Inceptionr LLC Buys 2,162 Shares of RenaissanceRe Holdings Ltd. $RNR

Inceptionr LLC increased its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 144.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,660 shares of the insurance provider’s stock after acquiring an additional 2,162 shares during the quarter. Inceptionr LLC’s holdings in RenaissanceRe were worth $1,029,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Capital World Investors boosted its stake in RenaissanceRe by 0.3% during the third quarter. Capital World Investors now owns 2,649,518 shares of the insurance provider’s stock worth $672,792,000 after acquiring an additional 7,839 shares in the last quarter. Lightrock Netherlands B.V. boosted its stake in RenaissanceRe by 4,690.1% during the fourth quarter. Lightrock Netherlands B.V. now owns 1,017,508 shares of the insurance provider’s stock worth $286,083,000 after acquiring an additional 996,266 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in RenaissanceRe by 4.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,001,410 shares of the insurance provider’s stock worth $254,273,000 after acquiring an additional 45,936 shares in the last quarter. Bank of America Corp DE boosted its stake in RenaissanceRe by 17.6% during the second quarter. Bank of America Corp DE now owns 803,547 shares of the insurance provider’s stock worth $195,182,000 after acquiring an additional 120,063 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in RenaissanceRe by 6.2% during the third quarter. Invesco Ltd. now owns 618,974 shares of the insurance provider’s stock worth $157,176,000 after acquiring an additional 36,254 shares in the last quarter. 99.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on RNR. Cantor Fitzgerald raised shares of RenaissanceRe from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $306.00 to $340.00 in a research note on Thursday, April 9th. Bank of America cut their target price on shares of RenaissanceRe to $426.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. UBS Group raised their price objective on shares of RenaissanceRe from $319.00 to $326.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Keefe, Bruyette & Woods raised their price objective on shares of RenaissanceRe from $323.00 to $327.00 and gave the company a “market perform” rating in a research note on Tuesday, April 7th. 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 assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, RenaissanceRe presently has an average rating of “Hold” and a consensus price target of $323.64.

RenaissanceRe Stock Up 4.9%

RenaissanceRe stock opened at $296.54 on Thursday. 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 $12.64 billion, a price-to-earnings ratio of 4.94, a price-to-earnings-growth ratio of 0.78 and a beta of 0.18. The firm’s fifty day moving average price is $298.88 and its two-hundred day moving average price is $288.95. 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 data on Tuesday, March 31st. The insurance provider reported $13.75 earnings per share for the quarter. The firm had revenue of $2.19 billion for the quarter. RenaissanceRe had a net margin of 24.25% and a return on equity of 24.01%. On average, equities research analysts predict that RenaissanceRe Holdings Ltd. will post 40.02 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.41 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.64 annualized dividend and a dividend yield of 0.6%. RenaissanceRe’s dividend payout ratio is currently 2.73%.

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.