RenaissanceRe Holdings Ltd. (NYSE:RNR) Stock Position Raised by SG Americas Securities LLC

SG Americas Securities LLC boosted its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 6,401.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,400 shares of the insurance provider's stock after purchasing an additional 38,794 shares during the period. SG Americas Securities LLC owned about 0.08% of RenaissanceRe worth $9,456,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd acquired a new position in RenaissanceRe during the 4th quarter worth approximately $27,000. SBI Securities Co. Ltd. bought a new position in RenaissanceRe during the 4th 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 worth $34,000 after purchasing an additional 127 shares during the period. 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 worth $39,000 after purchasing an additional 65 shares during the period. Finally, Huntington National Bank boosted 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 buying an additional 165 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company's stock.

RenaissanceRe Stock Performance

Shares of NYSE RNR traded down $2.93 during mid-day trading on Friday, hitting $244.03. The stock had a trading volume of 239,895 shares, compared to its average volume of 437,498. The company has a 50 day moving average of $242.35 and a two-hundred day moving average of $246.11. The firm has a market cap of $11.87 billion, a PE ratio of 6.97, a PEG ratio of 2.09 and a beta of 0.31. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42. RenaissanceRe Holdings Ltd. has a twelve month low of $208.98 and a twelve month high of $300.00.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($1.17). The firm had revenue of $3.44 billion for the quarter, compared to analysts' expectations of $3.36 billion. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. The company's revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company earned $12.18 earnings per share. Research analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, June 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.66%. RenaissanceRe's dividend payout ratio (DPR) is currently 5.10%.

Insider Transactions 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 value 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 trade represents a 1.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.30% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Bank of America lowered their target price on RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a report on Wednesday, March 26th. 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. JPMorgan Chase & Co. raised RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price target on the stock in a research report on Tuesday, April 8th. Wells Fargo & Company dropped their price target on RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Finally, Keefe, Bruyette & Woods increased their price objective on RenaissanceRe from $279.00 to $282.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. Two 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 MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price 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.