SG Americas Securities LLC Has $602,000 Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

SG Americas Securities LLC cut its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 83.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,070 shares of the insurance provider's stock after selling 15,282 shares during the period. SG Americas Securities LLC's holdings in RenaissanceRe were worth $602,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in RNR. American Century Companies Inc. boosted its stake in shares of RenaissanceRe by 8.1% during the 1st quarter. American Century Companies Inc. now owns 14,404 shares of the insurance provider's stock worth $2,283,000 after purchasing an additional 1,083 shares during the period. Bank of Montreal Can boosted its stake in shares of RenaissanceRe by 7.1% during the 1st quarter. Bank of Montreal Can now owns 15,536 shares of the insurance provider's stock worth $2,461,000 after purchasing an additional 1,025 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of RenaissanceRe by 5.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,119 shares of the insurance provider's stock worth $2,555,000 after purchasing an additional 861 shares during the period. Great West Life Assurance Co. Can boosted its stake in shares of RenaissanceRe by 5.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 24,034 shares of the insurance provider's stock worth $3,914,000 after purchasing an additional 1,163 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of RenaissanceRe by 2.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 679,383 shares of the insurance provider's stock worth $107,689,000 after purchasing an additional 15,215 shares during the period. 99.97% of the stock is owned by hedge funds and other institutional investors.

RenaissanceRe Stock Down 2.4 %

Shares of NYSE:RNR traded down $5.58 during trading hours on Thursday, hitting $224.12. The company's stock had a trading volume of 418,940 shares, compared to its average volume of 369,778. RenaissanceRe Holdings Ltd. has a 52 week low of $174.22 and a 52 week high of $239.42. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.40 and a quick ratio of 1.40. The company has a market capitalization of $11.81 billion, a price-to-earnings ratio of 4.37, a P/E/G ratio of 2.57 and a beta of 0.30. The firm's fifty day moving average price is $228.53 and its 200 day moving average price is $214.23.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted its quarterly earnings results on Tuesday, January 30th. The insurance provider reported $11.77 EPS for the quarter, beating the consensus estimate of $8.13 by $3.64. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.83 billion. RenaissanceRe had a net margin of 28.04% and a return on equity of 26.93%. The company's quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $7.33 EPS. As a group, research analysts expect that RenaissanceRe Holdings Ltd. will post 34.46 EPS for the current year.

RenaissanceRe Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.70%. The ex-dividend date was Thursday, March 14th. This is a positive change from RenaissanceRe's previous quarterly dividend of $0.38. RenaissanceRe's payout ratio is 3.05%.

Insider Buying and Selling

In related news, EVP David E. Marra sold 750 shares of the business's stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $229.00, for a total transaction of $171,750.00. Following the completion of the transaction, the executive vice president now owns 79,699 shares in the company, valued at approximately $18,251,071. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP David E. Marra sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $209.05, for a total transaction of $209,050.00. Following the completion of the transaction, the executive vice president now owns 80,449 shares in the company, valued at approximately $16,817,863.45. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP David E. Marra sold 750 shares of the company's stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $229.00, for a total transaction of $171,750.00. Following the transaction, the executive vice president now owns 79,699 shares in the company, valued at approximately $18,251,071. The disclosure for this sale can be found here. Insiders sold a total of 5,130 shares of company stock worth $1,167,479 in the last 90 days. 1.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

RNR has been the subject of several research reports. Evercore ISI initiated coverage on shares of RenaissanceRe in a research report on Thursday, December 14th. They issued an "underperform" rating and a $200.00 price objective for the company. TD Cowen initiated coverage on shares of RenaissanceRe in a research report on Wednesday, January 10th. They issued a "market perform" rating for the company. UBS Group boosted their price objective on shares of RenaissanceRe from $229.00 to $238.00 and gave the company a "neutral" rating in a research report on Monday, February 5th. Finally, BMO Capital Markets boosted their price objective on shares of RenaissanceRe from $216.00 to $295.00 and gave the company an "outperform" rating in a research report on Monday, February 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $248.22.

RenaissanceRe 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.