe from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, May 26th. Wells Fargo & Company boosted their target price on shares of RenaissanceRe from $305.00 to $306.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. Evercore set a $309.00 target price on shares of RenaissanceRe in a research note on Thursday, April 9th. Finally, Citigroup boosted their target price on shares of RenaissanceRe from $333.00 to $335.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Four equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $322.93.

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.