RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Acquired by XTX Topco Ltd

XTX Topco Ltd raised its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 944.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,710 shares of the insurance provider’s stock after acquiring an additional 8,780 shares during the quarter. XTX Topco Ltd’s holdings in RenaissanceRe were worth $2,416,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new position in RenaissanceRe during the fourth quarter worth approximately $27,000. SBI Securities Co. Ltd. acquired a new stake in RenaissanceRe during the 4th quarter worth $29,000. MassMutual Private Wealth & Trust FSB increased its stake in RenaissanceRe by 51.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 41 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of RenaissanceRe by 1,587.5% in the fourth quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider’s stock valued at $34,000 after buying an additional 127 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of RenaissanceRe by 71.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider’s stock worth $39,000 after buying an additional 65 shares during the period. 99.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Bank of America reduced their target price on shares of RenaissanceRe from $437.00 to $426.00 and set a “buy” rating for the company in a research note on Wednesday, March 26th. JMP Securities reaffirmed a “market perform” rating on shares of RenaissanceRe in a research note on Thursday, January 30th. Wells Fargo & Company decreased their price target on shares of RenaissanceRe from $277.00 to $271.00 and set an “overweight” rating on the stock in a research note on Thursday. Keefe, Bruyette & Woods lowered their price objective on RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a research report on Tuesday, February 4th. Finally, Morgan Stanley dropped their price target on shares of RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $280.80.

RenaissanceRe Stock Performance

Shares of RenaissanceRe stock opened at $237.92 on Monday. The stock has a market cap of $11.66 billion, a PE ratio of 6.79, a price-to-earnings-growth ratio of 2.09 and a beta of 0.29. RenaissanceRe Holdings Ltd. has a 12 month low of $208.98 and a 12 month high of $300.00. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. The business has a fifty day simple moving average of $236.93 and a 200-day simple moving average of $254.34.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share for the quarter, topping analysts’ consensus estimates of $6.94 by $1.12. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. On average, sell-side analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.67%. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s payout ratio is currently 4.57%.

Insider Transactions at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total value of $254,160.00. Following the transaction, the executive vice president now directly owns 79,392 shares of the company’s stock, valued at $20,178,270.72. The trade was a 1.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by corporate insiders.

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.