GAMMA Investing LLC Has $68,000 Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

GAMMA Investing LLC raised its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 52.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 289 shares of the insurance provider’s stock after acquiring an additional 100 shares during the quarter. GAMMA Investing LLC’s holdings in RenaissanceRe were worth $68,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC acquired a new stake in RenaissanceRe in the 1st quarter valued at about $553,000. CWM LLC boosted its stake in shares of RenaissanceRe by 8.7% during the 1st quarter. CWM LLC now owns 610 shares of the insurance provider’s stock worth $143,000 after acquiring an additional 49 shares during the period. Vanguard Group Inc. increased its holdings in shares of RenaissanceRe by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 5,565,691 shares of the insurance provider’s stock worth $1,090,875,000 after acquiring an additional 148,173 shares during the last quarter. Royal London Asset Management Ltd. raised its stake in RenaissanceRe by 38.3% in the 4th quarter. Royal London Asset Management Ltd. now owns 24,811 shares of the insurance provider’s stock valued at $4,863,000 after acquiring an additional 6,874 shares during the period. Finally, American International Group Inc. lifted its holdings in RenaissanceRe by 1,829.6% during the 4th quarter. American International Group Inc. now owns 1,393,546 shares of the insurance provider’s stock valued at $273,135,000 after purchasing an additional 1,321,325 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

RenaissanceRe Stock Down 0.7 %

NYSE RNR opened at $224.27 on Monday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.21. The company has a market cap of $11.86 billion, a price-to-earnings ratio of 4.96, a PEG ratio of 1.49 and a beta of 0.38. The company has a 50 day moving average of $223.88 and a 200-day moving average of $219.65. RenaissanceRe Holdings Ltd. has a 1-year low of $174.22 and a 1-year high of $239.42.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Tuesday, April 30th. The insurance provider reported $12.18 earnings per share for the quarter, beating the consensus estimate of $9.86 by $2.32. RenaissanceRe had a return on equity of 27.09% and a net margin of 24.79%. The firm had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same period in the previous year, the firm earned $8.16 EPS. The company’s quarterly revenue was up 41.3% compared to the same quarter last year. On average, equities research analysts expect that RenaissanceRe Holdings Ltd. will post 37.22 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.70%. The ex-dividend date is Friday, June 14th. RenaissanceRe’s dividend payout ratio is currently 3.45%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on RNR shares. Evercore ISI upped their price objective on shares of RenaissanceRe from $216.00 to $218.00 and gave the company an “underperform” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. increased their price target on shares of RenaissanceRe from $237.00 to $245.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $249.00.

About RenaissanceRe

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.