RenaissanceRe Holdings Ltd. $RNR Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP grew its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 14.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,733 shares of the insurance provider’s stock after buying an additional 2,920 shares during the quarter. Quantinno Capital Management LP owned 0.05% of RenaissanceRe worth $6,757,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Kingdom Financial Group LLC. purchased a new position in RenaissanceRe during the fourth quarter valued at approximately $36,000. Quarry LP boosted its position in RenaissanceRe by 65.0% in the 3rd quarter. Quarry LP now owns 132 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 52 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of RenaissanceRe by 235.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 94 shares during the period. Mcguire Capital Advisors Inc. acquired a new stake in shares of RenaissanceRe during the 4th quarter worth approximately $38,000. Finally, SBI Securities Co. Ltd. increased its holdings in shares of RenaissanceRe by 33.6% during the 4th quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Insider Buying and Selling at RenaissanceRe

In related news, EVP Robert Qutub sold 5,000 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $333.03, for a total transaction of $1,665,150.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on RNR shares. TD Cowen increased their price target on shares of RenaissanceRe from $300.00 to $315.00 and gave the stock a “hold” rating in a report on Tuesday, July 7th. JPMorgan Chase & Co. lifted their price objective on shares of RenaissanceRe from $329.00 to $360.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Keefe, Bruyette & Woods upped their price objective on shares of RenaissanceRe from $342.00 to $350.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Mizuho upped their price objective 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. Finally, Citigroup raised shares of RenaissanceRe from a “neutral” rating to a “buy” rating and increased their target price for the stock from $335.00 to $345.00 in a research note on Wednesday, June 10th. Five equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $336.33.

RenaissanceRe Price Performance

RenaissanceRe stock opened at $323.41 on Thursday. The company’s fifty day moving average price is $309.54 and its 200 day moving average price is $301.47. RenaissanceRe Holdings Ltd. has a 1 year low of $231.17 and a 1 year high of $335.97. The stock has a market capitalization of $13.44 billion, a P/E ratio of 5.55, a P/E/G ratio of 1.18 and a beta of 0.17. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.38 and a current ratio of 1.38.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Wednesday, July 22nd. The insurance provider reported $12.92 earnings per share for the quarter, topping analysts’ consensus estimates of $11.72 by $1.20. The company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.57 billion. RenaissanceRe had a net margin of 23.65% and a return on equity of 23.10%. During the same period in the prior year, the business posted $12.29 earnings per share. As a group, equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 41.94 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid 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 dividend yield of 0.5%. RenaissanceRe’s payout ratio 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.