1,099 Shares in RenaissanceRe Holdings Ltd. $RNR Purchased by Aigen Investment Management LP

Key Points

• Aigen Investment Management LP acquired a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) in the first quarter, purchasing 1,099 shares valued at approximately $264,000.
• The company's recent stock performance shows shares trading down to $239.09, with a market cap of $11.25 billion and a PE ratio of 6.11.
• Analysts have mixed ratings on the stock, with an average rating of "Hold" and a consensus target price of $282.09.

Aigen Investment Management LP acquired a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 1,099 shares of the insurance provider's stock, valued at approximately $264,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Virtu Financial LLC grew its position in RenaissanceRe by 165.9% in the first quarter. Virtu Financial LLC now owns 12,539 shares of the insurance provider's stock worth $3,009,000 after acquiring an additional 7,824 shares in the last quarter. Covestor Ltd boosted its holdings in shares of RenaissanceRe by 16.3% during the 1st quarter. Covestor Ltd now owns 1,036 shares of the insurance provider's stock worth $249,000 after buying an additional 145 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of RenaissanceRe by 79.6% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 30,967 shares of the insurance provider's stock worth $7,432,000 after buying an additional 13,723 shares during the period. Founders Financial Alliance LLC bought a new stake in shares of RenaissanceRe during the 1st quarter worth $212,000. Finally, Davis Selected Advisers boosted its holdings in shares of RenaissanceRe by 1.0% during the 1st quarter. Davis Selected Advisers now owns 143,801 shares of the insurance provider's stock worth $34,512,000 after buying an additional 1,488 shares during the period. Institutional investors and hedge funds own 99.97% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on RNR. Citigroup assumed coverage on shares of RenaissanceRe in a report on Wednesday, August 13th. They set a "buy" rating and a $288.00 price objective for the company. Morgan Stanley reduced their price target on shares of RenaissanceRe from $285.00 to $280.00 and set an "overweight" rating for the company in a report on Monday, July 14th. UBS Group increased their price target on shares of RenaissanceRe from $250.00 to $265.00 and gave the company a "neutral" rating in a report on Monday, July 28th. JMP Securities reissued a "market perform" rating on shares of RenaissanceRe in a report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods increased their price target on shares of RenaissanceRe from $268.00 to $269.00 and gave the company a "market perform" rating in a report on Monday, July 28th. Four analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $282.09.

RenaissanceRe Price Performance

RNR stock traded up $2.39 during trading on Tuesday, hitting $242.00. 43,011 shares of the stock traded hands, compared to its average volume of 482,400. RenaissanceRe Holdings Ltd. has a one year low of $219.00 and a one year high of $300.00. The stock has a market cap of $11.39 billion, a price-to-earnings ratio of 6.19, a P/E/G ratio of 2.34 and a beta of 0.29. The company has a 50 day simple moving average of $241.26 and a 200 day simple moving average of $240.15. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.23.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $12.29 earnings per share for the quarter, beating the consensus estimate of $10.28 by $2.01. The firm had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.96 billion. RenaissanceRe had a net margin of 15.44% and a return on equity of 15.00%. The company's quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the company posted $12.41 EPS. Equities analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.60 annualized dividend and a yield of 0.7%. RenaissanceRe's dividend payout ratio is presently 4.09%.

RenaissanceRe Profile

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.