V Square Quantitative Management LLC Acquires 41 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

V Square Quantitative Management LLC grew its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 29.5% during the third quarter, Holdings Channel reports. The firm owned 180 shares of the insurance provider’s stock after purchasing an additional 41 shares during the period. V Square Quantitative Management LLC’s holdings in RenaissanceRe were worth $49,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Riverview Trust Co acquired a new position in RenaissanceRe during the first quarter worth $26,000. Blue Trust Inc. acquired a new position in shares of RenaissanceRe during the 2nd quarter valued at about $27,000. ORG Wealth Partners LLC bought a new position in shares of RenaissanceRe in the 3rd quarter valued at approximately $30,000. Mather Group LLC. acquired a new stake in RenaissanceRe in the 1st quarter worth approximately $34,000. Finally, UMB Bank n.a. boosted its position in RenaissanceRe by 316.7% during the third quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 95 shares during the period. Institutional investors and hedge funds own 99.97% of the company’s stock.

Insider Activity

In related news, CFO Robert Qutub sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $224.56, for a total transaction of $561,400.00. Following the completion of the transaction, the chief financial officer now owns 73,915 shares in the company, valued at $16,598,352.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other RenaissanceRe news, CFO Robert Qutub sold 2,500 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $224.56, for a total transaction of $561,400.00. Following the completion of the transaction, the chief financial officer now directly owns 73,915 shares in the company, valued at $16,598,352.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $279.00, for a total transaction of $279,000.00. Following the completion of the sale, the executive vice president now owns 82,044 shares in the company, valued at $22,890,276. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,500 shares of company stock worth $1,109,400. Company insiders own 1.30% of the company’s stock.

RenaissanceRe Stock Performance

RNR opened at $282.60 on Monday. The stock has a market cap of $14.94 billion, a PE ratio of 6.24, a P/E/G ratio of 1.83 and a beta of 0.38. RenaissanceRe Holdings Ltd. has a 1 year low of $188.24 and a 1 year high of $283.86. The stock’s 50 day simple moving average is $260.37 and its 200-day simple moving average is $236.71. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Wednesday, July 24th. The insurance provider reported $12.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.88 by $1.53. RenaissanceRe had a net margin of 25.38% and a return on equity of 27.74%. The company had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Sell-side analysts forecast that RenaissanceRe Holdings Ltd. will post 39.84 EPS for the current year.

RenaissanceRe Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Friday, September 13th. RenaissanceRe’s payout ratio is 3.45%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RNR. Citigroup boosted their price objective on shares of RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Evercore ISI upped their price target on shares of RenaissanceRe from $218.00 to $229.00 and gave the company an “underperform” rating in a report on Wednesday, October 9th. Jefferies Financial Group raised their price target on RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Wells Fargo & Company boosted their price objective on RenaissanceRe from $280.00 to $314.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, StockNews.com raised RenaissanceRe from a “hold” rating to a “buy” rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $289.00.

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.