RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC lowered its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 22.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 285,750 shares of the insurance provider’s stock after selling 83,386 shares during the period. RenaissanceRe makes up approximately 1.2% of TimesSquare Capital Management LLC’s portfolio, making the stock its 22nd largest position. TimesSquare Capital Management LLC’s holdings in RenaissanceRe were worth $77,838,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC increased its stake in RenaissanceRe by 29.5% during the third quarter. V Square Quantitative Management LLC now owns 180 shares of the insurance provider’s stock worth $49,000 after acquiring an additional 41 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of RenaissanceRe by 19.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 272 shares of the insurance provider’s stock worth $63,000 after purchasing an additional 45 shares during the last quarter. First Citizens Bank & Trust Co. raised its holdings in RenaissanceRe by 4.6% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 1,073 shares of the insurance provider’s stock valued at $292,000 after buying an additional 47 shares during the period. Hilltop National Bank raised its holdings in RenaissanceRe by 14.9% in the 2nd quarter. Hilltop National Bank now owns 400 shares of the insurance provider’s stock valued at $89,000 after buying an additional 52 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in RenaissanceRe by 23.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 342 shares of the insurance provider’s stock valued at $76,000 after buying an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Insider Buying and Selling

In other news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $269.00, for a total transaction of $269,000.00. Following the sale, the executive vice president now owns 83,044 shares of the company’s stock, valued at approximately $22,338,836. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group boosted their price target on shares of RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Evercore ISI boosted their target price on RenaissanceRe from $229.00 to $246.00 and gave the company an “underperform” rating in a research report on Thursday. StockNews.com cut RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Citigroup lifted their price objective on RenaissanceRe from $262.00 to $298.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Finally, JPMorgan Chase & Co. increased their target price on RenaissanceRe from $274.00 to $280.00 and gave the stock a “neutral” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, RenaissanceRe presently has a consensus rating of “Hold” and a consensus target price of $291.30.

RenaissanceRe Price Performance

Shares of NYSE RNR opened at $268.12 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market cap of $13.98 billion, a price-to-earnings ratio of 3.86, a price-to-earnings-growth ratio of 1.82 and a beta of 0.39. The stock’s 50-day moving average is $267.63 and its two-hundred day moving average is $241.84. RenaissanceRe Holdings Ltd. has a 1-year low of $188.24 and a 1-year high of $300.00.

RenaissanceRe (NYSE:RNR) last released its earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share for the quarter, topping analysts’ consensus estimates of $7.89 by $2.34. RenaissanceRe had a net margin of 28.84% and a return on equity of 27.34%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the firm earned $8.33 earnings per share. The business’s quarterly revenue was up 52.1% compared to the same quarter last year. Analysts forecast that RenaissanceRe Holdings Ltd. will post 39.96 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.58%. RenaissanceRe’s dividend payout ratio (DPR) is currently 2.25%.

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.