Boston Partners Purchases 128,245 Shares of RenaissanceRe Holdings Ltd. $RNR

Boston Partners boosted its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 9.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,423,483 shares of the insurance provider’s stock after purchasing an additional 128,245 shares during the period. Boston Partners owned about 3.09% of RenaissanceRe worth $400,150,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in RenaissanceRe by 4.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,001,410 shares of the insurance provider’s stock valued at $254,273,000 after buying an additional 45,936 shares during the last quarter. New Age Alpha Advisors LLC increased its stake in RenaissanceRe by 97.2% in the 3rd quarter. New Age Alpha Advisors LLC now owns 20,800 shares of the insurance provider’s stock valued at $5,165,000 after buying an additional 10,250 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in RenaissanceRe by 135.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 195,975 shares of the insurance provider’s stock valued at $55,100,000 after buying an additional 112,910 shares during the last quarter. Prana Capital Management LP increased its stake in shares of RenaissanceRe by 608.9% during the 3rd quarter. Prana Capital Management LP now owns 29,971 shares of the insurance provider’s stock worth $7,611,000 after purchasing an additional 25,743 shares during the last quarter. Finally, Belpointe Asset Management LLC increased its stake in shares of RenaissanceRe by 595.0% during the 4th quarter. Belpointe Asset Management LLC now owns 6,151 shares of the insurance provider’s stock worth $1,729,000 after purchasing an additional 5,266 shares during the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RNR. Barclays lowered their price objective on shares of RenaissanceRe from $341.00 to $328.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 29th. Citigroup upgraded shares of RenaissanceRe from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $335.00 to $345.00 in a research note on Wednesday. Keefe, Bruyette & Woods boosted their price objective on shares of RenaissanceRe from $323.00 to $327.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 7th. Bank of America lowered their price objective on shares of RenaissanceRe to $426.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Finally, Morgan Stanley lowered shares of RenaissanceRe from an “overweight” rating to an “equal weight” rating and set a $310.00 price objective on the stock. in a research note on Thursday, February 26th. Five investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $323.64.

RenaissanceRe Stock Up 0.8%

RenaissanceRe stock opened at $300.49 on Friday. RenaissanceRe Holdings Ltd. has a 1-year low of $231.17 and a 1-year high of $318.20. The firm has a market capitalization of $12.81 billion, a price-to-earnings ratio of 5.01, a price-to-earnings-growth ratio of 1.12 and a beta of 0.18. The firm’s fifty day moving average price is $299.00 and its two-hundred day moving average price is $289.32. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.22.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $13.75 earnings per share for the quarter. RenaissanceRe had a net margin of 24.25% and a return on equity of 24.01%. The company had revenue of $2.19 billion for the quarter. On average, equities research analysts predict that RenaissanceRe Holdings Ltd. will post 40.05 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.41 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.64 annualized dividend and a dividend yield of 0.5%. RenaissanceRe’s dividend payout ratio (DPR) is presently 2.73%.

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.