AXQ Capital LP Makes New $477,000 Investment in RenaissanceRe Holdings Ltd. (NYSE:RNR)

AXQ Capital LP acquired a new position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,916 shares of the insurance provider’s stock, valued at approximately $477,000.

Several other large investors have also recently made changes to their positions in the company. Boston Partners grew its position in RenaissanceRe by 28.5% during the fourth quarter. Boston Partners now owns 2,013,382 shares of the insurance provider’s stock valued at $500,991,000 after buying an additional 446,781 shares during the period. Impax Asset Management Group plc grew its position in shares of RenaissanceRe by 10.8% during the 4th quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider’s stock valued at $466,969,000 after acquiring an additional 182,530 shares during the period. Geode Capital Management LLC raised its holdings in RenaissanceRe by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider’s stock worth $250,892,000 after purchasing an additional 25,773 shares during the period. Sei Investments Co. raised its holdings in RenaissanceRe by 19.5% in the 4th quarter. Sei Investments Co. now owns 183,835 shares of the insurance provider’s stock worth $45,744,000 after purchasing an additional 29,974 shares during the period. Finally, Davis Selected Advisers lifted its holdings in RenaissanceRe by 0.8% during the fourth quarter. Davis Selected Advisers now owns 142,313 shares of the insurance provider’s stock valued at $35,409,000 after purchasing an additional 1,099 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP David E. Marra sold 1,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total transaction of $254,160.00. Following the completion of the transaction, the executive vice president now directly owns 79,392 shares in the company, valued at approximately $20,178,270.72. This represents a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by insiders.

RenaissanceRe Trading Up 0.4 %

Shares of RNR stock opened at $236.75 on Friday. RenaissanceRe Holdings Ltd. has a twelve month low of $208.98 and a twelve month high of $300.00. The stock has a market cap of $11.66 billion, a price-to-earnings ratio of 6.76, a PEG ratio of 2.09 and a beta of 0.38. The company’s 50-day moving average price is $241.01 and its 200-day moving average price is $257.08. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19.

RenaissanceRe (NYSE:RNR) last posted its earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share for the quarter, beating the consensus estimate of $6.94 by $1.12. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. As a group, equities analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.68%. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. RenaissanceRe’s dividend payout ratio is presently 4.57%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Morgan Stanley decreased their price target on shares of RenaissanceRe from $265.00 to $245.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Jefferies Financial Group reaffirmed a “hold” rating and issued a $282.00 price target (down from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. Keefe, Bruyette & Woods reduced their price objective on RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a research note on Tuesday, February 4th. JMP Securities reaffirmed a “market perform” rating on shares of RenaissanceRe in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. upped their target price on shares of RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a report on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, RenaissanceRe has an average rating of “Hold” and a consensus target price of $279.90.

About RenaissanceRe

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.