RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC boosted its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 33,487.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 396,000 shares of the insurance provider's stock after acquiring an additional 394,821 shares during the quarter. GAMMA Investing LLC owned about 0.81% of RenaissanceRe worth $95,040,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd purchased a new position in RenaissanceRe in the fourth quarter worth $27,000. SBI Securities Co. Ltd. purchased a new position in RenaissanceRe in the fourth quarter worth $29,000. Jones Financial Companies Lllp increased its position in shares of RenaissanceRe by 1,587.5% in the fourth quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock valued at $34,000 after buying an additional 127 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of RenaissanceRe by 71.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock valued at $39,000 after buying an additional 65 shares in the last quarter. Finally, Huntington National Bank increased its position in shares of 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 buying an additional 165 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company's stock.

RenaissanceRe Price Performance

Shares of RNR traded down $4.02 during trading hours on Thursday, reaching $242.85. 478,817 shares of the company traded hands, compared to its average volume of 435,439. The stock has a fifty day simple moving average of $241.38 and a 200 day simple moving average of $247.22. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. RenaissanceRe Holdings Ltd. has a fifty-two week low of $208.98 and a fifty-two week high of $300.00. The stock has a market capitalization of $11.81 billion, a PE ratio of 6.93, a price-to-earnings-growth ratio of 2.09 and a beta of 0.34.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.32) by ($1.17). The business had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.36 billion. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. The firm's quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $12.18 earnings per share. As a group, research analysts predict 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 Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.66%. RenaissanceRe's payout ratio is currently 5.10%.

Insider Activity at RenaissanceRe

In other RenaissanceRe news, CAO James Christopher Fraser sold 332 shares of RenaissanceRe 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 sale, the chief accounting officer now directly owns 27,154 shares in the company, valued at $6,776,009.16. The trade was a 1.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RNR. Wells Fargo & Company dropped their price target on RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Keefe, Bruyette & Woods raised their price target on RenaissanceRe from $279.00 to $282.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. Barclays dropped their price target on RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. upgraded RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price target for the company in a research report on Tuesday, April 8th. Finally, Morgan Stanley set a $285.00 price target on RenaissanceRe and gave the company an "overweight" rating in a research report on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $283.60.

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.