Townsquare Capital LLC Takes $352,000 Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Townsquare Capital LLC bought a new position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,413 shares of the insurance provider's stock, valued at approximately $352,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd purchased a new stake in RenaissanceRe in the 4th quarter valued at about $27,000. SBI Securities Co. Ltd. purchased a new position in shares of RenaissanceRe during the 4th quarter worth approximately $29,000. MassMutual Private Wealth & Trust FSB increased its holdings in RenaissanceRe by 51.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider's stock valued at $30,000 after purchasing an additional 41 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in RenaissanceRe by 1,587.5% during the fourth quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock worth $34,000 after purchasing an additional 127 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of RenaissanceRe by 71.4% during the fourth 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. Hedge funds and other institutional investors own 99.97% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on RNR shares. Keefe, Bruyette & Woods cut their price target on shares of RenaissanceRe from $318.00 to $294.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 4th. Wells Fargo & Company decreased 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. Bank of America reduced their target price on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating on the stock in a report on Wednesday, March 26th. Morgan Stanley dropped 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 dropped their price objective on RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating on the stock in a report on Friday, April 11th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, RenaissanceRe presently has an average rating of "Hold" and a consensus price target of $280.80.

RenaissanceRe Price Performance

Shares of NYSE:RNR opened at $234.45 on Tuesday. RenaissanceRe Holdings Ltd. has a one year low of $208.98 and a one year high of $300.00. The stock has a market capitalization of $11.49 billion, a price-to-earnings ratio of 6.69, a PEG ratio of 2.09 and a beta of 0.29. The company has a 50-day simple moving average of $237.30 and a 200-day simple moving average of $252.85. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42.

RenaissanceRe (NYSE:RNR - Get Free Report) last released its earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from RenaissanceRe's previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a yield of 0.68%. RenaissanceRe's dividend payout ratio (DPR) is 4.57%.

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.

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