SG Americas Securities LLC Purchases 1,895 Shares of RenaissanceRe Holdings Ltd. (RNR)

SG Americas Securities LLC lifted its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 28.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,456 shares of the insurance provider’s stock after acquiring an additional 1,895 shares during the quarter. SG Americas Securities LLC’s holdings in RenaissanceRe were worth $1,062,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Nomura Holdings Inc. bought a new stake in shares of RenaissanceRe in the second quarter valued at about $212,000. Citigroup Inc. grew its stake in RenaissanceRe by 262.5% in the second quarter. Citigroup Inc. now owns 1,566 shares of the insurance provider’s stock valued at $218,000 after purchasing an additional 1,134 shares during the last quarter. Cadence Capital Management LLC purchased a new position in RenaissanceRe in the third quarter valued at about $219,000. Unison Advisors LLC purchased a new position in RenaissanceRe in the fourth quarter valued at about $219,000. Finally, Toronto Dominion Bank grew its stake in RenaissanceRe by 241.0% in the third quarter. Toronto Dominion Bank now owns 1,715 shares of the insurance provider’s stock valued at $232,000 after purchasing an additional 1,212 shares during the last quarter. Hedge funds and other institutional investors own 89.80% of the company’s stock.

In other news, SVP Sean G. Brosnan sold 1,391 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $135.73, for a total transaction of $188,800.43. Following the sale, the senior vice president now owns 8,405 shares in the company, valued at $1,140,810.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kevin Odonnell sold 5,000 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $131.65, for a total value of $658,250.00. Following the sale, the chief executive officer now owns 190,707 shares in the company, valued at approximately $25,106,576.55. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by insiders.

Several research firms have issued reports on RNR. Citigroup set a $152.00 target price on RenaissanceRe and gave the company a “buy” rating in a research note on Friday, February 9th. Zacks Investment Research upgraded RenaissanceRe from a “sell” rating to a “hold” rating in a research note on Tuesday, February 6th. Wells Fargo & Co reiterated a “hold” rating and issued a $125.00 target price on shares of RenaissanceRe in a research note on Wednesday, January 31st. UBS Group lifted their target price on RenaissanceRe from $135.00 to $144.00 and gave the company a “neutral” rating in a research note on Monday, November 6th. Finally, Morgan Stanley cut their target price on RenaissanceRe from $144.00 to $142.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $145.88.

RenaissanceRe Holdings Ltd. (NYSE:RNR) opened at $129.59 on Thursday. RenaissanceRe Holdings Ltd. has a 52 week low of $116.50 and a 52 week high of $152.00. The company has a quick ratio of 1.66, a current ratio of 1.77 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $5,167.47, a PE ratio of -20.41, a price-to-earnings-growth ratio of 1.37 and a beta of 0.63.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Wednesday, January 31st. The insurance provider reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.29. RenaissanceRe had a negative return on equity of 7.68% and a negative net margin of 10.57%. The business had revenue of $288.22 million for the quarter, compared to analyst estimates of $227.65 million. During the same quarter in the previous year, the firm earned $2.66 earnings per share. The company’s revenue was up 31.3% on a year-over-year basis. equities research analysts expect that RenaissanceRe Holdings Ltd. will post 9.95 EPS for the current fiscal year.

RenaissanceRe announced that its Board of Directors has authorized a share buyback program on Friday, November 10th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the insurance provider to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be paid a dividend of $0.33 per share. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.02%. RenaissanceRe’s payout ratio is presently -20.16%.

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RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd. provides reinsurance and insurance coverages and related services to a range of customers. The Company’s products include property, casualty and specialty reinsurance and certain insurance products principally distributed through intermediaries. Its segments include Property; Casualty and Specialty, and Other category.

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Institutional Ownership by Quarter for RenaissanceRe (NYSE:RNR)

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