Two Sigma Securities LLC Purchases New Shares in RenaissanceRe Holdings Ltd. $RNR

Two Sigma Securities LLC acquired a new position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) during the second quarter, HoldingsChannel reports. The fund acquired 2,866 shares of the insurance provider’s stock, valued at approximately $908,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RNR. SBI Securities Co. Ltd. raised its stake in shares of RenaissanceRe by 33.6% in the fourth quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock worth $41,000 after acquiring an additional 37 shares during the last quarter. Beacon Pointe Advisors LLC grew its stake in shares of RenaissanceRe by 2.2% during the fourth quarter. Beacon Pointe Advisors LLC now owns 1,857 shares of the insurance provider’s stock valued at $522,000 after purchasing an additional 40 shares during the last quarter. Midwest Professional Planners LTD. increased its holdings in shares of RenaissanceRe by 1.5% in the first quarter. Midwest Professional Planners LTD. now owns 3,313 shares of the insurance provider’s stock valued at $985,000 after purchasing an additional 48 shares in the last quarter. Brown Brothers Harriman & Co. increased its holdings in shares of RenaissanceRe by 2.6% in the third quarter. Brown Brothers Harriman & Co. now owns 2,006 shares of the insurance provider’s stock valued at $509,000 after purchasing an additional 51 shares in the last quarter. Finally, Quarry LP raised its position in RenaissanceRe by 65.0% in the 3rd quarter. Quarry LP now owns 132 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 52 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

Insider Activity

In other news, EVP Robert Qutub sold 5,000 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $333.03, for a total value of $1,665,150.00. Following the completion of the sale, the executive vice president directly owned 72,907 shares of the company’s stock, valued at $24,280,218.21. This represents a 6.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Weiss Ratings downgraded RenaissanceRe from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, August 17th. Wells Fargo & Company boosted their target price on RenaissanceRe from $306.00 to $329.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of RenaissanceRe in a research note on Thursday, July 23rd. Citigroup upgraded RenaissanceRe from a “neutral” rating to a “buy” rating and raised their price target for the company from $335.00 to $345.00 in a report on Wednesday, June 10th. Finally, Morgan Stanley boosted their price objective on RenaissanceRe from $310.00 to $320.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. Five investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $336.33.

RenaissanceRe Price Performance

RNR opened at $327.62 on Tuesday. The company has a fifty day moving average price of $321.37 and a two-hundred day moving average price of $306.70. The firm has a market capitalization of $13.61 billion, a PE ratio of 5.62, a P/E/G ratio of 1.20 and a beta of 0.17. RenaissanceRe Holdings Ltd. has a 52 week low of $231.17 and a 52 week high of $335.97. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.38 and a current ratio of 1.38.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings results on Tuesday, June 30th. The insurance provider reported $12.92 earnings per share for the quarter. RenaissanceRe had a return on equity of 23.10% and a net margin of 23.65%.The company had revenue of $2.77 billion for the quarter. As a group, analysts anticipate that RenaissanceRe Holdings Ltd. will post 42.4 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.41 per share. The ex-dividend date is Tuesday, September 15th. This represents a $1.64 dividend on an annualized basis and a yield of 0.5%. RenaissanceRe’s dividend payout ratio (DPR) is 2.81%.

RenaissanceRe Profile

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.