Two Sigma Advisers LP Has $3.14 Million Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Two Sigma Advisers LP increased its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 14.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 filing with the SEC.

Several other institutional investors have also made changes to their positions in RNR. Barclays PLC boosted its stake in shares of RenaissanceRe by 57.1% during 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. Janney Montgomery Scott LLC boosted its stake in shares of RenaissanceRe by 4.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 5,290 shares of the insurance provider's stock valued at $1,316,000 after buying an additional 222 shares during the period. Exchange Traded Concepts LLC boosted its stake in shares of RenaissanceRe by 2.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 2,893 shares of the insurance provider's stock valued at $720,000 after buying an additional 70 shares during the period. Flagship Harbor Advisors LLC boosted its stake in shares of RenaissanceRe by 15.6% during the 4th quarter. Flagship Harbor Advisors LLC now owns 1,335 shares of the insurance provider's stock valued at $332,000 after buying an additional 180 shares during the period. Finally, First Citizens Bank & Trust Co. boosted its stake in shares of RenaissanceRe by 20.0% during the 4th quarter. First Citizens Bank & Trust Co. now owns 1,288 shares of the insurance provider's stock valued at $320,000 after buying an additional 215 shares during the period. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Morgan Stanley set a $285.00 target price on shares of RenaissanceRe and gave the company an "overweight" rating in a research note on Monday, May 19th. JMP Securities reissued a "market perform" rating on shares of RenaissanceRe in a research note on Thursday, April 24th. Bank of America decreased their target price on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a research note on Wednesday, March 26th. Barclays reduced their price objective 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. Finally, Jefferies Financial Group reduced their price objective on shares of RenaissanceRe from $266.00 to $265.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $283.60.

Insider Transactions at RenaissanceRe

In related news, CAO James Christopher Fraser sold 332 shares of the company'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 sale, the chief accounting officer now owns 27,154 shares of the company's stock, valued at $6,776,009.16. The trade was a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.30% of the company's stock.

RenaissanceRe Stock Performance

RNR traded up $4.49 during trading on Friday, hitting $249.63. The stock had a trading volume of 584,545 shares, compared to its average volume of 433,882. The firm has a market cap 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 12 month low of $208.98 and a 12 month high of $300.00. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19. The company has a 50 day simple moving average of $240.96 and a 200-day simple moving average of $247.43.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced 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). 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 revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the business earned $12.18 EPS. Analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued 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 0.64%. RenaissanceRe's payout ratio is 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.