Xponance Inc. Purchases 402 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Xponance Inc. boosted its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 7.1% during the 4th quarter, HoldingsChannel reports. The fund owned 6,067 shares of the insurance provider’s stock after buying an additional 402 shares during the quarter. Xponance Inc.’s holdings in RenaissanceRe were worth $1,510,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Boston Partners increased its stake in RenaissanceRe by 28.5% during the fourth quarter. Boston Partners now owns 2,013,382 shares of the insurance provider’s stock valued at $500,991,000 after acquiring an additional 446,781 shares during the period. Impax Asset Management Group plc grew its stake in shares of RenaissanceRe by 10.8% in the 4th quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider’s stock valued at $466,969,000 after purchasing an additional 182,530 shares during the period. Geode Capital Management LLC grew its stake in shares of RenaissanceRe by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider’s stock valued at $250,892,000 after purchasing an additional 25,773 shares during the period. Davis Selected Advisers grew its stake in shares of RenaissanceRe by 0.8% in the 4th quarter. Davis Selected Advisers now owns 142,313 shares of the insurance provider’s stock valued at $35,409,000 after purchasing an additional 1,099 shares during the period. Finally, Nepsis Inc. grew its stake in shares of RenaissanceRe by 32.9% in the 4th quarter. Nepsis Inc. now owns 128,983 shares of the insurance provider’s stock valued at $32,092,000 after purchasing an additional 31,915 shares during the period. 99.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company lowered their price objective on RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Jefferies Financial Group reiterated a “hold” rating and issued a $282.00 price objective (down from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. Keefe, Bruyette & Woods lowered their price objective on RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 4th. Morgan Stanley reduced their target price on RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Finally, Barclays downgraded RenaissanceRe from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $284.00 to $234.00 in a report on Monday, January 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, RenaissanceRe presently has a consensus rating of “Hold” and an average price target of $279.90.

Insiders Place Their Bets

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total transaction of $254,160.00. Following the completion of the sale, the executive vice president now owns 79,392 shares in the company, valued at approximately $20,178,270.72. The trade was a 1.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.

RenaissanceRe Stock Up 0.4 %

NYSE:RNR opened at $236.75 on Friday. The stock’s fifty day moving average price is $241.01 and its two-hundred day moving average price is $257.08. RenaissanceRe Holdings Ltd. has a 52-week low of $208.98 and a 52-week high of $300.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42. The company has a market cap of $11.66 billion, a price-to-earnings ratio of 6.76, a P/E/G ratio of 2.09 and a beta of 0.38.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.94 by $1.12. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. On average, analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.40 per share. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.60 annualized dividend and a yield of 0.68%. RenaissanceRe’s dividend payout ratio is currently 4.57%.

About RenaissanceRe

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.