KBC Group NV Has $3.51 Million Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

KBC Group NV boosted its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 934.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,095 shares of the insurance provider's stock after acquiring an additional 12,733 shares during the quarter. KBC Group NV's holdings in RenaissanceRe were worth $3,507,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. ORG Wealth Partners LLC acquired a new stake in shares of RenaissanceRe during the 3rd quarter worth about $30,000. MassMutual Private Wealth & Trust FSB increased 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 buying an additional 41 shares in the last quarter. UMB Bank n.a. raised its stake in shares of RenaissanceRe by 316.7% in the third quarter. UMB Bank n.a. now owns 125 shares of the insurance provider's stock valued at $34,000 after acquiring an additional 95 shares during the last quarter. Advisors Asset Management Inc. bought a new stake in RenaissanceRe during the 3rd quarter worth approximately $45,000. Finally, V Square Quantitative Management LLC increased its holdings in RenaissanceRe by 29.5% during the 3rd quarter. V Square Quantitative Management LLC now owns 180 shares of the insurance provider's stock valued at $49,000 after purchasing an additional 41 shares in the last quarter. 99.97% of the stock is owned by institutional investors.

RenaissanceRe Trading Down 2.5 %

NYSE RNR opened at $232.52 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.18. RenaissanceRe Holdings Ltd. has a 12 month low of $208.98 and a 12 month high of $300.00. The company has a market capitalization of $12.08 billion, a PE ratio of 6.64, a P/E/G ratio of 1.75 and a beta of 0.44. The stock has a 50-day simple moving average of $259.85 and a 200 day simple moving average of $257.20.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 EPS for the quarter, beating analysts' consensus estimates of $6.94 by $1.12. RenaissanceRe had a return on equity of 23.51% and a net margin of 15.99%. Research analysts forecast that RenaissanceRe Holdings Ltd. will post 34.22 EPS for the current year.

RenaissanceRe Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a dividend of $0.39 per share. The ex-dividend date was Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.67%. RenaissanceRe's dividend payout ratio is 4.45%.

Insider Activity

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

Wall Street Analyst Weigh In

RNR has been the topic of several research analyst reports. Barclays cut RenaissanceRe from an "equal weight" rating to an "underweight" rating and decreased their target price for the stock from $284.00 to $234.00 in a report on Monday, January 6th. StockNews.com lowered shares of RenaissanceRe from a "buy" rating to a "hold" rating in a report on Tuesday, October 22nd. JMP Securities reaffirmed a "market perform" rating on shares of RenaissanceRe in a research note on Thursday. Wells Fargo & Company decreased their price target on shares of RenaissanceRe from $288.00 to $277.00 and set an "overweight" rating on the stock in a research note on Thursday. Finally, Evercore ISI upped their price objective on RenaissanceRe from $229.00 to $246.00 and gave the stock an "underperform" rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, RenaissanceRe presently has an average rating of "Hold" and an average target price of $283.45.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.