XTX Topco Ltd Has $2.42 Million Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

XTX Topco Ltd boosted its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 944.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 hedge funds and other institutional investors also recently made changes to their positions in RNR. Impax Asset Management Group plc increased its position in RenaissanceRe by 10.8% during the 4th quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider’s stock valued at $466,969,000 after purchasing an additional 182,530 shares during the period. Geode Capital Management LLC raised its holdings in RenaissanceRe by 2.9% during the third quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider’s stock worth $250,892,000 after buying an additional 25,773 shares during the last quarter. World Investment Advisors LLC bought a new position in shares of RenaissanceRe in the third quarter valued at $16,176,000. Barclays PLC grew its holdings in shares of RenaissanceRe by 57.1% during the third quarter. Barclays PLC now owns 22,923 shares of the insurance provider’s stock valued at $6,244,000 after buying an additional 8,333 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of RenaissanceRe in the 4th quarter worth about $7,986,000. 99.97% of the stock is owned by institutional investors.

RenaissanceRe Stock Up 2.5 %

Shares of NYSE RNR opened at $237.92 on Monday. RenaissanceRe Holdings Ltd. has a one year low of $208.98 and a one year high of $300.00. The business’s fifty day moving average price is $236.93 and its 200-day moving average price is $254.34. The stock has a market capitalization of $11.66 billion, a PE ratio of 6.79, a P/E/G ratio of 2.09 and a beta of 0.29. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 EPS for the quarter, beating 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, equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

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

Insider Activity at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were 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 in the company, valued at approximately $20,178,270.72. This represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on RNR shares. JPMorgan Chase & Co. upgraded RenaissanceRe from a “neutral” rating to an “overweight” rating and set a $284.00 target price on the stock in a report on Tuesday, April 8th. Wells Fargo & Company lowered their target price on shares of RenaissanceRe from $277.00 to $271.00 and set an “overweight” rating for the company in a report on Thursday. Keefe, Bruyette & Woods reduced their price objective on shares of RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a research report on Tuesday, February 4th. Bank of America dropped their target price on shares of RenaissanceRe from $437.00 to $426.00 and set a “buy” rating on the stock in a research report on Wednesday, March 26th. Finally, Jefferies Financial Group cut their target price on RenaissanceRe from $266.00 to $265.00 and set a “hold” rating on the stock in a research note on Friday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $280.80.

RenaissanceRe 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.