Nordea Investment Management AB Has $3.60 Million Stock Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Nordea Investment Management AB increased its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 9.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 14,422 shares of the insurance provider’s stock after purchasing an additional 1,240 shares during the quarter. Nordea Investment Management AB’s holdings in RenaissanceRe were worth $3,604,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. ORG Wealth Partners LLC acquired a new stake in RenaissanceRe in the third quarter valued at approximately $30,000. UMB Bank n.a. grew its position in RenaissanceRe by 316.7% in the 3rd quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 95 shares during the period. Advisors Asset Management Inc. bought a new stake in RenaissanceRe during the 3rd quarter valued at $45,000. V Square Quantitative Management LLC raised its holdings in RenaissanceRe by 29.5% during the third quarter. V Square Quantitative Management LLC now owns 180 shares of the insurance provider’s stock worth $49,000 after buying an additional 41 shares during the last quarter. Finally, LRI Investments LLC lifted its stake in shares of RenaissanceRe by 668.8% in the third quarter. LRI Investments LLC now owns 246 shares of the insurance provider’s stock valued at $63,000 after buying an additional 214 shares in the last quarter. 99.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RNR. Evercore ISI boosted their target price on shares of RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a research report on Thursday, November 7th. Bank of America increased their price objective on RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Barclays cut RenaissanceRe from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $284.00 to $234.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods increased their price target on RenaissanceRe from $310.00 to $318.00 and gave the company an “outperform” rating in a research report on Friday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a report on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $286.36.

RenaissanceRe Price Performance

RNR opened at $250.01 on Friday. RenaissanceRe Holdings Ltd. has a fifty-two week low of $199.73 and a fifty-two week high of $300.00. The firm has a 50-day moving average of $264.06 and a 200 day moving average of $253.61. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.43 and a current ratio of 1.43. The firm has a market cap of $12.99 billion, a P/E ratio of 3.60, a PEG ratio of 1.31 and a beta of 0.44.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.89 by $2.34. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the business posted $8.33 EPS. RenaissanceRe’s quarterly revenue was up 52.1% compared to the same quarter last year. On average, research analysts expect that RenaissanceRe Holdings Ltd. will post 41.94 EPS for the current year.

RenaissanceRe Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a dividend of $0.39 per share. The ex-dividend date was Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.62%. RenaissanceRe’s dividend payout ratio is presently 2.25%.

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.