Twinbeech Capital LP Buys Shares of 13,260 RenaissanceRe Holdings Ltd. (NYSE:RNR)

Twinbeech Capital LP bought a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 13,260 shares of the insurance provider's stock, valued at approximately $3,299,000.

Other institutional investors also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd purchased a new stake in shares of RenaissanceRe during the 4th quarter valued at $27,000. SBI Securities Co. Ltd. purchased a new position in RenaissanceRe in the 4th quarter worth approximately $29,000. MassMutual Private Wealth & Trust FSB increased its position in RenaissanceRe by 51.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider's stock worth $30,000 after purchasing an additional 41 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of RenaissanceRe by 1,587.5% during the 4th 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. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of RenaissanceRe by 71.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock worth $39,000 after acquiring an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 99.97% of the company's stock.

RenaissanceRe Stock Performance

RNR stock traded up $0.43 during mid-day trading on Friday, hitting $239.20. 711,311 shares of the company were exchanged, compared to its average volume of 431,649. The stock has a market capitalization of $11.64 billion, a PE ratio of 6.83, a price-to-earnings-growth ratio of 2.09 and a beta of 0.34. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19. 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 simple moving average of $240.45 and a 200-day simple moving average of $248.36.

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

RenaissanceRe Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.67%. The ex-dividend date is Friday, June 13th. RenaissanceRe's dividend payout ratio (DPR) is presently 5.10%.

Insider Activity at RenaissanceRe

In other RenaissanceRe news, CAO James Christopher Fraser sold 332 shares of the 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 completion of the transaction, 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 through this link. 1.30% of the stock is owned by insiders.

Analyst Ratings Changes

RNR has been the topic of several recent analyst reports. Barclays dropped their target price on RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating on the stock in a report on Friday, April 11th. Bank of America decreased their price objective on RenaissanceRe from $437.00 to $426.00 and set a "buy" rating on the stock in a research note on Wednesday, March 26th. Morgan Stanley set a $285.00 price objective on RenaissanceRe and gave the company an "overweight" rating in a research note on Monday. Wells Fargo & Company dropped their price target on shares of RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of RenaissanceRe in a research report on Thursday, April 24th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $283.60.

About RenaissanceRe

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.