SG Americas Securities LLC increased its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR – Get Rating) by 23.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,788 shares of the insurance provider’s stock after purchasing an additional 2,811 shares during the period. SG Americas Securities LLC’s holdings in RenaissanceRe were worth $2,344,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Goldman Sachs Group Inc. increased its position in shares of RenaissanceRe by 85.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 170,355 shares of the insurance provider’s stock worth $28,846,000 after purchasing an additional 78,530 shares during the last quarter. Credit Suisse AG increased its position in shares of RenaissanceRe by 29.8% in the fourth quarter. Credit Suisse AG now owns 86,554 shares of the insurance provider’s stock worth $14,656,000 after purchasing an additional 19,874 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of RenaissanceRe by 16.1% in the fourth quarter. Teacher Retirement System of Texas now owns 9,171 shares of the insurance provider’s stock worth $1,553,000 after purchasing an additional 1,272 shares during the last quarter. Bridgefront Capital LLC bought a new position in shares of RenaissanceRe in the fourth quarter worth approximately $210,000. Finally, abrdn plc grew its position in RenaissanceRe by 1.9% during the fourth quarter. abrdn plc now owns 6,295 shares of the insurance provider’s stock valued at $1,066,000 after acquiring an additional 120 shares during the last quarter. 98.18% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, Director David C. Bushnell sold 600 shares of the firm’s stock in a transaction on Friday, May 20th. The stock was sold at an average price of $148.41, for a total value of $89,046.00. Following the completion of the sale, the director now owns 19,914 shares of the company’s stock, valued at $2,955,436.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is currently owned by insiders.
Analysts Set New Price Targets
RenaissanceRe Stock Down 0.0 %
Shares of RenaissanceRe stock opened at $139.50 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.35 and a current ratio of 1.35. RenaissanceRe Holdings Ltd. has a 52-week low of $134.70 and a 52-week high of $174.54. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of -28.76 and a beta of 0.53. The company’s 50 day moving average price is $150.14 and its 200-day moving average price is $152.35.
RenaissanceRe (NYSE:RNR – Get Rating) last issued its earnings results on Tuesday, May 3rd. The insurance provider reported $3.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.63 by ($1.13). RenaissanceRe had a positive return on equity of 4.25% and a negative net margin of 2.68%. The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2 billion. During the same quarter in the prior year, the business posted $0.09 EPS. The firm’s revenue for the quarter was up 18.7% on a year-over-year basis. Equities research analysts forecast that RenaissanceRe Holdings Ltd. will post 14.2 EPS for the current year.
RenaissanceRe Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Wednesday, June 15th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Tuesday, June 14th. RenaissanceRe’s payout ratio is -30.52%.
RenaissanceRe Holdings Ltd. 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 retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising 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.
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