KBC Group NV Purchases 12,733 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

KBC Group NV grew its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 934.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 14,095 shares of the insurance provider’s stock after buying 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.

Several other institutional investors and hedge funds also recently modified their holdings of RNR. Blue Trust Inc. lifted its stake in RenaissanceRe by 98.4% in the 4th quarter. Blue Trust Inc. now owns 637 shares of the insurance provider’s stock valued at $174,000 after acquiring an additional 316 shares in the last quarter. First Citizens Bank & Trust Co. lifted its position in shares of RenaissanceRe by 20.0% in the fourth quarter. First Citizens Bank & Trust Co. now owns 1,288 shares of the insurance provider’s stock worth $320,000 after purchasing an additional 215 shares in the last quarter. Flagship Harbor Advisors LLC boosted its holdings in RenaissanceRe by 15.6% during the fourth quarter. Flagship Harbor Advisors LLC now owns 1,335 shares of the insurance provider’s stock worth $332,000 after purchasing an additional 180 shares during the last quarter. Nepsis Inc. grew its position in RenaissanceRe by 32.9% in the fourth quarter. Nepsis Inc. now owns 128,983 shares of the insurance provider’s stock valued at $32,092,000 after purchasing an additional 31,915 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in RenaissanceRe by 2.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 2,893 shares of the insurance provider’s stock valued at $720,000 after buying an additional 70 shares during the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on RNR shares. Barclays downgraded shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $284.00 to $234.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. boosted their price target on RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a research report on Friday, January 3rd. Wells Fargo & Company cut their price objective on RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating for the company in a report on Thursday. Bank of America boosted their target price on shares of RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, StockNews.com cut shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, RenaissanceRe presently has a consensus rating of “Hold” and an average target price of $283.45.

RenaissanceRe Trading Down 2.5 %

Shares of RNR stock opened at $232.52 on Friday. RenaissanceRe Holdings Ltd. has a 12-month low of $208.98 and a 12-month high of $300.00. The firm has a 50 day moving average price of $259.85 and a two-hundred day moving average price of $257.20. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $12.08 billion, a PE ratio of 6.64, a price-to-earnings-growth ratio of 1.75 and a beta of 0.44.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.94 by $1.12. RenaissanceRe had a return on equity of 23.51% and a net margin of 15.99%. As a group, analysts predict that RenaissanceRe Holdings Ltd. will post 34.22 earnings per share for the current year.

RenaissanceRe Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Friday, December 13th. RenaissanceRe’s dividend payout ratio (DPR) is 4.45%.

Insider Buying and Selling at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction that occurred on Wednesday, January 15th. The shares were 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 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 filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.30% of the company’s stock.

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.