RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Purchased by Two Sigma Advisers LP

Two Sigma Advisers LP raised its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 14.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,600 shares of the insurance provider's stock after purchasing an additional 1,600 shares during the quarter. Two Sigma Advisers LP's holdings in RenaissanceRe were worth $3,135,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bank of America Corp DE boosted its stake in shares of RenaissanceRe by 17.9% in the 4th quarter. Bank of America Corp DE now owns 817,247 shares of the insurance provider's stock valued at $203,339,000 after purchasing an additional 124,125 shares during the last quarter. Impax Asset Management Group plc increased its stake in RenaissanceRe by 10.8% in the fourth quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider's stock valued at $466,969,000 after purchasing an additional 182,530 shares in the last quarter. Trexquant Investment LP bought a new position in shares of RenaissanceRe during the fourth quarter worth $561,000. Barclays PLC grew its holdings in shares of RenaissanceRe by 57.1% in the 3rd quarter. Barclays PLC now owns 22,923 shares of the insurance provider's stock valued at $6,244,000 after buying an additional 8,333 shares during the period. Finally, Deutsche Bank AG raised its stake in RenaissanceRe by 4.2% during the 4th quarter. Deutsche Bank AG now owns 10,715 shares of the insurance provider's stock worth $2,666,000 after buying an additional 431 shares during the period. Institutional investors and hedge funds own 99.97% of the company's stock.

Insiders Place Their Bets

In related 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 value of $82,847.28. Following the completion of the transaction, the chief accounting officer now directly owns 27,154 shares in the company, valued at $6,776,009.16. This trade represents a 1.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.30% of the company's stock.

RenaissanceRe Price Performance

NYSE RNR traded up $4.45 during trading on Friday, reaching $249.59. The company's stock had a trading volume of 280,980 shares, compared to its average volume of 432,383. The firm has a fifty day moving average of $240.75 and a 200 day moving average of $247.62. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market capitalization of $12.14 billion, a PE ratio of 7.13, a P/E/G ratio of 2.09 and a beta of 0.34. RenaissanceRe Holdings Ltd. has a one year low of $208.98 and a one year high of $300.00.

RenaissanceRe (NYSE:RNR - Get Free Report) last released its earnings results 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 firm 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 quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $12.18 EPS. Analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

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 given 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 yield of 0.64%. RenaissanceRe's payout ratio is 5.10%.

Analyst Ratings Changes

RNR has been the subject of a number of research analyst reports. Barclays reduced their target price on shares of RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating for the company in a research note on Friday, April 11th. JPMorgan Chase & Co. raised shares of RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 target price for the company in a research report on Tuesday, April 8th. Bank of America dropped their price target on RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a research note on Wednesday, March 26th. Wells Fargo & Company cut their target price on RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of RenaissanceRe in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus 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.