Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

RenaissanceRe Holdings Ltd. (RNR): Insiders Aren’t Crazy About It

Page 1 of 2

RenaissanceRe Holdings Ltd. (NYSE:RNR) investors should pay attention to an increase in hedge fund interest lately.

RenaissanceRe Holdings Ltd. (NYSE:RNR)

If you’d ask most traders, hedge funds are perceived as slow, outdated investment vehicles of the past. While there are more than 8000 funds in operation today, we at Insider Monkey look at the top tier of this group, about 450 funds. It is widely believed that this group oversees most of all hedge funds’ total capital, and by paying attention to their top picks, we have unsheathed a number of investment strategies that have historically beaten Mr. Market. Our small-cap hedge fund strategy outperformed the S&P 500 index by 18 percentage points per annum for a decade in our back tests, and since we’ve began to sharing our picks with our subscribers at the end of August 2012, we have topped the S&P 500 index by 23.3 percentage points in 8 months (check out a sample of our picks).

Just as important, positive insider trading activity is another way to break down the marketplace. Obviously, there are lots of stimuli for an executive to downsize shares of his or her company, but only one, very clear reason why they would buy. Various empirical studies have demonstrated the market-beating potential of this tactic if “monkeys” know what to do (learn more here).

With all of this in mind, it’s important to take a glance at the key action regarding RenaissanceRe Holdings Ltd. (NYSE:RNR).

Hedge fund activity in RenaissanceRe Holdings Ltd. (NYSE:RNR)

At Q1’s end, a total of 16 of the hedge funds we track were long in this stock, a change of 33% from one quarter earlier. With the smart money’s positions undergoing their usual ebb and flow, there exists a few notable hedge fund managers who were boosting their stakes considerably.

Of the funds we track, SAC Capital Advisors, managed by Steven Cohen, holds the biggest position in RenaissanceRe Holdings Ltd. (NYSE:RNR). SAC Capital Advisors has a $126.9 million position in the stock, comprising 0.6% of its 13F portfolio. Sitting at the No. 2 spot is SAC Subsidiary of CR Intrinsic Investors, with a $43.4 million position; 1.5% of its 13F portfolio is allocated to the company. Other hedgies that are bullish include Clint Carlson’s Carlson Capital, Brian Ashford-Russell and Tim Woolley’s Polar Capital and Richard S. Pzena’s Pzena Investment Management.

Consequently, key money managers were breaking ground themselves. CR Intrinsic Investors, managed by SAC Subsidiary, assembled the biggest position in RenaissanceRe Holdings Ltd. (NYSE:RNR). CR Intrinsic Investors had 43.4 million invested in the company at the end of the quarter. Cliff Asness’s AQR Capital Management also made a $6.3 million investment in the stock during the quarter. The following funds were also among the new RNR investors: Anil Stevens and Glenn Shapiro’s Parameter Capital Management, D. E. Shaw’s D E Shaw, and Joel Greenblatt’s Gotham Asset Management.

How are insiders trading RenaissanceRe Holdings Ltd. (NYSE:RNR)?

Insider trading activity, especially when it’s bullish, is best served when the company in question has experienced transactions within the past six months. Over the latest 180-day time frame, RenaissanceRe Holdings Ltd. (NYSE:RNR) has experienced zero unique insiders purchasing, and 9 insider sales (see the details of insider trades here).

Let’s check out hedge fund and insider activity in other stocks similar to RenaissanceRe Holdings Ltd. (NYSE:RNR). These stocks are Markel Corporation (NYSE:MKL), White Mountains Insurance Group Ltd (NYSE:WTM), HCC Insurance Holdings, Inc. (NYSE:HCC), American Financial Group (NYSE:AFG), and Validus Holdings, Ltd. (NYSE:VR). This group of stocks are in the property & casualty insurance industry and their market caps are similar to RNR’s market cap.

Page 1 of 2

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!