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RenaissanceRe stock buoyed by institutional investors with 88% stake

EditorAmbhini Aishwarya
Published 23/11/2023, 11:58
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Investors in RenaissanceRe Holdings Ltd . (NYSE:RNR) have seen their one-year returns climb to a robust 18%, thanks in large part to significant institutional ownership. Institutions hold an influential 88% of the company's shares, a factor that has been central to the company's recent market capitalization milestone of $11 billion.

Leading the pack of institutional investors is The Vanguard Group, which commands around a 10% stake in RenaissanceRe. Other major shareholders include entities with 8.7% and 7.4% stakes respectively. Together, the top eleven shareholders possess just over half of the company's equity at precisely fifty-one percent, ensuring that no single investor has unchecked power.

CEO Kevin O'Donnell has shown his confidence in RenaissanceRe through personal investment, holding just under one percent of the company's shares. This aligns his interests with those of the company and its stakeholders. While institutional investors dominate, public shareholders still hold a collective ten percent of the shares, allowing them some leverage in company decisions.

InvestingPro Insights

Investors in RenaissanceRe Holdings Ltd. (NYSE:RNR) who have enjoyed an 18% return over the past year may find additional reasons for optimism in the latest InvestingPro data and tips. With a market capitalization now exceeding $11 billion, RenaissanceRe's financial health is reflected in a Revenue Growth of 76.71% over the last twelve months as of Q3 2023, showcasing the company's ability to expand its financial top line significantly.

An InvestingPro Tip highlights that RenaissanceRe has raised its dividend for 29 consecutive years, indicating a strong commitment to returning value to shareholders. This is further supported by the company's dividend yield of 0.7% and a 2.7% dividend growth as of the last twelve months ending Q3 2023. Additionally, the company is trading at a low earnings multiple with a P/E ratio of 7.11, which may appeal to value-oriented investors.

For those considering a deeper dive into RenaissanceRe's financials, InvestingPro offers a wealth of additional tips—over 12 listed in total—that can provide more nuanced insights into the company's performance and potential. These tips are part of the comprehensive analysis available to subscribers, who can currently benefit from a special Black Friday sale with discounts of up to 55% on the InvestingPro service.

The insights provided here are just a glimpse of what InvestingPro can offer to those looking to make informed investment decisions. With RenaissanceRe's next earnings date on January 30, 2024, staying updated with real-time data and expert analysis could be key to capitalizing on the company's future market movements.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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