Virtu Financial LLC Has $3.01 Million Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Key Points

• Virtu Financial LLC increased its holdings in RenaissanceRe Holdings Ltd. by 165.9% during the first quarter, acquiring an additional 7,824 shares, bringing their total to 12,539 shares valued at approximately $3 million.
• RenaissanceRe recently announced a quarterly dividend of $0.40 per share to be paid on September 30th, indicating a 0.7% yield on an annualized basis.
• The company's stock has been subject to various analyst ratings, with a consensus rating of "Hold" and a price target of $287.50, showing mixed outlooks from different financial institutions.

Virtu Financial LLC grew its position in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 165.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,539 shares of the insurance provider's stock after acquiring an additional 7,824 shares during the quarter. Virtu Financial LLC's holdings in RenaissanceRe were worth $3,009,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Tsfg LLC acquired a new stake in RenaissanceRe during the first quarter valued at approximately $40,000. LRI Investments LLC boosted its holdings in RenaissanceRe by 116.5% during the first quarter. LRI Investments LLC now owns 262 shares of the insurance provider's stock valued at $63,000 after purchasing an additional 141 shares in the last quarter. UMB Bank n.a. grew its stake in RenaissanceRe by 165.1% during the first quarter. UMB Bank n.a. now owns 464 shares of the insurance provider's stock worth $111,000 after buying an additional 289 shares during the last quarter. State of Wyoming bought a new stake in RenaissanceRe during the fourth quarter worth about $175,000. Finally, Rossby Financial LCC bought a new stake in RenaissanceRe during the first quarter worth about $187,000. Institutional investors own 99.97% of the company's stock.

RenaissanceRe Trading Up 1.8%

NYSE:RNR traded up $4.21 on Wednesday, hitting $243.78. 225,688 shares of the stock were exchanged, compared to its average volume of 488,031. The stock has a market capitalization of $11.47 billion, a price-to-earnings ratio of 6.23, a P/E/G ratio of 2.41 and a beta of 0.29. RenaissanceRe Holdings Ltd. has a 52 week low of $219.00 and a 52 week high of $300.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.36 and a current ratio of 1.36. The company's 50-day moving average price is $241.57 and its 200 day moving average price is $240.32.

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

RenaissanceRe Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a $0.40 dividend. 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%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on RNR shares. Barclays upped their price objective on shares of RenaissanceRe from $256.00 to $273.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 24th. Keefe, Bruyette & Woods upped their price objective on shares of RenaissanceRe from $268.00 to $269.00 and gave the stock a "market perform" rating in a research note on Monday, July 28th. UBS Group upped their price objective on shares of RenaissanceRe from $250.00 to $265.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $269.00 price objective (up from $267.00) on shares of RenaissanceRe in a research note on Thursday, July 10th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of RenaissanceRe in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $282.09.

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.