RenaissanceRe Holdings Ltd. $RNR Shares Acquired by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC boosted its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 53.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,472 shares of the insurance provider’s stock after purchasing an additional 14,507 shares during the period. Susquehanna Fundamental Investments LLC owned approximately 0.10% of RenaissanceRe worth $13,142,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RNR. BlackRock Inc. bought a new stake in shares of RenaissanceRe in the 2nd quarter worth $1,319,724,000. Boston Partners raised its position in RenaissanceRe by 9.9% in the fourth quarter. Boston Partners now owns 1,423,483 shares of the insurance provider’s stock worth $400,150,000 after acquiring an additional 128,245 shares in the last quarter. Lightrock Netherlands B.V. lifted its holdings in RenaissanceRe by 15.8% in the 1st quarter. Lightrock Netherlands B.V. now owns 1,178,423 shares of the insurance provider’s stock valued at $350,263,000 after acquiring an additional 160,915 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of RenaissanceRe by 5.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,085,380 shares of the insurance provider’s stock valued at $322,603,000 after purchasing an additional 52,371 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of RenaissanceRe by 17.6% in the 2nd quarter. Bank of America Corp DE now owns 803,547 shares of the insurance provider’s stock worth $195,182,000 after purchasing an additional 120,063 shares during the last quarter. 99.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on RNR. Keefe, Bruyette & Woods boosted their target price on shares of RenaissanceRe from $342.00 to $350.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Mizuho lifted their price target on shares of RenaissanceRe from $325.00 to $329.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Weiss Ratings cut RenaissanceRe from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, August 17th. Cantor Fitzgerald reiterated an “overweight” rating on shares of RenaissanceRe in a research report on Thursday, July 23rd. Finally, Wolfe Research set a $315.00 price objective on RenaissanceRe in a research note on Tuesday, July 7th. 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. According to MarketBeat.com, RenaissanceRe has a consensus rating of “Hold” and an average price target of $336.33.

RenaissanceRe Stock Performance

Shares of RNR opened at $330.58 on Monday. The company has a 50-day moving average of $320.85 and a two-hundred day moving average of $306.47. The stock has a market cap of $13.74 billion, a price-to-earnings ratio of 5.67, a PEG ratio of 1.20 and a beta of 0.17. 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 Holdings Ltd. has a one year low of $231.17 and a one year high of $335.97.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings results on Tuesday, June 30th. The insurance provider reported $12.92 earnings per share (EPS) for the quarter. The business 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%. On average, equities research analysts expect that RenaissanceRe Holdings Ltd. will post 42.4 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The company also recently announced 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 payout ratio is 2.81%.

Insider Transactions at RenaissanceRe

In other news, EVP Robert Qutub sold 5,000 shares of the stock in a transaction on 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 owned 72,907 shares in the company, valued at $24,280,218.21. This represents a 6.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.30% of the stock is currently owned by company insiders.

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.