Trexquant Investment LP Buys New Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Trexquant Investment LP purchased a new position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,255 shares of the insurance provider's stock, valued at approximately $561,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new position in shares of RenaissanceRe during the fourth quarter valued at approximately $29,000. MassMutual Private Wealth & Trust FSB lifted its stake in RenaissanceRe by 51.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider's stock valued at $30,000 after buying an additional 41 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of 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 acquiring an additional 127 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of 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 acquiring an additional 65 shares during the period. Finally, UMB Bank n.a. boosted its stake in RenaissanceRe by 40.0% during the 4th quarter. UMB Bank n.a. now owns 175 shares of the insurance provider's stock valued at $44,000 after purchasing an additional 50 shares during the period. Institutional investors own 99.97% of the company's stock.

RenaissanceRe Stock Up 1.4 %

Shares of RNR traded up $3.24 during mid-day trading on Friday, reaching $241.09. The company's stock had a trading volume of 429,115 shares, compared to its average volume of 417,754. RenaissanceRe Holdings Ltd. has a 1 year low of $208.98 and a 1 year 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 company has a market cap of $11.81 billion, a price-to-earnings ratio of 6.88, a price-to-earnings-growth ratio of 2.09 and a beta of 0.29. The business has a fifty day moving average of $237.11 and a 200 day moving average of $253.69.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 EPS for the quarter, topping 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%. As a group, analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.66%. The ex-dividend date was Friday, March 14th. This is a positive change from RenaissanceRe's previous quarterly dividend of $0.39. RenaissanceRe's dividend payout ratio is currently 4.57%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on RNR shares. Keefe, Bruyette & Woods decreased their price objective on RenaissanceRe from $318.00 to $294.00 and set an "outperform" rating for the company in a report on Tuesday, February 4th. JPMorgan Chase & Co. upgraded shares of RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 target price for the company in a research report on Tuesday, April 8th. JMP Securities reissued a "market perform" rating on shares of RenaissanceRe in a report on Thursday, January 30th. Barclays decreased their price target on RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating for the company in a research note on Friday, April 11th. Finally, Bank of America decreased their target price on RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a research note on Wednesday, March 26th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, RenaissanceRe presently has an average rating of "Hold" and a consensus price target of $280.80.

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.