XTX Topco Ltd Sells 4,512 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

XTX Topco Ltd cut its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 82.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 930 shares of the insurance provider’s stock after selling 4,512 shares during the quarter. XTX Topco Ltd’s holdings in RenaissanceRe were worth $253,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of RNR. Blue Trust Inc. bought a new position in RenaissanceRe in the 2nd quarter valued at about $27,000. ORG Wealth Partners LLC acquired a new position in shares of RenaissanceRe in the third quarter valued at approximately $30,000. UMB Bank n.a. increased its stake in shares of RenaissanceRe by 316.7% during the third quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 95 shares during the period. Advisors Asset Management Inc. acquired a new stake in RenaissanceRe during the 3rd quarter worth approximately $45,000. Finally, Industrial Alliance Investment Management Inc. bought a new stake in RenaissanceRe in the 2nd quarter valued at $49,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

Insider Buying and Selling at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $269.00, for a total transaction of $269,000.00. Following the sale, the executive vice president now owns 83,044 shares of the company’s stock, valued at $22,338,836. This trade represents a 1.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RNR shares. StockNews.com cut RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company lifted their price objective on shares of RenaissanceRe from $280.00 to $314.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Evercore ISI increased their target price on shares of RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a research report on Thursday, November 7th. Jefferies Financial Group reiterated a “hold” rating and issued a $282.00 price target (down from $304.00) on shares of RenaissanceRe in a research report on Wednesday. Finally, Bank of America boosted their price target on RenaissanceRe from $364.00 to $391.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $290.09.

RenaissanceRe Trading Down 5.2 %

Shares of RNR opened at $241.97 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.43 and a current ratio of 1.43. RenaissanceRe Holdings Ltd. has a 52-week low of $190.89 and a 52-week high of $300.00. The firm has a market cap of $12.57 billion, a price-to-earnings ratio of 3.49, a PEG ratio of 1.31 and a beta of 0.41. The business’s fifty day moving average is $271.69 and its 200-day moving average is $250.90.

RenaissanceRe (NYSE:RNR) last released its earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.89 by $2.34. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.35 billion. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. The business’s revenue for the quarter was up 52.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $8.33 earnings per share. Equities analysts anticipate that RenaissanceRe Holdings Ltd. will post 41.94 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Friday, December 13th. RenaissanceRe’s payout ratio is 2.25%.

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.