RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC raised its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 6,401.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 39,400 shares of the insurance provider’s stock after acquiring an additional 38,794 shares during the quarter. SG Americas Securities LLC’s holdings in RenaissanceRe were worth $9,456,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd acquired a new position in RenaissanceRe in the 4th quarter valued at about $27,000. SBI Securities Co. Ltd. acquired a new position in RenaissanceRe in the 4th quarter valued at about $29,000. Jones Financial Companies Lllp grew its position in RenaissanceRe by 1,587.5% in the 4th quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 127 shares in the last quarter. Smartleaf Asset Management LLC grew its position in RenaissanceRe by 71.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 65 shares in the last quarter. Finally, Huntington National Bank grew its position in RenaissanceRe by 179.3% in the 4th quarter. Huntington National Bank now owns 257 shares of the insurance provider’s stock valued at $64,000 after acquiring an additional 165 shares in the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at RenaissanceRe

In other news, CAO James Christopher Fraser sold 332 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $249.54, for a total transaction of $82,847.28. Following the completion of the sale, the chief accounting officer now owns 27,154 shares in the company, valued at $6,776,009.16. This represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is owned by company insiders.

RenaissanceRe Price Performance

Shares of NYSE RNR opened at $241.16 on Thursday. 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 Holdings Ltd. has a twelve month low of $208.98 and a twelve month high of $300.00. The stock has a 50 day moving average of $241.44 and a two-hundred day moving average of $246.60. The stock has a market cap of $11.73 billion, a P/E ratio of 6.89, a P/E/G ratio of 2.09 and a beta of 0.31.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($1.17). RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. The firm had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.36 billion. During the same quarter in the prior year, the firm posted $12.18 EPS. RenaissanceRe’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, research analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Friday, June 13th. RenaissanceRe’s dividend payout ratio is currently 5.10%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RNR. Barclays dropped their target price on RenaissanceRe from $234.00 to $231.00 and set an “underweight” rating for the company in a research report on Friday, April 11th. Bank of America lowered their price objective on RenaissanceRe from $437.00 to $426.00 and set a “buy” rating for the company in a research report on Wednesday, March 26th. Morgan Stanley set a $285.00 price objective on RenaissanceRe and gave the stock an “overweight” rating in a research report on Monday, May 19th. JMP Securities reissued a “market perform” rating on shares of RenaissanceRe in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. raised RenaissanceRe from a “neutral” rating to an “overweight” rating and set a $284.00 price objective for the company in a research report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, RenaissanceRe has an average rating of “Hold” and an average price target of $283.60.

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.