Susquehanna Fundamental Investments LLC Has $2.83 Million Stock Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Susquehanna Fundamental Investments LLC grew its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 322.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,648 shares of the insurance provider’s stock after buying an additional 9,651 shares during the quarter. Susquehanna Fundamental Investments LLC’s holdings in RenaissanceRe were worth $2,827,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its holdings in shares of RenaissanceRe by 19.8% in the second quarter. EverSource Wealth Advisors LLC now owns 272 shares of the insurance provider’s stock valued at $63,000 after buying an additional 45 shares during the last quarter. CWM LLC raised its stake in shares of RenaissanceRe by 8.7% in the first quarter. CWM LLC now owns 610 shares of the insurance provider’s stock worth $143,000 after acquiring an additional 49 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of RenaissanceRe by 0.9% during the first quarter. State of Alaska Department of Revenue now owns 5,714 shares of the insurance provider’s stock worth $1,342,000 after purchasing an additional 50 shares in the last quarter. Hilltop National Bank grew its stake in shares of RenaissanceRe by 14.9% during the second quarter. Hilltop National Bank now owns 400 shares of the insurance provider’s stock valued at $89,000 after purchasing an additional 52 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of RenaissanceRe by 1.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,926 shares of the insurance provider’s stock valued at $965,000 after purchasing an additional 73 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

RenaissanceRe Stock Performance

Shares of RNR stock opened at $272.40 on Tuesday. The stock has a 50-day moving average of $247.60 and a 200-day moving average of $232.74. RenaissanceRe Holdings Ltd. has a one year low of $188.24 and a one year high of $272.73. The stock has a market cap of $14.21 billion, a PE ratio of 6.02, a price-to-earnings-growth ratio of 1.44 and a beta of 0.38. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Wednesday, July 24th. The insurance provider reported $12.41 EPS for the quarter, beating the consensus estimate of $10.88 by $1.53. The firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.93 billion. RenaissanceRe had a net margin of 25.38% and a return on equity of 27.74%. As a group, sell-side analysts expect that RenaissanceRe Holdings Ltd. will post 39.01 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.56 annualized dividend and a yield of 0.57%. RenaissanceRe’s dividend payout ratio is presently 3.45%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on RNR shares. Barclays began coverage on RenaissanceRe in a report on Wednesday, September 4th. They set an “equal weight” rating and a $287.00 price objective on the stock. JPMorgan Chase & Co. upped their price target on RenaissanceRe from $265.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. UBS Group decreased their price target on RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Citigroup boosted their price objective on RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, StockNews.com lowered shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $272.60.

Insider Buying and Selling at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $269.00, for a total transaction of $269,000.00. Following the sale, the executive vice president now owns 83,044 shares of the company’s stock, valued at $22,338,836. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $269.00, for a total value of $269,000.00. Following the completion of the transaction, the executive vice president now owns 83,044 shares in the company, valued at $22,338,836. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert Qutub sold 2,500 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $224.56, for a total transaction of $561,400.00. Following the sale, the chief financial officer now owns 73,915 shares in the company, valued at $16,598,352.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,500 shares of company stock valued at $1,060,400. Company insiders own 1.30% of the company’s stock.

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.