Jane Street Group LLC Boosts Holdings in RenaissanceRe Holdings Ltd. $RNR

Key Points

• Jane Street Group LLC significantly increased its stake in RenaissanceRe Holdings Ltd. by 1,180.7% during the first quarter, owning approximately $17.81 million worth of shares.
• Several analysts have raised their price targets for RenaissanceRe, with a consensus target price now standing at $282.09 and most ratings being "Hold" or "Buy."
• RenaissanceRe announced a quarterly dividend of $0.40 per share, representing a yield of 0.6%, with the next payment scheduled for September 30th.

Jane Street Group LLC increased its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 1,180.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 74,217 shares of the insurance provider's stock after acquiring an additional 68,422 shares during the period. Jane Street Group LLC owned approximately 0.15% of RenaissanceRe worth $17,812,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of RNR. Ameriprise Financial Inc. increased its holdings in RenaissanceRe by 5.4% during the 4th quarter. Ameriprise Financial Inc. now owns 71,210 shares of the insurance provider's stock worth $17,718,000 after acquiring an additional 3,674 shares during the period. Cetera Investment Advisers increased its holdings in RenaissanceRe by 7.2% during the 4th quarter. Cetera Investment Advisers now owns 4,249 shares of the insurance provider's stock worth $1,057,000 after acquiring an additional 285 shares during the period. Deutsche Bank AG increased its holdings in shares of RenaissanceRe by 4.2% in the 4th quarter. Deutsche Bank AG now owns 10,715 shares of the insurance provider's stock worth $2,666,000 after buying an additional 431 shares during the last quarter. Focus Partners Wealth bought a new position in shares of RenaissanceRe in the 4th quarter worth $378,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of RenaissanceRe by 1,458.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,950 shares of the insurance provider's stock worth $1,729,000 after buying an additional 6,504 shares during the last quarter. Institutional investors own 99.97% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on RNR. Wells Fargo & Company reissued an "equal weight" rating and issued a $269.00 price target (up previously from $267.00) on shares of RenaissanceRe in a report on Thursday, July 10th. Morgan Stanley decreased their price target on shares of RenaissanceRe from $285.00 to $280.00 and set an "overweight" rating on the stock in a report on Monday, July 14th. Cantor Fitzgerald raised shares of RenaissanceRe to a "hold" rating in a report on Wednesday, August 13th. Citigroup started coverage on shares of RenaissanceRe in a report on Wednesday, August 13th. They issued a "buy" rating and a $288.00 price target on the stock. Finally, Wolfe Research started coverage on shares of RenaissanceRe in a research note on Monday. They issued a "peer perform" rating for the company. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, RenaissanceRe currently has a consensus rating of "Hold" and an average target price of $282.09.

RenaissanceRe Trading Down 1.5%

Shares of RenaissanceRe stock traded down $3.68 during trading on Monday, reaching $243.67. The company's stock had a trading volume of 401,451 shares, compared to its average volume of 346,746. RenaissanceRe Holdings Ltd. has a 52-week low of $219.00 and a 52-week high of $300.00. The company has a market cap of $11.47 billion, a price-to-earnings ratio of 6.23, a PEG ratio of 2.42 and a beta of 0.29. The firm's 50-day moving average is $241.68 and its two-hundred day moving average is $241.70. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.23.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The insurance provider reported $12.29 earnings per share for the quarter, beating the consensus estimate of $10.28 by $2.01. The business had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.96 billion. RenaissanceRe had a net margin of 15.44% and a return on equity of 15.00%. The firm's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $12.41 EPS. On average, sell-side analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.60 annualized dividend and a yield of 0.7%. RenaissanceRe's dividend payout ratio is presently 4.09%.

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.