Virtu Financial LLC Makes New Investment in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Virtu Financial LLC acquired a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,715 shares of the insurance provider's stock, valued at approximately $1,173,000.

Several other hedge funds have also recently made changes to their positions in RNR. SBI Securities Co. Ltd. purchased a new stake in RenaissanceRe during the 4th quarter valued at about $29,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of RenaissanceRe by 51.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider's stock worth $30,000 after purchasing an additional 41 shares during the period. Jones Financial Companies Lllp boosted its position in RenaissanceRe by 1,587.5% in the fourth quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock valued at $34,000 after buying an additional 127 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in RenaissanceRe by 71.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock worth $39,000 after buying an additional 65 shares during the period. Finally, Advisors Asset Management Inc. purchased a new position in RenaissanceRe during the 3rd quarter worth approximately $45,000. 99.97% of the stock is owned by institutional investors and hedge funds.

RenaissanceRe Price Performance

Shares of NYSE RNR traded up $2.51 during trading on Thursday, hitting $246.78. The company had a trading volume of 322,855 shares, compared to its average volume of 393,075. RenaissanceRe Holdings Ltd. has a fifty-two week low of $208.98 and a fifty-two week high of $300.00. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. The stock has a fifty day simple moving average of $240.27 and a two-hundred day simple moving average of $256.70. The firm has a market capitalization of $12.15 billion, a price-to-earnings ratio of 7.05, a price-to-earnings-growth ratio of 2.09 and a beta of 0.38.

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RenaissanceRe (NYSE:RNR - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 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, research analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from RenaissanceRe's previous quarterly dividend of $0.39. RenaissanceRe's dividend payout ratio is currently 4.57%.

Analysts Set New Price Targets

RNR has been the topic of several recent research reports. Jefferies Financial Group reaffirmed a "hold" rating and issued a $282.00 price objective (down from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. JMP Securities reaffirmed a "market perform" rating on shares of RenaissanceRe in a research report on Thursday, January 30th. Morgan Stanley reduced their price objective on RenaissanceRe from $265.00 to $245.00 and set an "equal weight" rating for the company in a research note on Friday, January 31st. Barclays downgraded RenaissanceRe from an "equal weight" rating to an "underweight" rating and lowered their target price for the stock from $284.00 to $234.00 in a research note on Monday, January 6th. Finally, Bank of America reduced their price target on RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, RenaissanceRe currently has an average rating of "Hold" and an average target price of $283.40.

Insider Buying and Selling at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total value of $254,160.00. Following the completion of the sale, the executive vice president now owns 79,392 shares of the company's stock, valued at approximately $20,178,270.72. This trade represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is owned by insiders.

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.