Versor Investments LP Buys New Shares in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Versor Investments LP purchased a new stake in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 3,743 shares of the insurance provider's stock, valued at approximately $931,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Creative Planning increased its position in shares of RenaissanceRe by 71.8% during the third quarter. Creative Planning now owns 2,383 shares of the insurance provider's stock valued at $649,000 after buying an additional 996 shares during the period. Raymond James & Associates grew its holdings in shares of RenaissanceRe by 59.3% during the 3rd quarter. Raymond James & Associates now owns 26,968 shares of the insurance provider's stock worth $7,346,000 after acquiring an additional 10,039 shares during the period. Private Advisor Group LLC raised its position in shares of RenaissanceRe by 63.4% in the 3rd quarter. Private Advisor Group LLC now owns 2,553 shares of the insurance provider's stock worth $695,000 after acquiring an additional 991 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of RenaissanceRe by 1.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 6,757 shares of the insurance provider's stock valued at $1,841,000 after purchasing an additional 76 shares during the period. Finally, State of Alaska Department of Revenue grew its stake in RenaissanceRe by 6.0% in the third quarter. State of Alaska Department of Revenue now owns 6,059 shares of the insurance provider's stock worth $1,650,000 after purchasing an additional 345 shares during the period. 99.97% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the company's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total transaction of $254,160.00. Following the completion of the sale, the executive vice president now owns 79,392 shares of the company's stock, valued at $20,178,270.72. This represents a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

RNR has been the topic of a number of research reports. Jefferies Financial Group restated a "hold" rating and set a $282.00 target price (down previously from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. JMP Securities restated a "market perform" rating on shares of RenaissanceRe in a report on Thursday, January 30th. Wells Fargo & Company lowered their target price on shares of RenaissanceRe from $288.00 to $277.00 and set an "overweight" rating for the company in a report on Thursday, January 30th. Barclays downgraded RenaissanceRe from an "equal weight" rating to an "underweight" rating and cut their price target for the stock from $284.00 to $234.00 in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods lowered their price objective on RenaissanceRe from $318.00 to $294.00 and set an "outperform" rating for the company in a research note on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, RenaissanceRe currently has a consensus rating of "Hold" and an average price target of $279.90.

RenaissanceRe Stock Performance

NYSE RNR traded up $3.29 during trading hours on Monday, hitting $240.91. The company's stock had a trading volume of 443,952 shares, compared to its average volume of 530,246. RenaissanceRe Holdings Ltd. has a 12 month low of $208.98 and a 12 month high of $300.00. The company's 50 day simple moving average is $244.00 and its two-hundred day simple moving average is $258.08. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42. The company has a market cap of $11.87 billion, a P/E ratio of 6.88, a price-to-earnings-growth ratio of 2.09 and a beta of 0.43.

RenaissanceRe (NYSE:RNR - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share for the quarter, beating the consensus estimate of $6.94 by $1.12. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. As a group, sell-side analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.40 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.60 annualized dividend and a dividend yield of 0.66%. This is a positive change from RenaissanceRe's previous quarterly dividend of $0.39. RenaissanceRe's payout ratio is presently 4.57%.

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.