Bryce Point Capital LLC Has $734,000 Stock Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Key Points

• Bryce Point Capital LLC reduced its stake in RenaissanceRe Holdings by 46.7%, now holding 3,136 shares valued at $734,000.
• Shares of RenaissanceRe are currently trading at $247.18, with a 1-year range between $219.00 and $300.00, while the company reported $12.29 EPS for the last quarter, exceeding analysts' estimates.
• The firm recently announced a quarterly dividend of $0.40 per share, representing an annualized yield of 0.65%.

Bryce Point Capital LLC decreased its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 46.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,136 shares of the insurance provider's stock after selling 2,748 shares during the quarter. Bryce Point Capital LLC's holdings in RenaissanceRe were worth $734,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in RNR. Aster Capital Management DIFC Ltd bought a new position in shares of RenaissanceRe in the 4th quarter valued at about $27,000. Tsfg LLC bought a new stake in RenaissanceRe during the first quarter worth about $40,000. LRI Investments LLC boosted its position in RenaissanceRe by 116.5% during the first quarter. LRI Investments LLC now owns 262 shares of the insurance provider's stock valued at $63,000 after purchasing an additional 141 shares during the last quarter. Huntington National Bank grew its stake in RenaissanceRe by 179.3% in the fourth quarter. Huntington National Bank now owns 257 shares of the insurance provider's stock valued at $64,000 after purchasing an additional 165 shares in the last quarter. Finally, UMB Bank n.a. increased its position in shares of RenaissanceRe by 165.1% during the 1st quarter. UMB Bank n.a. now owns 464 shares of the insurance provider's stock worth $111,000 after purchasing an additional 289 shares during the last quarter. Institutional investors own 99.97% of the company's stock.

Insider Activity at RenaissanceRe

In related news, CAO James Christopher Fraser sold 332 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $249.54, for a total transaction of $82,847.28. Following the transaction, the chief accounting officer directly owned 27,154 shares of the company's stock, valued at approximately $6,776,009.16. This trade represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.00% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on RNR shares. JMP Securities reaffirmed a "market perform" rating on shares of RenaissanceRe in a research report on Thursday, April 24th. Jefferies Financial Group lowered their price objective on shares of RenaissanceRe from $266.00 to $265.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Barclays upped their target price on shares of RenaissanceRe from $256.00 to $273.00 and gave the company an "equal weight" rating in a report on Thursday. Morgan Stanley reduced their price target on RenaissanceRe from $285.00 to $280.00 and set an "overweight" rating for the company in a report on Monday, July 14th. Finally, Keefe, Bruyette & Woods boosted their price target on RenaissanceRe from $268.00 to $269.00 and gave the stock a "market perform" rating in a research report on Monday. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $287.50.

RenaissanceRe Stock Performance

Shares of RenaissanceRe stock traded down $1.97 on Monday, hitting $245.29. The stock had a trading volume of 617,763 shares, compared to its average volume of 504,114. The stock has a market cap of $11.93 billion, a price-to-earnings ratio of 6.27, a price-to-earnings-growth ratio of 2.64 and a beta of 0.30. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.23. RenaissanceRe Holdings Ltd. has a twelve month low of $219.00 and a twelve month high of $300.00. The business's 50 day moving average is $242.30 and its two-hundred day moving average is $241.30.

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

RenaissanceRe Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.65%. RenaissanceRe's payout ratio is presently 4.09%.

RenaissanceRe Company 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.