Lecap Asset Management Ltd. Buys Shares of 838 RenaissanceRe Holdings Ltd. $RNR

Lecap Asset Management Ltd. bought a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 838 shares of the insurance provider’s stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of RNR. Price T Rowe Associates Inc. MD raised its holdings in RenaissanceRe by 37.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,496,035 shares of the insurance provider’s stock valued at $599,049,000 after acquiring an additional 676,125 shares during the period. Nuveen LLC bought a new stake in RenaissanceRe during the 1st quarter valued at $54,087,000. Cooke & Bieler LP raised its holdings in RenaissanceRe by 18.0% during the 1st quarter. Cooke & Bieler LP now owns 1,247,742 shares of the insurance provider’s stock valued at $299,458,000 after acquiring an additional 190,139 shares during the period. Great Lakes Advisors LLC raised its holdings in RenaissanceRe by 49.3% during the 1st quarter. Great Lakes Advisors LLC now owns 326,480 shares of the insurance provider’s stock valued at $78,355,000 after acquiring an additional 107,745 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in RenaissanceRe by 15.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 763,210 shares of the insurance provider’s stock valued at $183,175,000 after acquiring an additional 101,060 shares during the period. Institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Up 1.4%

RNR opened at $259.38 on Friday. The stock has a market cap of $12.21 billion, a PE ratio of 6.63, a P/E/G ratio of 2.51 and a beta of 0.27. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.23. RenaissanceRe Holdings Ltd. has a 52 week low of $219.00 and a 52 week high of $300.00. The business’s fifty day simple moving average is $244.40 and its 200 day simple moving average is $242.37.

RenaissanceRe (NYSE:RNR) last released its earnings results on Wednesday, July 23rd. The insurance provider reported $12.29 EPS for the quarter, beating analysts’ consensus estimates of $10.28 by $2.01. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.96 billion. RenaissanceRe had a return on equity of 15.00% and a net margin of 15.44%.The firm’s revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $12.41 earnings per share. As a group, research analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Monday, September 15th. RenaissanceRe’s dividend payout ratio is currently 4.09%.

Analysts Set New Price Targets

A number of brokerages have issued reports on RNR. Cantor Fitzgerald raised shares of RenaissanceRe to a “hold” rating in a report on Wednesday, August 13th. Keefe, Bruyette & Woods upped their price target on shares of RenaissanceRe from $268.00 to $269.00 and gave the stock a “market perform” rating in a report on Monday, July 28th. Evercore ISI set a $244.00 price target on shares of RenaissanceRe and gave the stock an “in-line” rating in a report on Wednesday. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $269.00 price target (up previously from $267.00) on shares of RenaissanceRe in a report on Thursday, July 10th. Finally, Wolfe Research initiated coverage on shares of RenaissanceRe in a report on Monday, September 15th. They issued a “peer perform” rating on the stock. Five equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, RenaissanceRe presently has a consensus rating of “Hold” and a consensus price target of $281.91.

RenaissanceRe Company 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.