SG Americas Securities LLC Sells 13,759 Shares of RenaissanceRe Holdings Ltd. $RNR

SG Americas Securities LLC cut its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 69.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,970 shares of the insurance provider’s stock after selling 13,759 shares during the period. SG Americas Securities LLC’s holdings in RenaissanceRe were worth $1,774,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Hsbc Holdings PLC grew its stake in shares of RenaissanceRe by 3,272.6% in the fourth quarter. Hsbc Holdings PLC now owns 28,195 shares of the insurance provider’s stock worth $7,968,000 after purchasing an additional 27,359 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in RenaissanceRe by 64.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,989 shares of the insurance provider’s stock worth $559,000 after buying an additional 782 shares during the period. World Investment Advisors acquired a new position in RenaissanceRe during the 4th quarter worth about $224,000. Corient Private Wealth LLC grew its position in shares of RenaissanceRe by 36.2% in the 4th quarter. Corient Private Wealth LLC now owns 11,630 shares of the insurance provider’s stock valued at $3,270,000 after buying an additional 3,091 shares during the last quarter. Finally, Rehmann Capital Advisory Group grew its position in shares of RenaissanceRe by 22.5% in the 4th quarter. Rehmann Capital Advisory Group now owns 1,729 shares of the insurance provider’s stock valued at $488,000 after buying an additional 318 shares during the last quarter. 99.97% of the stock is owned by institutional investors.

RenaissanceRe Stock Up 3.1%

Shares of RenaissanceRe stock opened at $326.55 on Friday. The stock’s 50-day moving average is $299.49 and its 200 day moving average is $293.92. RenaissanceRe Holdings Ltd. has a one year low of $231.17 and a one year high of $328.39. The firm has a market cap of $13.92 billion, a price-to-earnings ratio of 5.44, a PEG ratio of 1.19 and a beta of 0.17. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.37.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Tuesday, March 31st. The insurance provider reported $13.75 earnings per share for the quarter. RenaissanceRe had a return on equity of 24.01% and a net margin of 24.25%.The business had revenue of $2.19 billion during the quarter. Equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 40.05 EPS for the current year.

RenaissanceRe Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $0.41 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.64 annualized dividend and a dividend yield of 0.5%. RenaissanceRe’s payout ratio is currently 2.73%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on RNR shares. Citigroup upgraded RenaissanceRe from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $335.00 to $345.00 in a research report on Wednesday, June 10th. Mizuho set a $325.00 target price on shares of RenaissanceRe in a research report on Monday, May 4th. Barclays lowered their price target on shares of RenaissanceRe from $341.00 to $328.00 and set an “equal weight” rating for the company in a report on Wednesday, April 29th. Cantor Fitzgerald upgraded shares of RenaissanceRe from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $306.00 to $340.00 in a research report on Thursday, April 9th. Finally, UBS Group upped their price objective on shares of RenaissanceRe from $319.00 to $326.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Five analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $323.64.

About RenaissanceRe

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.