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

Hsbc Holdings PLC grew its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3,272.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,195 shares of the insurance provider’s stock after purchasing an additional 27,359 shares during the quarter. Hsbc Holdings PLC owned approximately 0.06% of RenaissanceRe worth $7,968,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Quarry LP grew its stake in RenaissanceRe by 65.0% in the 3rd quarter. Quarry LP now owns 132 shares of the insurance provider’s stock valued at $34,000 after buying an additional 52 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position 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 acquiring an additional 94 shares during the last quarter. Kingdom Financial Group LLC. acquired a new stake in RenaissanceRe during the fourth quarter worth approximately $36,000. Mcguire Capital Advisors Inc. bought a new stake in shares of RenaissanceRe during the fourth quarter worth approximately $38,000. Finally, SBI Securities Co. Ltd. boosted its holdings in shares of RenaissanceRe by 33.6% during the fourth quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock worth $41,000 after acquiring an additional 37 shares during the period. Institutional investors and hedge funds own 99.97% of the company’s stock.

Analyst Ratings Changes

RNR has been the topic of a number of recent research reports. Keefe, Bruyette & Woods increased their target price on RenaissanceRe from $327.00 to $342.00 and gave the stock a “market perform” rating in a research note on Wednesday. UBS Group boosted their price target on RenaissanceRe from $326.00 to $342.00 and gave the company a “neutral” rating in a research note on Wednesday. Cantor Fitzgerald raised RenaissanceRe from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $306.00 to $340.00 in a report on Thursday, April 9th. Wells Fargo & Company increased their price objective on RenaissanceRe from $305.00 to $306.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Finally, TD Cowen lifted their target price on RenaissanceRe from $300.00 to $315.00 and gave the stock a “hold” rating in a report on Tuesday. Five analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $328.33.

RenaissanceRe Stock Down 0.2%

Shares of RNR opened at $322.94 on Thursday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.22. RenaissanceRe Holdings Ltd. has a 12 month low of $231.17 and a 12 month high of $329.57. The firm’s 50 day moving average is $300.54 and its 200-day moving average is $295.34. The stock has a market capitalization of $13.77 billion, a PE ratio of 5.38, a P/E/G ratio of 1.21 and a beta of 0.17.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $13.75 earnings per share (EPS) for the quarter. RenaissanceRe had a return on equity of 24.01% and a net margin of 24.25%.The business had revenue of $2.19 billion for the quarter. Equities research analysts forecast that RenaissanceRe Holdings Ltd. will post 40.19 EPS for the current year.

RenaissanceRe Announces Dividend

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

RenaissanceRe 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.