PEAK6 Investments LLC Has $2.54 Million Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

PEAK6 Investments LLC increased its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 100.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,826 shares of the insurance provider’s stock after buying an additional 5,436 shares during the period. PEAK6 Investments LLC’s holdings in RenaissanceRe were worth $2,544,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fiera Capital Corp raised its position in shares of RenaissanceRe by 637.3% in the fourth quarter. Fiera Capital Corp now owns 199,166 shares of the insurance provider’s stock valued at $39,037,000 after buying an additional 172,154 shares in the last quarter. Principal Financial Group Inc. raised its position in RenaissanceRe by 2.0% during the fourth quarter. Principal Financial Group Inc. now owns 193,146 shares of the insurance provider’s stock valued at $37,857,000 after purchasing an additional 3,797 shares in the last quarter. Retirement Systems of Alabama lifted its stake in RenaissanceRe by 7.2% during the fourth quarter. Retirement Systems of Alabama now owns 125,847 shares of the insurance provider’s stock worth $24,666,000 after purchasing an additional 8,441 shares during the last quarter. Royal London Asset Management Ltd. lifted its stake in RenaissanceRe by 38.3% during the fourth quarter. Royal London Asset Management Ltd. now owns 24,811 shares of the insurance provider’s stock worth $4,863,000 after purchasing an additional 6,874 shares during the last quarter. Finally, American International Group Inc. lifted its stake in RenaissanceRe by 1,829.6% during the fourth quarter. American International Group Inc. now owns 1,393,546 shares of the insurance provider’s stock worth $273,135,000 after purchasing an additional 1,321,325 shares during the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $230.00, for a total value of $230,000.00. Following the transaction, the executive vice president now owns 85,544 shares of the company’s stock, valued at approximately $19,675,120. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on RNR shares. Bank of America upped their target price on RenaissanceRe from $334.00 to $347.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Morgan Stanley cut their target price on RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Wells Fargo & Company cut their target price on RenaissanceRe from $288.00 to $280.00 and set an “overweight” rating for the company in a research note on Friday. JPMorgan Chase & Co. increased their price target on RenaissanceRe from $265.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Evercore ISI increased their price target on RenaissanceRe from $216.00 to $218.00 and gave the company an “underperform” rating in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $263.40.

RenaissanceRe Stock Up 2.2 %

Shares of RNR stock traded up $4.91 on Friday, reaching $224.50. 399,550 shares of the company were exchanged, compared to its average volume of 366,338. The company has a market cap of $11.87 billion, a price-to-earnings ratio of 4.96, a PEG ratio of 1.61 and a beta of 0.38. The company has a 50-day moving average of $223.97 and a 200-day moving average of $223.64. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.41. RenaissanceRe Holdings Ltd. has a one year low of $174.22 and a one year high of $239.42.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings data on Tuesday, April 30th. The insurance provider reported $12.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.86 by $2.32. The company had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.05 billion. RenaissanceRe had a net margin of 25.38% and a return on equity of 27.74%. The business’s revenue was up 41.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.16 EPS. Analysts anticipate that RenaissanceRe Holdings Ltd. will post 37.43 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a $0.39 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.56 annualized dividend and a yield of 0.69%. RenaissanceRe’s payout ratio is 3.45%.

RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd., together with its subsidiaries, provides reinsurance and insurance products in the United States and internationally. The company operates through Property, and 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, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, binding facilities, and regional U.S.