Quadrature Capital Ltd invests $810,000 in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Quadrature Capital Ltd purchased a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNR – Free Report) in the 1st quarter, according to the fund’s most recent filing with the Securities & Exchange Commission. The fund bought 3,448 shares of the insurance company’s stock, valued at about $810,000.

Other large investors have also added to or reduced their stakes in the company. Riverview Trust Co acquired a new position in shares of RenaissanceRe during the 1st quarter worth approximately $26,000. Rise Advisors LLC acquired a new position in RenaissanceRe during the 1st quarter worth approximately $31,000. Mather Group LLC. purchased a new stake in RenaissanceRe during the 1st quarter worth approximately $34,000. GAMMA Investing LLC acquired a new stake in shares of RenaissanceRe during the 4th quarter worth approximately $37,000. Finally, EntryPoint Capital LLC purchased a new position in shares of RenaissanceRe during the 1st quarter worth approximately $46,000. Institutional investors and hedge funds own 99.97% of the company’s shares.

Wall Street analysts weigh in

Several analysts have recently weighed in on the company. Wells Fargo & Company lowered their price target on shares of RenaissanceRe from $288.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday. UBS Group lowered their price target on shares of RenaissanceRe from $251.00 to $248.00 and gave the stock a “neutral” rating in a report on Tuesday, July 9th. JPMorgan Chase & Co. increased their price target on shares of RenaissanceRe from $265.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday. Evercore ISI increased their price target on shares of RenaissanceRe from $216.00 to $218.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 1st. Finally, Bank of America raised their price target on shares of RenaissanceRe from $334.00 to $347.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “hold” and a consensus price target of $263.40.

View our latest stock analysis on RenaissanceRe

RenaissanceRe Price Performance

RNR opened at $224.50 on Monday. RenaissanceRe Holdings Ltd. has a one-year low of $174.22 and a one-year high of $239.42. The company’s fifty day moving average price is $223.97 and its two-hundred day moving average price is $223.80. 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 company has a market cap of $11.87 billion, a price-to-earnings ratio of 4.96, a P/E/G ratio of 1.26 and a beta of 0.38.

RenaissanceRe (NYSE:RNR – Get Free Report) last released its quarterly earnings results on Tuesday, April 30. The insurance company reported $12.18 EPS for the quarter, which topped analysts’ consensus estimates of $9.86 by $2.32. RenaissanceRe had a return on equity of 27.74% and a net margin of 25.38%. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.05 billion. In the year-ago period, the company posted earnings per share of $8.16. RenaissanceRe’s quarterly revenue increased 41.3% compared to the same quarter last year. As a group, analysts expect RenaissanceRe Holdings Ltd. to post earnings per share of 37.43 for the current fiscal year.

RenaissanceRe announces dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $0.39 per share. The ex-dividend date for this dividend was Friday, June 14th. This represents an annualized dividend of $1.56 and a yield of 0.69%. RenaissanceRe’s dividend payout ratio (DPR) is currently 3.45%.

Insiders place their bets

In related news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction that occurred on Wednesday, July 17. The shares were sold at an average price of $230.00, for a total value of $230,000.00. Following the sale, the executive vice president now owns 85,544 shares of the company’s stock, valued at approximately $19,675,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Insiders own 1.30% of the company’s shares.

About RenaissanceRe

(Free Report)

RenaissanceRe Holdings Ltd., together with its subsidiaries, provides reinsurance and insurance products in the United States and internationally. The Company operates through its Property, Casualty and Specialty segments. The Property segment writes property catastrophe excess of loss reinsurance and excess of loss reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons and tsunamis, as well as winter storms, freezing weather, floods, fires, windstorms, tornadoes, explosions and terrorist attacks; and other property product classes such as proportional reinsurance, property per risk, property reinsurance, binding facilities and regional U.S.

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