RenaissanceRe Holdings Ltd. $RNR Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC increased its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3,272.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 28,195 shares of the insurance provider’s stock after purchasing an additional 27,359 shares during the period. Hsbc Holdings PLC’s holdings in RenaissanceRe were worth $7,968,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Kingdom Financial Group LLC. purchased a new stake in RenaissanceRe in the fourth quarter valued at about $36,000. Quarry LP increased its holdings in shares of RenaissanceRe by 65.0% during the third quarter. Quarry LP now owns 132 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 52 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of RenaissanceRe by 235.0% during the third quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 94 shares in the last quarter. Mcguire Capital Advisors Inc. purchased a new position in shares of RenaissanceRe in the 4th quarter valued at approximately $38,000. Finally, SBI Securities Co. Ltd. raised its position in shares of RenaissanceRe by 33.6% in the 4th quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 37 shares during the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

RenaissanceRe Price Performance

Shares of NYSE RNR opened at $319.30 on Friday. RenaissanceRe Holdings Ltd. has a 52 week low of $231.17 and a 52 week high of $319.80. The business’s 50 day moving average price is $298.90 and its 200 day moving average price is $292.23. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.22. The firm has a market cap of $13.61 billion, a P/E ratio of 5.32, a P/E/G ratio of 1.16 and a beta of 0.18.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $13.75 earnings per share (EPS) for the quarter. RenaissanceRe had a net margin of 24.25% and a return on equity of 24.01%. The company had revenue of $2.19 billion during the quarter. On average, sell-side analysts expect that RenaissanceRe Holdings Ltd. will post 40.05 earnings per share for the current year.

RenaissanceRe Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.41 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 0.5%. RenaissanceRe’s dividend payout ratio is presently 2.73%.

Analyst Ratings Changes

RNR has been the topic of several research analyst reports. Mizuho set a $325.00 target price on shares of RenaissanceRe in a research report on Monday, May 4th. Wall Street Zen cut shares of RenaissanceRe from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Citigroup upgraded shares of RenaissanceRe from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $335.00 to $345.00 in a research note on Wednesday, June 10th. Wells Fargo & Company boosted their price objective on shares of RenaissanceRe from $305.00 to $306.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Finally, UBS Group raised their target price on RenaissanceRe from $319.00 to $326.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Five analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, RenaissanceRe currently has an average rating of “Hold” and a consensus target price of $323.64.

About RenaissanceRe

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.