5,900 Shares in RenaissanceRe Holdings Ltd. $RNR Acquired by Delta Global Management LP

Delta Global Management LP acquired a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) in the first quarter, HoldingsChannel reports. The firm acquired 5,900 shares of the insurance provider’s stock, valued at approximately $1,754,000.

Other hedge funds also recently bought and sold shares of the company. Boston Partners increased its stake in RenaissanceRe by 9.9% in the fourth quarter. Boston Partners now owns 1,423,483 shares of the insurance provider’s stock worth $400,150,000 after purchasing an additional 128,245 shares during the period. Lightrock Netherlands B.V. boosted its stake in shares of RenaissanceRe by 15.8% during the first quarter. Lightrock Netherlands B.V. now owns 1,178,423 shares of the insurance provider’s stock valued at $350,263,000 after purchasing an additional 160,915 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of RenaissanceRe by 5.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,085,380 shares of the insurance provider’s stock valued at $322,603,000 after purchasing an additional 52,371 shares during the period. Bank of America Corp DE grew its holdings in shares of RenaissanceRe by 17.6% in the second quarter. Bank of America Corp DE now owns 803,547 shares of the insurance provider’s stock worth $195,182,000 after purchasing an additional 120,063 shares during the last quarter. Finally, Orbis Allan Gray Ltd bought a new position in shares of RenaissanceRe in the fourth quarter worth about $178,519,000. Institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Performance

RNR stock opened at $328.33 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38. The business has a 50-day moving average price of $305.10 and a 200 day moving average price of $298.57. The company has a market capitalization of $13.64 billion, a P/E ratio of 5.63, a PEG ratio of 1.24 and a beta of 0.17. RenaissanceRe Holdings Ltd. has a 1-year low of $231.17 and a 1-year high of $329.60.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings data on Wednesday, July 22nd. The insurance provider reported $12.92 earnings per share for the quarter, topping analysts’ consensus estimates of $11.72 by $1.20. RenaissanceRe had a net margin of 23.65% and a return on equity of 23.10%. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same period in the prior year, the firm earned $12.29 earnings per share. As a group, equities research analysts forecast that RenaissanceRe Holdings Ltd. will post 41.08 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a $0.41 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.64 annualized dividend and a dividend yield of 0.5%. RenaissanceRe’s payout ratio is currently 2.81%.

Wall Street Analysts Forecast Growth

RNR has been the subject of a number of research analyst reports. Wolfe Research set a $315.00 price objective on shares of RenaissanceRe in a report on Tuesday, July 7th. Keefe, Bruyette & Woods upped their target price on shares of RenaissanceRe from $327.00 to $342.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 8th. UBS Group raised their target price on shares of RenaissanceRe from $326.00 to $342.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Wells Fargo & Company lifted their price target on shares of RenaissanceRe from $306.00 to $329.00 and gave the company an “equal weight” rating in a research note on Thursday, July 9th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of RenaissanceRe in a research note on Thursday. Five analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $335.33.

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.