SG Americas Securities LLC Sells 13,759 Shares of RenaissanceRe Holdings Ltd. $RNR

SG Americas Securities LLC reduced its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 69.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,970 shares of the insurance provider’s stock after selling 13,759 shares during the quarter. SG Americas Securities LLC’s holdings in RenaissanceRe were worth $1,774,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in shares of RenaissanceRe by 4.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,001,410 shares of the insurance provider’s stock worth $254,273,000 after purchasing an additional 45,936 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in RenaissanceRe by 135.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 195,975 shares of the insurance provider’s stock valued at $55,100,000 after purchasing an additional 112,910 shares in the last quarter. Prana Capital Management LP increased its stake in RenaissanceRe by 608.9% during the 3rd quarter. Prana Capital Management LP now owns 29,971 shares of the insurance provider’s stock valued at $7,611,000 after purchasing an additional 25,743 shares in the last quarter. Belpointe Asset Management LLC raised its holdings in RenaissanceRe by 595.0% during the fourth quarter. Belpointe Asset Management LLC now owns 6,151 shares of the insurance provider’s stock worth $1,729,000 after buying an additional 5,266 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in RenaissanceRe by 68.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,171 shares of the insurance provider’s stock worth $3,855,000 after buying an additional 5,782 shares during the last quarter. Institutional investors own 99.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of RenaissanceRe from $305.00 to $306.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Barclays lowered their target price on shares of RenaissanceRe from $341.00 to $328.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 29th. Keefe, Bruyette & Woods lifted their price target on RenaissanceRe from $323.00 to $327.00 and gave the company a “market perform” rating in a research note on Tuesday, April 7th. Cantor Fitzgerald raised RenaissanceRe from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $306.00 to $340.00 in a report on Thursday, April 9th. Finally, UBS Group increased their price objective on RenaissanceRe from $319.00 to $326.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Five investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $323.64.

RenaissanceRe Stock Performance

NYSE RNR opened at $326.55 on Friday. RenaissanceRe Holdings Ltd. has a 1 year low of $231.17 and a 1 year high of $328.39. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a market cap of $13.92 billion, a price-to-earnings ratio of 5.44, a PEG ratio of 1.19 and a beta of 0.17. The company has a fifty day moving average price of $299.49 and a 200-day moving average price of $293.92.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $13.75 earnings per share for the quarter. RenaissanceRe had a net margin of 24.25% and a return on equity of 24.01%. The company had revenue of $2.19 billion for the quarter. As a group, equities research analysts predict that RenaissanceRe Holdings Ltd. will post 40.05 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a $0.41 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.64 annualized dividend and a yield of 0.5%. RenaissanceRe’s dividend payout ratio (DPR) is 2.73%.

About RenaissanceRe

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.