Barclays PLC Boosts Stock Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Barclays PLC boosted its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 339.6% during the fourth quarter, Holdings Channel reports. The firm owned 100,767 shares of the insurance provider’s stock after acquiring an additional 77,844 shares during the quarter. Barclays PLC’s holdings in RenaissanceRe were worth $25,072,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RNR. Jefferies Financial Group decreased their price target on shares of RenaissanceRe from $266.00 to $265.00 and set a “hold” rating for the company in a research note on Friday, April 11th. JPMorgan Chase & Co. raised RenaissanceRe from a “neutral” rating to an “overweight” rating and set a $284.00 price objective for the company in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods dropped their target price on RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating on the stock in a report on Tuesday, February 4th. Morgan Stanley cut their price objective on shares of RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Finally, Barclays decreased their target price on shares of RenaissanceRe from $234.00 to $231.00 and set an “underweight” rating for the company in a report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, RenaissanceRe presently has a consensus rating of “Hold” and a consensus target price of $280.80.

RenaissanceRe Stock Performance

RNR opened at $241.09 on Friday. RenaissanceRe Holdings Ltd. has a 12-month low of $208.98 and a 12-month high of $300.00. The company has a market cap of $11.81 billion, a price-to-earnings ratio of 6.88, a PEG ratio of 2.09 and a beta of 0.29. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19. The company’s 50 day moving average is $237.23 and its 200 day moving average is $253.46.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (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 predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.66%. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, March 14th. RenaissanceRe’s dividend payout ratio is currently 4.57%.

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.