Xponance Inc. Increases Stock Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Xponance Inc. boosted its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 1.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,676 shares of the insurance provider’s stock after acquiring an additional 86 shares during the quarter. Xponance Inc.’s holdings in RenaissanceRe were worth $1,504,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Daiwa Securities Group Inc. acquired a new stake in shares of RenaissanceRe during the fourth quarter worth about $39,000. Avior Wealth Management LLC acquired a new stake in shares of RenaissanceRe during the fourth quarter worth about $745,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of RenaissanceRe by 33.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,237 shares of the insurance provider’s stock worth $2,202,000 after purchasing an additional 2,846 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of RenaissanceRe during the fourth quarter worth about $2,881,000. Finally, Cerity Partners LLC lifted its position in shares of RenaissanceRe by 14.1% during the fourth quarter. Cerity Partners LLC now owns 3,190 shares of the insurance provider’s stock worth $625,000 after purchasing an additional 393 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Insider Transactions at RenaissanceRe

In related news, Director Carol P. Sanders sold 880 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $227.59, for a total value of $200,279.20. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Carol P. Sanders sold 880 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $227.59, for a total value of $200,279.20. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David E. Marra sold 750 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $229.00, for a total transaction of $171,750.00. Following the completion of the transaction, the executive vice president now directly owns 79,699 shares of the company’s stock, valued at approximately $18,251,071. The disclosure for this sale can be found here. Insiders sold 4,130 shares of company stock valued at $958,429 in the last 90 days. 1.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on RNR. BMO Capital Markets raised their target price on shares of RenaissanceRe from $216.00 to $295.00 and gave the company an “outperform” rating in a report on Monday, February 5th. JPMorgan Chase & Co. raised their target price on shares of RenaissanceRe from $204.00 to $237.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Evercore ISI raised their target price on shares of RenaissanceRe from $213.00 to $216.00 and gave the company an “underperform” rating in a report on Thursday, April 11th. UBS Group raised their target price on shares of RenaissanceRe from $229.00 to $238.00 and gave the company a “neutral” rating in a report on Monday, February 5th. Finally, TD Cowen began coverage on shares of RenaissanceRe in a report on Wednesday, January 10th. They issued a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $247.89.

RenaissanceRe Price Performance

RenaissanceRe stock opened at $220.17 on Wednesday. RenaissanceRe Holdings Ltd. has a one year low of $174.22 and a one year high of $239.42. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.40 and a current ratio of 1.40. The business has a fifty day moving average of $227.41 and a two-hundred day moving average of $216.04. The company has a market cap of $11.61 billion, a P/E ratio of 4.30, a price-to-earnings-growth ratio of 3.01 and a beta of 0.30.

RenaissanceRe (NYSE:RNR) last released its earnings results on Tuesday, January 30th. The insurance provider reported $11.77 EPS for the quarter, beating analysts’ consensus estimates of $8.13 by $3.64. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.83 billion. RenaissanceRe had a return on equity of 26.93% and a net margin of 28.04%. RenaissanceRe’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the company earned $7.33 earnings per share. As a group, analysts predict that RenaissanceRe Holdings Ltd. will post 34.41 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.38. RenaissanceRe’s payout ratio is 3.05%.

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.