RenaissanceRe Holdings Ltd. (NYSE:RNR) Holdings Raised by New York Life Investment Management LLC

New York Life Investment Management LLC lifted its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 9.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,747 shares of the insurance provider’s stock after purchasing an additional 479 shares during the quarter. New York Life Investment Management LLC’s holdings in RenaissanceRe were worth $1,126,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of RenaissanceRe by 2.3% during the third quarter. Vanguard Group Inc. now owns 5,417,518 shares of the insurance provider’s stock valued at $1,072,235,000 after purchasing an additional 120,302 shares in the last quarter. Boston Partners grew its holdings in RenaissanceRe by 7.1% during the third quarter. Boston Partners now owns 2,052,716 shares of the insurance provider’s stock worth $406,390,000 after acquiring an additional 135,861 shares during the period. Polar Capital Holdings Plc grew its holdings in RenaissanceRe by 7.5% during the third quarter. Polar Capital Holdings Plc now owns 1,104,756 shares of the insurance provider’s stock worth $218,653,000 after acquiring an additional 77,319 shares during the period. Cooke & Bieler LP grew its holdings in RenaissanceRe by 97.9% during the fourth quarter. Cooke & Bieler LP now owns 1,088,978 shares of the insurance provider’s stock worth $213,440,000 after acquiring an additional 538,636 shares during the period. Finally, Earnest Partners LLC grew its holdings in RenaissanceRe by 2.9% during the third quarter. Earnest Partners LLC now owns 548,496 shares of the insurance provider’s stock worth $108,558,000 after acquiring an additional 15,692 shares during the period. 99.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RNR. Evercore ISI lifted their target price on RenaissanceRe from $216.00 to $218.00 and gave the stock an “underperform” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. boosted their price objective on RenaissanceRe from $237.00 to $245.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. UBS Group boosted their price objective on RenaissanceRe from $229.00 to $238.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. TD Cowen began coverage on RenaissanceRe in a report on Wednesday, January 10th. They set a “market perform” rating on the stock. Finally, BMO Capital Markets boosted their price objective on RenaissanceRe from $216.00 to $295.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $249.00.

Insider Activity

In related news, Director Carol P. Sanders sold 880 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $227.59, for a total value of $200,279.20. Following the completion of the sale, the director now owns 5,363 shares of the company’s stock, valued at approximately $1,220,565.17. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.80% of the stock is owned by corporate insiders.

RenaissanceRe Price Performance

Shares of RNR opened at $225.01 on Wednesday. The company has a market capitalization of $11.90 billion, a price-to-earnings ratio of 4.97, a P/E/G ratio of 1.95 and a beta of 0.31. RenaissanceRe Holdings Ltd. has a fifty-two week low of $174.22 and a fifty-two week high of $239.42. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.41 and a quick ratio of 1.41. The business’s 50-day moving average is $226.33 and its 200-day moving average is $216.37.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Tuesday, April 30th. The insurance provider reported $12.18 earnings per share for the quarter, beating analysts’ consensus estimates of $9.86 by $2.32. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.05 billion. RenaissanceRe had a return on equity of 27.09% and a net margin of 24.79%. The firm’s quarterly revenue was up 41.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.16 EPS. Equities research analysts expect that RenaissanceRe Holdings Ltd. will post 35.4 EPS for the current fiscal year.

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.