Hsbc Holdings PLC Has $7.97 Million Position in RenaissanceRe Holdings Ltd. $RNR

Hsbc Holdings PLC lifted its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3,272.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 28,195 shares of the insurance provider’s stock after buying an additional 27,359 shares during the period. Hsbc Holdings PLC’s holdings in RenaissanceRe were worth $7,968,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Quarry LP increased its stake in RenaissanceRe by 65.0% in the third quarter. Quarry LP now owns 132 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 52 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in RenaissanceRe by 235.0% during the third quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 94 shares during the last quarter. Kingdom Financial Group LLC. acquired a new stake in shares of RenaissanceRe in the 4th quarter valued at $36,000. Mcguire Capital Advisors Inc. acquired a new stake in shares of RenaissanceRe in the 4th quarter valued at $38,000. Finally, SBI Securities Co. Ltd. increased its stake in shares of RenaissanceRe by 33.6% in the 4th quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 37 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on RNR. UBS Group boosted their price target on RenaissanceRe from $326.00 to $342.00 and gave the stock a “neutral” rating in a report on Wednesday. Wolfe Research set a $315.00 target price on RenaissanceRe in a research report on Tuesday. Wall Street Zen downgraded RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Cantor Fitzgerald raised RenaissanceRe from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $306.00 to $340.00 in a research note on Thursday, April 9th. Finally, Barclays increased their target price on shares of RenaissanceRe from $328.00 to $341.00 and gave the stock an “equal weight” rating in a report on Tuesday. Five investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $328.33.

RenaissanceRe Stock Down 0.2%

Shares of NYSE:RNR opened at $322.94 on Thursday. RenaissanceRe Holdings Ltd. has a 52-week low of $231.17 and a 52-week high of $329.57. The company has a market capitalization of $13.77 billion, a PE ratio of 5.38, a price-to-earnings-growth ratio of 1.21 and a beta of 0.17. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.37 and a current ratio of 1.37. The company has a fifty day moving average of $300.54 and a 200-day moving average of $295.34.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings data on Tuesday, March 31st. The insurance provider reported $13.75 earnings per share for the quarter. The company had revenue of $2.19 billion for the quarter. RenaissanceRe had a return on equity of 24.01% and a net margin of 24.25%. On average, equities analysts predict that RenaissanceRe Holdings Ltd. will post 40.19 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, June 15th. RenaissanceRe’s dividend payout ratio (DPR) is presently 2.73%.

About RenaissanceRe

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.