SG Americas Securities LLC Acquires 38,794 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

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

A number of other large investors also recently modified their holdings of the company. AMG National Trust Bank boosted its position in shares of RenaissanceRe by 1.3% in the fourth quarter. AMG National Trust Bank now owns 4,688 shares of the insurance provider's stock valued at $1,166,000 after acquiring an additional 59 shares during the period. Principal Securities Inc. boosted its position in shares of RenaissanceRe by 11.9% in the fourth quarter. Principal Securities Inc. now owns 565 shares of the insurance provider's stock valued at $141,000 after acquiring an additional 60 shares during the period. Bessemer Group Inc. boosted its position in shares of RenaissanceRe by 5.8% in the fourth quarter. Bessemer Group Inc. now owns 1,106 shares of the insurance provider's stock valued at $274,000 after acquiring an additional 61 shares during the period. Independent Advisor Alliance raised its stake in RenaissanceRe by 7.7% in the fourth quarter. Independent Advisor Alliance now owns 864 shares of the insurance provider's stock valued at $215,000 after purchasing an additional 62 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in 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 purchasing an additional 65 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors.

Insider Activity at RenaissanceRe

In other news, CAO James Christopher Fraser sold 332 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $249.54, for a total transaction 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. The trade was a 1.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RNR. JPMorgan Chase & Co. raised shares of RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 target price on the stock in a research note on Tuesday, April 8th. JMP Securities reaffirmed a "market perform" rating on shares of RenaissanceRe in a research note on Thursday, April 24th. Keefe, Bruyette & Woods raised their target price on shares of RenaissanceRe from $279.00 to $282.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. Bank of America lowered their target price on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating on the stock in a research note on Wednesday, March 26th. Finally, Jefferies Financial Group lowered their target price 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. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $283.60.

RenaissanceRe Trading Down 1.2%

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 438,231. 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 1 year low of $208.98 and a 1 year high of $300.00. The business has a 50 day moving average price of $242.35 and a two-hundred day moving average price of $245.56. The firm has a market cap of $11.87 billion, a P/E ratio of 6.97, a price-to-earnings-growth ratio of 2.09 and a beta of 0.31.

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

RenaissanceRe Announces Dividend

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

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.