Y Intercept Hong Kong Ltd Buys Shares of 1,871 RenaissanceRe Holdings Ltd. $RNR

Y Intercept Hong Kong 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 filing with the SEC. The institutional investor bought 1,871 shares of the insurance provider’s stock, valued at approximately $454,000.

Several other hedge funds have also made changes to their positions in the business. IFP Advisors Inc increased its stake in RenaissanceRe by 160.0% in the second quarter. IFP Advisors Inc now owns 117 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 72 shares during the last quarter. Brooklyn Investment Group increased its holdings in RenaissanceRe by 151.7% in the 1st quarter. Brooklyn Investment Group now owns 146 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 88 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of RenaissanceRe by 43.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 186 shares of the insurance provider’s stock worth $45,000 after purchasing an additional 56 shares in the last quarter. LRI Investments LLC boosted its position in shares of RenaissanceRe by 116.5% in the first quarter. LRI Investments LLC now owns 262 shares of the insurance provider’s stock worth $63,000 after buying an additional 141 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in shares of RenaissanceRe by 10.5% during the 1st quarter. Advisors Asset Management Inc. now owns 441 shares of the insurance provider’s stock valued at $106,000 after buying an additional 42 shares during the period. Institutional investors and hedge funds own 99.97% of the company’s stock.

RenaissanceRe Stock Down 0.4%

RNR opened at $266.17 on Friday. The stock’s 50 day moving average price is $249.98 and its 200 day moving average price is $245.11. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.40 and a quick ratio of 1.36. The stock has a market cap of $12.27 billion, a P/E ratio of 7.40, a P/E/G ratio of 2.08 and a beta of 0.25. RenaissanceRe Holdings Ltd. has a 12 month low of $219.00 and a 12 month high of $300.00.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data on Tuesday, October 28th. The insurance provider reported $15.62 earnings per share for the quarter, beating analysts’ consensus estimates of $9.49 by $6.13. The business had revenue of $2.06 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 company’s revenue was down 4.8% on a year-over-year basis. During the same period in the previous year, the business earned $10.23 earnings per share. As a group, research analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Announces Dividend

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

Analyst Upgrades and Downgrades

RNR has been the subject of a number of research analyst reports. Morgan Stanley dropped their price target on shares of RenaissanceRe from $285.00 to $280.00 and set an “overweight” rating for the company in a research note on Monday, July 14th. Evercore ISI set a $244.00 target price on shares of RenaissanceRe and gave the company an “in-line” rating in a research note on Wednesday, October 1st. UBS Group lifted their price target on RenaissanceRe from $265.00 to $272.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of RenaissanceRe in a report on Friday, October 31st. Finally, The Goldman Sachs Group began coverage on RenaissanceRe in a report on Tuesday, October 14th. They set a “sell” rating and a $256.00 target price on the stock. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $283.67.

About RenaissanceRe

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.