Two Sigma Securities LLC Makes New $908,000 Investment in RenaissanceRe Holdings Ltd. $RNR

Two Sigma Securities LLC purchased a new position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,866 shares of the insurance provider’s stock, valued at approximately $908,000.

Several other hedge funds and other institutional investors have also modified their holdings of RNR. BlackRock Inc. acquired a new stake in RenaissanceRe during the second quarter worth about $1,319,724,000. Orbis Allan Gray Ltd bought a new stake in shares of RenaissanceRe in the 4th quarter worth approximately $178,519,000. Norges Bank acquired a new stake in shares of RenaissanceRe during the 4th quarter worth approximately $168,582,000. GQG Partners LLC bought a new stake in shares of RenaissanceRe during the second quarter valued at approximately $185,351,000. Finally, Egerton Capital UK LLP bought a new stake in shares of RenaissanceRe during the fourth quarter valued at approximately $137,944,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

RenaissanceRe Stock Performance

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

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

RenaissanceRe Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, September 15th. RenaissanceRe’s dividend payout ratio is currently 2.81%.

Insider Buying and Selling at RenaissanceRe

In other news, EVP Robert Qutub sold 5,000 shares of RenaissanceRe stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $333.03, for a total value of $1,665,150.00. Following the completion of the transaction, the executive vice president owned 72,907 shares in the company, valued at approximately $24,280,218.21. The trade was a 6.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wolfe Research set a $315.00 target price on RenaissanceRe in a research report on Tuesday, July 7th. Barclays increased their price objective on shares of RenaissanceRe from $328.00 to $341.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 7th. Wells Fargo & Company lifted their target price on shares of RenaissanceRe from $306.00 to $329.00 and gave the company an “equal weight” rating in a research report on Thursday, July 9th. TD Cowen upped their target price on shares of RenaissanceRe from $300.00 to $315.00 and gave the company a “hold” rating in a research note on Tuesday, July 7th. Finally, Bank of America increased their price target on shares of RenaissanceRe from $410.00 to $438.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Five equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $336.33.

RenaissanceRe Company 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.