Tower Research Capital LLC TRC Boosts Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Tower Research Capital LLC TRC raised its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 113.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,967 shares of the insurance provider's stock after buying an additional 2,110 shares during the quarter. Tower Research Capital LLC TRC's holdings in RenaissanceRe were worth $987,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Barclays PLC increased its stake in shares of RenaissanceRe by 57.1% in the third quarter. Barclays PLC now owns 22,923 shares of the insurance provider's stock worth $6,244,000 after buying an additional 8,333 shares during the last quarter. World Investment Advisors LLC acquired a new stake in RenaissanceRe during the third quarter valued at $16,176,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of RenaissanceRe in the third quarter worth $405,000. Tidal Investments LLC raised its position in shares of RenaissanceRe by 2.6% during the third quarter. Tidal Investments LLC now owns 9,236 shares of the insurance provider's stock valued at $2,516,000 after buying an additional 232 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in RenaissanceRe by 22.9% during the fourth quarter. GAMMA Investing LLC now owns 1,179 shares of the insurance provider's stock worth $293,000 after purchasing an additional 220 shares during the period. 99.97% of the stock is currently owned by institutional investors and hedge funds.

RenaissanceRe Stock Performance

NYSE RNR traded down $1.96 on Thursday, hitting $239.98. The stock had a trading volume of 104,872 shares, compared to its average volume of 426,341. The company's 50-day moving average is $238.37 and its two-hundred day moving average is $251.60. RenaissanceRe Holdings Ltd. has a one year low of $208.98 and a one year high of $300.00. The stock has a market cap of $11.76 billion, a price-to-earnings ratio of 6.86, a P/E/G ratio of 2.09 and a beta of 0.29. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share for the quarter, missing analysts' consensus estimates of ($0.32) by ($1.17). RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. The business had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.36 billion. During the same period in the previous year, the firm earned $12.18 EPS. The business's revenue was up 7.6% compared to the same quarter last year. On average, analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, March 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.67%. This is an increase from RenaissanceRe's previous quarterly dividend of $0.39. RenaissanceRe's dividend payout ratio (DPR) is currently 5.10%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Jefferies Financial Group cut their price target on shares of RenaissanceRe from $266.00 to $265.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. Bank of America reduced their target price on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a research report on Wednesday, March 26th. Wells Fargo & Company lowered their target price on RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. JPMorgan Chase & Co. upgraded shares of RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 target price on the stock in a report on Tuesday, April 8th. Finally, Barclays reduced their target price on RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating for the company in a report on Friday, April 11th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $282.60.

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.