Hsbc Holdings PLC Raises Stock Position in RenaissanceRe Holdings Ltd. $RNR

Hsbc Holdings PLC lifted its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3,272.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,195 shares of the insurance provider’s stock after purchasing an additional 27,359 shares during the period. Hsbc Holdings PLC owned 0.06% of RenaissanceRe worth $7,968,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quarry LP raised its position in RenaissanceRe by 65.0% during the 3rd quarter. Quarry LP now owns 132 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 52 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of RenaissanceRe by 235.0% during the third quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider’s stock valued at $34,000 after buying an additional 94 shares during the period. Kingdom Financial Group LLC. purchased a new position in shares of RenaissanceRe during the fourth quarter valued at $36,000. Mcguire Capital Advisors Inc. bought a new stake in shares of RenaissanceRe in the fourth quarter valued at about $38,000. Finally, SBI Securities Co. Ltd. raised its holdings in shares of RenaissanceRe by 33.6% in the fourth quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock valued at $41,000 after acquiring an additional 37 shares in the last quarter. Institutional investors own 99.97% of the company’s stock.

RenaissanceRe Price Performance

RNR opened at $319.30 on Friday. The business’s 50-day moving average is $298.90 and its two-hundred day moving average is $292.23. RenaissanceRe Holdings Ltd. has a 1 year low of $231.17 and a 1 year high of $319.80. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a market capitalization of $13.61 billion, a PE ratio of 5.32, a price-to-earnings-growth ratio of 1.16 and a beta of 0.18.

RenaissanceRe (NYSE:RNR) last announced its earnings results on Tuesday, March 31st. The insurance provider reported $13.75 EPS for the quarter. RenaissanceRe had a net margin of 24.25% and a return on equity of 24.01%. The business had revenue of $2.19 billion during the quarter. Research analysts anticipate that RenaissanceRe Holdings Ltd. will post 40.05 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.64 dividend on an annualized basis and a yield of 0.5%. RenaissanceRe’s dividend payout ratio is presently 2.73%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on RNR shares. Citigroup upgraded shares of RenaissanceRe from a “neutral” rating to a “buy” rating and increased their target price for the stock from $335.00 to $345.00 in a report on Wednesday, June 10th. Evercore set a $309.00 price target on shares of RenaissanceRe in a report on Thursday, April 9th. UBS Group increased their price objective on shares of RenaissanceRe from $319.00 to $326.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Bank of America cut their price objective on shares of RenaissanceRe to $426.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Finally, Mizuho set a $325.00 price objective on shares of RenaissanceRe in a research note on Monday, May 4th. Five equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $323.64.

RenaissanceRe Company Profile

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.