XTX Topco Ltd Increases Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

XTX Topco Ltd lifted its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 26.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,252 shares of the insurance provider's stock after purchasing an additional 2,542 shares during the period. XTX Topco Ltd's holdings in RenaissanceRe were worth $2,940,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Federated Hermes Inc. increased its position in shares of RenaissanceRe by 34.3% during the first quarter. Federated Hermes Inc. now owns 6,033 shares of the insurance provider's stock worth $1,448,000 after purchasing an additional 1,541 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of RenaissanceRe by 366.1% during the first quarter. Mackenzie Financial Corp now owns 79,053 shares of the insurance provider's stock worth $18,973,000 after purchasing an additional 62,091 shares in the last quarter. LPL Financial LLC increased its position in shares of RenaissanceRe by 12.8% during the first quarter. LPL Financial LLC now owns 8,035 shares of the insurance provider's stock worth $1,928,000 after purchasing an additional 910 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of RenaissanceRe by 0.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,518 shares of the insurance provider's stock worth $3,244,000 after purchasing an additional 100 shares in the last quarter. Finally, Zweig DiMenna Associates LLC acquired a new stake in shares of RenaissanceRe during the first quarter worth about $11,136,000. Institutional investors and hedge funds own 99.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. JMP Securities reiterated a "market perform" rating on shares of RenaissanceRe in a research report on Thursday, April 24th. JPMorgan Chase & Co. upgraded RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price target on the stock in a research report on Tuesday, April 8th. Barclays boosted their price target on RenaissanceRe from $256.00 to $273.00 and gave the company an "equal weight" rating in a research report on Thursday, July 24th. Morgan Stanley dropped their price target on RenaissanceRe from $285.00 to $280.00 and set an "overweight" rating on the stock in a research report on Monday, July 14th. Finally, Wells Fargo & Company restated an "equal weight" rating and issued a $269.00 price target (up previously from $267.00) on shares of RenaissanceRe in a research report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, RenaissanceRe has an average rating of "Hold" and a consensus price target of $287.50.

RenaissanceRe Stock Performance

RNR traded up $0.04 during trading on Wednesday, reaching $244.38. The company's stock had a trading volume of 497,592 shares, compared to its average volume of 503,245. RenaissanceRe Holdings Ltd. has a 52-week low of $219.00 and a 52-week high of $300.00. The company's fifty day moving average price is $242.25 and its 200-day moving average price is $241.34. The company has a market capitalization of $11.50 billion, a price-to-earnings ratio of 6.24, a price-to-earnings-growth ratio of 2.57 and a beta of 0.30. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.36 and a current ratio of 1.36.

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, beating analysts' consensus estimates of $10.28 by $2.01. RenaissanceRe had a return on equity of 15.00% and a net margin of 15.44%. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same quarter in the previous year, the company earned $12.41 EPS. The firm's revenue for the quarter was down 2.4% compared to the same quarter last year. On average, equities analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend was Friday, June 13th. RenaissanceRe's dividend payout ratio (DPR) is 4.09%.

Insider Activity at RenaissanceRe

In other news, CAO James Christopher Fraser sold 332 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $249.54, for a total transaction of $82,847.28. Following the sale, the chief accounting officer owned 27,154 shares of the company's stock, valued at $6,776,009.16. The trade was a 1.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is owned by company insiders.

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.