RenaissanceRe Holdings Ltd. (NYSE:RNR) Stake Increased by Hilltop National Bank

Hilltop National Bank lifted its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 14.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 400 shares of the insurance provider’s stock after buying an additional 52 shares during the period. Hilltop National Bank’s holdings in RenaissanceRe were worth $89,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Park Avenue Securities LLC increased its holdings in shares of RenaissanceRe by 3.2% in the 2nd quarter. Park Avenue Securities LLC now owns 3,626 shares of the insurance provider’s stock valued at $810,000 after purchasing an additional 112 shares during the period. Fulton Bank N.A. increased its stake in RenaissanceRe by 4.6% in the 2nd quarter. Fulton Bank N.A. now owns 3,353 shares of the insurance provider’s stock valued at $749,000 after buying an additional 146 shares during the period. Polianta Ltd purchased a new stake in RenaissanceRe in the 2nd quarter worth approximately $1,206,000. GAMMA Investing LLC boosted its stake in shares of RenaissanceRe by 96.9% during the 2nd quarter. GAMMA Investing LLC now owns 569 shares of the insurance provider’s stock valued at $127,000 after buying an additional 280 shares during the period. Finally, Westwood Holdings Group Inc. grew its holdings in shares of RenaissanceRe by 4.2% during the 1st quarter. Westwood Holdings Group Inc. now owns 54,866 shares of the insurance provider’s stock valued at $12,895,000 after acquiring an additional 2,187 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Wall Street Analyst Weigh In

RNR has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price objective on RenaissanceRe from $265.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. UBS Group lowered their price target on RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Evercore ISI raised their price objective on shares of RenaissanceRe from $216.00 to $218.00 and gave the company an “underperform” rating in a research report on Wednesday, May 1st. Bank of America boosted their target price on shares of RenaissanceRe from $334.00 to $347.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Finally, StockNews.com upgraded shares of RenaissanceRe from a “hold” rating to a “buy” rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $263.40.

RenaissanceRe Stock Performance

NYSE:RNR traded up $2.14 during mid-day trading on Wednesday, hitting $229.50. 242,939 shares of the company’s stock traded hands, compared to its average volume of 344,286. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21. The firm has a 50 day moving average of $224.25 and a two-hundred day moving average of $224.97. The firm has a market capitalization of $12.14 billion, a price-to-earnings ratio of 5.07, a price-to-earnings-growth ratio of 1.29 and a beta of 0.38. RenaissanceRe Holdings Ltd. has a 12 month low of $174.22 and a 12 month high of $239.42.

RenaissanceRe Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Friday, September 13th. RenaissanceRe’s dividend payout ratio (DPR) is currently 3.45%.

Insider Activity at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $230.00, for a total transaction of $230,000.00. Following the completion of the transaction, the executive vice president now owns 85,544 shares of the company’s stock, valued at $19,675,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Robert Qutub sold 2,500 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $224.56, for a total transaction of $561,400.00. Following the completion of the transaction, the chief financial officer now directly owns 73,915 shares of the company’s stock, valued at approximately $16,598,352.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $230.00, for a total transaction of $230,000.00. Following the sale, the executive vice president now owns 85,544 shares in the company, valued at $19,675,120. The disclosure for this sale can be found here. Corporate 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.