SG Americas Securities LLC Has $178,000 Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

SG Americas Securities LLC cut its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 68.1% during the third quarter, Holdings Channel reports. The fund owned 652 shares of the insurance provider’s stock after selling 1,391 shares during the quarter. SG Americas Securities LLC’s holdings in RenaissanceRe were worth $178,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. EverSource Wealth Advisors LLC lifted its position in RenaissanceRe by 19.8% during the second quarter. EverSource Wealth Advisors LLC now owns 272 shares of the insurance provider’s stock worth $63,000 after acquiring an additional 45 shares during the last quarter. State of Alaska Department of Revenue raised its stake in RenaissanceRe by 0.9% in the 1st quarter. State of Alaska Department of Revenue now owns 5,714 shares of the insurance provider’s stock worth $1,342,000 after purchasing an additional 50 shares in the last quarter. Hilltop National Bank grew its position in shares of RenaissanceRe by 14.9% during the 2nd quarter. Hilltop National Bank now owns 400 shares of the insurance provider’s stock worth $89,000 after purchasing an additional 52 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of RenaissanceRe by 23.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 342 shares of the insurance provider’s stock valued at $76,000 after buying an additional 64 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of RenaissanceRe by 1.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,594 shares of the insurance provider’s stock valued at $1,550,000 after buying an additional 78 shares during the period. Institutional investors own 99.97% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on RNR shares. UBS Group reduced their target price on RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. StockNews.com cut RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday. Wells Fargo & Company lifted their target price on shares of RenaissanceRe from $280.00 to $314.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Barclays started coverage on RenaissanceRe in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $287.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their target price on shares of RenaissanceRe from $267.00 to $274.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $289.00.

RenaissanceRe Stock Down 0.4 %

RNR opened at $275.09 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38. RenaissanceRe Holdings Ltd. has a one year low of $188.24 and a one year high of $284.36. The firm has a market capitalization of $14.35 billion, a P/E ratio of 5.44, a price-to-earnings-growth ratio of 1.85 and a beta of 0.38. The company has a fifty day moving average price of $262.12 and a 200-day moving average price of $237.51.

RenaissanceRe (NYSE:RNR) last released its earnings results on Wednesday, July 24th. The insurance provider reported $12.41 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $2.93 billion. Equities research analysts expect that RenaissanceRe Holdings Ltd. will post 39.96 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a $0.39 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.57%. RenaissanceRe’s dividend payout ratio is 3.08%.

Insider Activity

In related news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $279.00, for a total transaction of $279,000.00. Following the sale, the executive vice president now owns 82,044 shares of the company’s stock, valued at $22,890,276. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other RenaissanceRe news, CFO Robert Qutub sold 2,500 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 73,915 shares of the company’s stock, valued at approximately $16,598,352.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $279.00, for a total value of $279,000.00. Following the sale, the executive vice president now directly owns 82,044 shares in the company, valued at approximately $22,890,276. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,500 shares of company stock worth $1,109,400 in the last quarter. 1.30% of the stock is owned by company insiders.

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.