Two Sigma Investments LP Purchases 1,042 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Two Sigma Investments LP grew its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 35.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,950 shares of the insurance provider's stock after purchasing an additional 1,042 shares during the quarter. Two Sigma Investments LP's holdings in RenaissanceRe were worth $983,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of RNR. Capital World Investors grew its holdings in RenaissanceRe by 8.8% during the 4th quarter. Capital World Investors now owns 2,882,835 shares of the insurance provider's stock worth $717,278,000 after acquiring an additional 233,708 shares during the period. Boston Partners boosted its position in shares of RenaissanceRe by 28.5% in the 4th quarter. Boston Partners now owns 2,013,382 shares of the insurance provider's stock worth $500,991,000 after purchasing an additional 446,781 shares during the last quarter. Impax Asset Management Group plc grew its stake in shares of RenaissanceRe by 10.8% during the fourth quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider's stock worth $466,969,000 after purchasing an additional 182,530 shares during the period. Polar Capital Holdings Plc increased its holdings in RenaissanceRe by 5.7% in the fourth quarter. Polar Capital Holdings Plc now owns 1,298,190 shares of the insurance provider's stock valued at $323,003,000 after purchasing an additional 69,884 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in RenaissanceRe by 24.3% in the fourth quarter. Geode Capital Management LLC now owns 1,144,805 shares of the insurance provider's stock valued at $284,907,000 after buying an additional 223,991 shares during the period. Institutional investors and hedge funds own 99.97% of the company's stock.

Insider Activity

In related news, CAO James Christopher Fraser sold 332 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $249.54, for a total value of $82,847.28. Following the sale, the chief accounting officer now owns 27,154 shares in the company, valued at approximately $6,776,009.16. This represents a 1.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company's stock.

RenaissanceRe Stock Down 1.2%

NYSE RNR traded down $2.90 during trading on Monday, hitting $243.93. The stock had a trading volume of 408,481 shares, compared to its average volume of 437,182. RenaissanceRe Holdings Ltd. has a 12 month low of $208.98 and a 12 month high of $300.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42. The company's 50-day moving average price is $241.42 and its two-hundred day moving average price is $246.85. The company has a market capitalization of $11.87 billion, a PE ratio of 6.97, a P/E/G ratio of 2.09 and a beta of 0.31.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported ($1.49) 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 the consensus estimate of $3.36 billion. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $12.18 EPS. As a group, sell-side analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Dividend Announcement

The company also recently declared 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 of this dividend is Friday, June 13th. RenaissanceRe's dividend payout ratio is currently 5.10%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on RNR shares. JPMorgan Chase & Co. raised RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price target for the company in a research note on Tuesday, April 8th. Bank of America cut their target price on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating on the stock in a report on Wednesday, March 26th. Wells Fargo & Company decreased their price target on shares of RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. JMP Securities reaffirmed a "market perform" rating on shares of RenaissanceRe in a research note on Thursday, April 24th. Finally, Keefe, Bruyette & Woods boosted their target price on RenaissanceRe from $279.00 to $282.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $283.60.

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.