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

Xponance Inc. grew its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 1.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,676 shares of the insurance provider’s stock after buying an additional 86 shares during the period. Xponance Inc.’s holdings in RenaissanceRe were worth $1,504,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in RenaissanceRe by 2.3% in the third quarter. Vanguard Group Inc. now owns 5,417,518 shares of the insurance provider’s stock worth $1,072,235,000 after buying an additional 120,302 shares during the last quarter. Boston Partners raised its holdings in RenaissanceRe by 7.1% in the third quarter. Boston Partners now owns 2,052,716 shares of the insurance provider’s stock worth $406,390,000 after buying an additional 135,861 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in RenaissanceRe by 20.7% in the third quarter. Bank of New York Mellon Corp now owns 1,451,530 shares of the insurance provider’s stock worth $287,287,000 after buying an additional 249,196 shares during the last quarter. Polar Capital Holdings Plc raised its holdings in RenaissanceRe by 7.5% in the third quarter. Polar Capital Holdings Plc now owns 1,104,756 shares of the insurance provider’s stock worth $218,653,000 after buying an additional 77,319 shares during the last quarter. Finally, Earnest Partners LLC raised its holdings in RenaissanceRe by 2.9% in the third quarter. Earnest Partners LLC now owns 548,496 shares of the insurance provider’s stock worth $108,558,000 after buying an additional 15,692 shares during the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other RenaissanceRe news, Director Carol P. Sanders sold 880 shares of the company’s stock in a transaction that occurred on 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 directly owns 5,363 shares in the company, valued at $1,220,565.17. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other RenaissanceRe news, Director Carol P. Sanders sold 880 shares of the company’s stock in a transaction that occurred on 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 directly owns 5,363 shares in the company, valued at $1,220,565.17. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Robert Qutub sold 2,500 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $234.56, for a total transaction of $586,400.00. Following the transaction, the chief financial officer now owns 70,424 shares of the company’s stock, valued at approximately $16,518,653.44. The disclosure for this sale can be found here. Insiders sold a total of 4,130 shares of company stock worth $958,429 over the last three months. 1.80% of the stock is currently owned by company insiders.

RenaissanceRe Stock Down 2.9 %

Shares of RNR stock opened at $220.17 on Wednesday. RenaissanceRe Holdings Ltd. has a 12 month low of $174.22 and a 12 month high of $239.42. The stock has a market cap of $11.61 billion, a P/E ratio of 4.30, a P/E/G ratio of 3.01 and a beta of 0.30. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.23. The company has a 50 day simple moving average of $227.41 and a two-hundred day simple moving average of $216.04.

RenaissanceRe (NYSE:RNR) last announced 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 business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.83 billion. RenaissanceRe had a net margin of 28.04% and a return on equity of 26.93%. The firm’s revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the company earned $7.33 earnings per share. On average, research analysts expect that RenaissanceRe Holdings Ltd. will post 34.41 earnings per share for the current year.

RenaissanceRe Increases Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. BMO Capital Markets boosted their price objective on shares of RenaissanceRe from $216.00 to $295.00 and gave the company an “outperform” rating in a report on Monday, February 5th. UBS Group boosted their price objective on shares of RenaissanceRe from $229.00 to $238.00 and gave the company a “neutral” rating in a report on Monday, February 5th. JPMorgan Chase & Co. boosted their price objective 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 boosted their price objective on shares of RenaissanceRe from $213.00 to $216.00 and gave the company an “underperform” rating in a report on Thursday, April 11th. Finally, TD Cowen assumed coverage on shares of RenaissanceRe in a report on Wednesday, January 10th. They set a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $247.89.

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.