Universal Beteiligungs und Servicegesellschaft mbH Grows Position in RenaissanceRe Holdings Ltd. $RNR

Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 55.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,470 shares of the insurance provider’s stock after purchasing an additional 3,742 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in RenaissanceRe were worth $2,659,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of RNR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of RenaissanceRe by 39.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,687 shares of the insurance provider’s stock valued at $2,325,000 after buying an additional 2,737 shares during the period. Millennium Management LLC purchased a new stake in RenaissanceRe during the first quarter valued at about $15,289,000. Jones Financial Companies Lllp increased its stake in RenaissanceRe by 900.0% during the first quarter. Jones Financial Companies Lllp now owns 1,350 shares of the insurance provider’s stock worth $324,000 after acquiring an additional 1,215 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in RenaissanceRe by 72.5% during the first quarter. Goldman Sachs Group Inc. now owns 57,186 shares of the insurance provider’s stock worth $13,725,000 after acquiring an additional 24,027 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in shares of RenaissanceRe by 13.4% in the 2nd quarter. Signaturefd LLC now owns 483 shares of the insurance provider’s stock worth $117,000 after purchasing an additional 57 shares during the period. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RNR. Mizuho set a $277.00 target price on RenaissanceRe in a report on Wednesday, January 14th. Evercore ISI lifted their price target on shares of RenaissanceRe from $250.00 to $283.00 and gave the company an “in-line” rating in a research report on Wednesday, January 7th. Cantor Fitzgerald boosted their price objective on shares of RenaissanceRe from $252.00 to $282.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. TD Cowen reissued a “hold” rating on shares of RenaissanceRe in a research report on Thursday, January 8th. Finally, Keefe, Bruyette & Woods raised their target price on shares of RenaissanceRe from $270.00 to $314.00 and gave the company a “market perform” rating in a research note on Tuesday, January 6th. Five investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $298.07.

RenaissanceRe Stock Up 2.6%

Shares of NYSE:RNR opened at $282.51 on Friday. The company has a market capitalization of $13.03 billion, a price-to-earnings ratio of 7.85, a price-to-earnings-growth ratio of 2.88 and a beta of 0.26. The company has a 50 day moving average of $272.08 and a two-hundred day moving average of $256.72. RenaissanceRe Holdings Ltd. has a 52-week low of $219.00 and a 52-week high of $285.26. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.21.

RenaissanceRe (NYSE:RNR) last posted its earnings results on Tuesday, October 28th. The insurance provider reported $15.62 EPS for the quarter, topping analysts’ consensus estimates of $9.49 by $6.13. The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $1.97 billion. RenaissanceRe had a net margin of 14.23% and a return on equity of 16.83%. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the previous year, the company posted $10.23 earnings per share. As a group, analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were issued a $0.40 dividend. The ex-dividend date was Monday, December 15th. This represents a $1.60 dividend on an annualized basis and a yield of 0.6%. RenaissanceRe’s payout ratio is currently 4.45%.

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.