GSA Capital Partners LLP Makes New $675,000 Investment in RenaissanceRe Holdings Ltd. $RNR

GSA Capital Partners LLP bought a new position in RenaissanceRe Holdings Ltd. (NYSE:RNR) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 2,131 shares of the insurance provider’s stock, valued at approximately $675,000.

A number of other hedge funds have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in RenaissanceRe by 39.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,687 shares of the insurance provider’s stock worth $2,325,000 after buying an additional 2,737 shares in the last quarter. Millennium Management LLC purchased a new position in shares of RenaissanceRe during the first quarter worth approximately $15,289,000. Jones Financial Companies Lllp lifted its stake in RenaissanceRe by 900.0% in the first quarter. Jones Financial Companies Lllp now owns 1,350 shares of the insurance provider’s stock worth $324,000 after purchasing an additional 1,215 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in RenaissanceRe by 72.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 57,186 shares of the insurance provider’s stock valued at $13,725,000 after acquiring an additional 24,027 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of RenaissanceRe by 18.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 441 shares of the insurance provider’s stock valued at $107,000 after purchasing an additional 69 shares during the period. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at RenaissanceRe

In related news, EVP Robert Qutub sold 5,000 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 72,907 shares of the company’s stock, valued at approximately $24,280,218.21. The trade was a 6.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

RNR has been the subject of a number of analyst reports. Morgan Stanley increased their target price on shares of RenaissanceRe from $310.00 to $320.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. UBS Group set a $349.00 price target on shares of RenaissanceRe and gave the stock a “neutral” rating in a research note on Monday, July 27th. Wall Street Zen cut RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Bank of America lifted their target price on shares of RenaissanceRe from $410.00 to $438.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. upped their price target on RenaissanceRe from $329.00 to $360.00 and gave the company a “neutral” rating in a report on Monday, July 20th. 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 company’s stock. Based on data from MarketBeat.com, RenaissanceRe currently has a consensus rating of “Hold” and an average target price of $336.33.

RenaissanceRe Trading Down 0.9%

Shares of RNR stock opened at $317.79 on Thursday. 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 firm has a fifty day moving average price of $316.86 and a 200-day moving average price of $304.71. The company has a market cap of $13.20 billion, a price-to-earnings ratio of 5.45, a PEG ratio of 1.17 and a beta of 0.17. RenaissanceRe Holdings Ltd. has a 1 year low of $231.17 and a 1 year high of $335.97.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Tuesday, June 30th. The insurance provider reported $12.92 EPS for the quarter. RenaissanceRe had a return on equity of 23.10% and a net margin of 23.65%.The firm had revenue of $2.77 billion for the quarter. As a group, equities analysts predict that RenaissanceRe Holdings Ltd. will post 42.29 earnings per share for the current year.

RenaissanceRe Announces Dividend

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

RenaissanceRe 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.