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

GSA Capital Partners LLP purchased a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,131 shares of the insurance provider’s stock, valued at approximately $675,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Orbis Allan Gray Ltd bought a new stake in RenaissanceRe in the fourth quarter valued at approximately $178,519,000. Norges Bank acquired a new stake in RenaissanceRe in the 4th quarter worth about $168,582,000. Egerton Capital UK LLP acquired a new stake in shares of RenaissanceRe in the fourth quarter valued at approximately $137,944,000. GQG Partners LLC acquired a new position in RenaissanceRe in the 4th quarter valued at $108,780,000. Finally, M&T Bank Corp lifted its position in RenaissanceRe by 8,296.5% during the fourth quarter. M&T Bank Corp now owns 290,352 shares of the insurance provider’s stock worth $81,635,000 after purchasing an additional 286,894 shares during the period. 99.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on RNR shares. Mizuho upped their target price on RenaissanceRe from $325.00 to $329.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Weiss Ratings lowered shares of RenaissanceRe from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday. Barclays increased their price target on RenaissanceRe from $328.00 to $341.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 7th. Keefe, Bruyette & Woods increased 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. Finally, TD Cowen lifted their target price on RenaissanceRe from $300.00 to $315.00 and gave the stock a “hold” rating in a report on Tuesday, July 7th. Five equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, RenaissanceRe currently has a consensus rating of “Hold” and an average target price of $336.33.

Insider Transactions at RenaissanceRe

In other RenaissanceRe news, EVP Robert Qutub sold 5,000 shares of RenaissanceRe stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $333.03, for a total value of $1,665,150.00. Following the sale, the executive vice president 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.30% of the company’s stock.

RenaissanceRe Stock Down 0.9%

RNR stock opened at $317.79 on Thursday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $13.20 billion, a PE ratio of 5.45, a P/E/G ratio of 1.17 and a beta of 0.17. The stock’s 50 day moving average is $316.86 and its 200-day moving average is $304.71. RenaissanceRe Holdings Ltd. has a twelve month low of $231.17 and a twelve month high of $335.97.

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

RenaissanceRe Dividend Announcement

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

RenaissanceRe Company 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.