Trexquant Investment LP Buys Shares of 7,207 RenaissanceRe Holdings Ltd. (RNR)

Trexquant Investment LP bought a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) in the 3rd quarter, HoldingsChannel reports. The firm bought 7,207 shares of the insurance provider’s stock, valued at approximately $963,000.

Other institutional investors have also added to or reduced their stakes in the company. United Services Automobile Association lifted its stake in RenaissanceRe by 1,567.9% during the second quarter. United Services Automobile Association now owns 107,078 shares of the insurance provider’s stock worth $7,131,000 after purchasing an additional 100,658 shares during the last quarter. Putnam Investments LLC bought a new position in RenaissanceRe during the second quarter worth $3,729,000. BlueMountain Capital Management LLC lifted its stake in RenaissanceRe by 1,331.5% during the second quarter. BlueMountain Capital Management LLC now owns 1,274 shares of the insurance provider’s stock worth $153,000 after purchasing an additional 1,185 shares during the last quarter. Korea Investment CORP bought a new position in RenaissanceRe during the second quarter worth $168,000. Finally, ING Groep NV bought a new position in RenaissanceRe during the second quarter worth $742,000. Institutional investors own 95.89% of the company’s stock.

RNR stock opened at $132.61 on Friday. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $5.27 billion, a price-to-earnings ratio of -15.88, a P/E/G ratio of 1.32 and a beta of 0.65. RenaissanceRe Holdings Ltd. has a 1 year low of $116.50 and a 1 year high of $142.56.

RenaissanceRe (NYSE:RNR) last posted its earnings results on Tuesday, October 30th. The insurance provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.42. The company had revenue of $453.30 million for the quarter, compared to analysts’ expectations of $416.49 million. RenaissanceRe had a return on equity of 10.52% and a net margin of 15.07%. The firm’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period last year, the business posted ($13.81) earnings per share. As a group, analysts predict that RenaissanceRe Holdings Ltd. will post 9.94 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 14th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Thursday, December 13th. RenaissanceRe’s payout ratio is -15.81%.

Several equities analysts recently issued reports on RNR shares. Citigroup reduced their price objective on RenaissanceRe from $161.00 to $153.00 and set a “buy” rating on the stock in a research note on Monday, October 22nd. Wells Fargo & Co set a $130.00 price objective on RenaissanceRe and gave the stock a “hold” rating in a research note on Wednesday, October 31st. Zacks Investment Research cut RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Monday, October 15th. Buckingham Research raised their price objective on RenaissanceRe from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, October 3rd. Finally, Deutsche Bank upgraded RenaissanceRe from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a research note on Wednesday, November 7th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $142.86.

In other RenaissanceRe news, Director Henry Klehm III sold 810 shares of the firm’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $128.00, for a total value of $103,680.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.50% of the company’s stock.

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RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd., together with its subsidiaries, provides reinsurance and insurance coverages in the United States and internationally. Its Property segment writes property catastrophe excess of loss reinsurance and excess of loss retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, such as earthquakes, hurricanes, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, including proportional reinsurance, property per risk, property reinsurance, and binding facilities and regional U.S.

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Institutional Ownership by Quarter for RenaissanceRe (NYSE:RNR)

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