RenaissanceRe Holdings Ltd. $RNR Position Boosted by SG Americas Securities LLC

SG Americas Securities LLC boosted its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3,087.2% during the 4th quarter, Holdings Channel reports. The fund owned 19,729 shares of the insurance provider’s stock after acquiring an additional 19,110 shares during the quarter. SG Americas Securities LLC’s holdings in RenaissanceRe were worth $5,547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of RenaissanceRe by 39.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,687 shares of the insurance provider’s stock worth $2,325,000 after purchasing an additional 2,737 shares in the last quarter. Millennium Management LLC acquired a new stake in RenaissanceRe in the first quarter worth about $15,289,000. Jones Financial Companies Lllp grew its position in RenaissanceRe by 900.0% in the 1st quarter. Jones Financial Companies Lllp now owns 1,350 shares of the insurance provider’s stock valued at $324,000 after buying an additional 1,215 shares in the last quarter. Goldman Sachs Group Inc. grew its position in RenaissanceRe by 72.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 57,186 shares of the insurance provider’s stock valued at $13,725,000 after buying an additional 24,027 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in RenaissanceRe by 5.6% during the 2nd quarter. Cetera Investment Advisers now owns 4,667 shares of the insurance provider’s stock valued at $1,134,000 after buying an additional 247 shares during the period. Institutional investors own 99.97% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Mizuho boosted their price target on shares of RenaissanceRe from $277.00 to $313.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. Keefe, Bruyette & Woods raised their price objective on shares of RenaissanceRe from $314.00 to $323.00 and gave the company a “market perform” rating in a research note on Monday, February 9th. The Goldman Sachs Group reissued a “sell” rating and set a $267.00 target price on shares of RenaissanceRe in a report on Wednesday, January 7th. JPMorgan Chase & Co. upped their target price on RenaissanceRe from $303.00 to $329.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 7th. Finally, Wall Street Zen raised RenaissanceRe from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Two research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, RenaissanceRe presently has an average rating of “Hold” and an average price target of $302.00.

RenaissanceRe Price Performance

Shares of NYSE RNR opened at $296.89 on Wednesday. RenaissanceRe Holdings Ltd. has a twelve month low of $219.00 and a twelve month high of $315.88. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average of $294.11 and a two-hundred day moving average of $273.68. The company has a market capitalization of $12.81 billion, a price-to-earnings ratio of 5.24, a PEG ratio of 0.69 and a beta of 0.21.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Tuesday, February 3rd. The insurance provider reported $13.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.59 by $2.75. RenaissanceRe had a net margin of 20.88% and a return on equity of 18.29%. The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the company posted $8.06 EPS. The business’s revenue was up 29.6% compared to the same quarter last year. As a group, analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 0.6%. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, March 13th. RenaissanceRe’s dividend payout ratio (DPR) is presently 2.89%.

Insider Transactions at RenaissanceRe

In other RenaissanceRe news, EVP Robert Qutub sold 5,000 shares of the company’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $305.75, for a total value of $1,528,750.00. Following the transaction, the executive vice president owned 73,023 shares of the company’s stock, valued at approximately $22,326,782.25. This represents a 6.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.30% of the company’s stock.

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.