Susquehanna Fundamental Investments LLC Buys Shares of 48,122 RenaissanceRe Holdings Ltd. (NYSE:RNR)

Susquehanna Fundamental Investments LLC purchased a new position in RenaissanceRe Holdings Ltd. (NYSE:RNR) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 48,122 shares of the insurance provider’s stock, valued at approximately $11,973,000.

A number of other hedge funds have also modified their holdings of the stock. Barclays PLC increased its position in RenaissanceRe by 57.1% in the 3rd quarter. Barclays PLC now owns 22,923 shares of the insurance provider’s stock worth $6,244,000 after purchasing an additional 8,333 shares during the last quarter. World Investment Advisors LLC bought a new stake in shares of RenaissanceRe in the 3rd quarter valued at approximately $16,176,000. Wilmington Savings Fund Society FSB acquired a new position in RenaissanceRe in the third quarter worth approximately $405,000. Tidal Investments LLC lifted its stake in RenaissanceRe by 2.6% in the third quarter. Tidal Investments LLC now owns 9,236 shares of the insurance provider’s stock valued at $2,516,000 after acquiring an additional 232 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in RenaissanceRe by 22.9% in the fourth quarter. GAMMA Investing LLC now owns 1,179 shares of the insurance provider’s stock worth $293,000 after acquiring an additional 220 shares in the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

RenaissanceRe Stock Performance

Shares of NYSE RNR opened at $235.02 on Friday. RenaissanceRe Holdings Ltd. has a 12 month low of $208.98 and a 12 month high of $300.00. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.19. The company has a market cap of $11.52 billion, a P/E ratio of 6.71, a P/E/G ratio of 2.09 and a beta of 0.29. The business’s 50 day moving average is $237.66 and its two-hundred day moving average is $252.19.

RenaissanceRe (NYSE:RNR) last announced its earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($1.17). RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. The company had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.36 billion. On average, equities analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.40 per share. The ex-dividend date was Friday, March 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.68%. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s dividend payout ratio is currently 5.10%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on RNR shares. Wells Fargo & Company cut their price target on shares of RenaissanceRe from $277.00 to $271.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. JMP Securities reaffirmed a “market perform” rating on shares of RenaissanceRe in a research report on Thursday. Bank of America lowered their price objective on RenaissanceRe from $437.00 to $426.00 and set a “buy” rating on the stock in a report on Wednesday, March 26th. Keefe, Bruyette & Woods reduced their target price on RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a report on Tuesday, February 4th. Finally, Barclays lowered their price target on RenaissanceRe from $234.00 to $231.00 and set an “underweight” rating on the stock in a report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $283.80.

RenaissanceRe 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.