Martingale Asset Management L P Has $13.14 Million Stock Holdings in RenaissanceRe Holdings Ltd. $RNR

Martingale Asset Management L P boosted its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 28.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,736 shares of the insurance provider’s stock after purchasing an additional 10,345 shares during the period. Martingale Asset Management L P owned 0.10% of RenaissanceRe worth $13,140,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Kingdom Financial Group LLC. acquired a new position in RenaissanceRe during the fourth quarter valued at approximately $36,000. Quarry LP boosted its position in RenaissanceRe by 65.0% during the third quarter. Quarry LP now owns 132 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 52 shares during the last quarter. CIBC Private Wealth Group LLC boosted its position in RenaissanceRe by 235.0% during the third quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 94 shares during the last quarter. SBI Securities Co. Ltd. boosted its position in RenaissanceRe by 33.6% during the fourth quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 37 shares during the last quarter. Finally, Clearstead Advisors LLC boosted its position in RenaissanceRe by 134.7% during the fourth quarter. Clearstead Advisors LLC now owns 176 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 101 shares during the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

RenaissanceRe Trading Up 0.8%

Shares of RNR stock opened at $300.49 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.22. The stock has a market cap of $12.81 billion, a P/E ratio of 5.01, a price-to-earnings-growth ratio of 1.12 and a beta of 0.18. The stock has a 50 day simple moving average of $299.00 and a 200 day simple moving average of $289.32. RenaissanceRe Holdings Ltd. has a 1 year low of $231.17 and a 1 year high of $318.20.

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

RenaissanceRe Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts recently commented on RNR shares. Wells Fargo & Company increased their price target on RenaissanceRe from $305.00 to $306.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Cantor Fitzgerald upgraded RenaissanceRe from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $306.00 to $340.00 in a report on Thursday, April 9th. Mizuho set a $325.00 price target on RenaissanceRe in a report on Monday, May 4th. TD Cowen lifted their price target on RenaissanceRe from $280.00 to $290.00 and gave the stock a “hold” rating in a report on Thursday, February 26th. Finally, Evercore set a $309.00 price target on RenaissanceRe in a report on Thursday, April 9th. Five 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $323.64.

RenaissanceRe Company 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.