RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Captrust Financial Advisors

Captrust Financial Advisors lowered its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 29.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,072 shares of the insurance provider's stock after selling 2,529 shares during the quarter. Captrust Financial Advisors' holdings in RenaissanceRe were worth $1,654,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Impax Asset Management Group plc increased its stake in RenaissanceRe by 32.4% during the 3rd quarter. Impax Asset Management Group plc now owns 1,697,636 shares of the insurance provider's stock worth $461,679,000 after buying an additional 415,366 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of RenaissanceRe by 21.3% during the second quarter. Dimensional Fund Advisors LP now owns 624,469 shares of the insurance provider's stock worth $139,579,000 after buying an additional 109,851 shares in the last quarter. Cooke & Bieler LP raised its position in shares of RenaissanceRe by 9.2% in the second quarter. Cooke & Bieler LP now owns 1,027,601 shares of the insurance provider's stock valued at $229,679,000 after buying an additional 86,562 shares during the last quarter. Northwest & Ethical Investments L.P. purchased a new position in shares of RenaissanceRe in the third quarter worth about $17,086,000. Finally, Assetmark Inc. boosted its position in RenaissanceRe by 115.3% during the third quarter. Assetmark Inc. now owns 81,006 shares of the insurance provider's stock worth $22,066,000 after acquiring an additional 43,384 shares during the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP David E. Marra sold 1,000 shares of the business'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 completion of the transaction, the executive vice president now directly owns 83,044 shares of the company's stock, valued at approximately $22,338,836. The trade was a 1.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by insiders.

RenaissanceRe Trading Down 2.6 %

NYSE RNR traded down $7.40 on Friday, reaching $279.66. The stock had a trading volume of 418,371 shares, compared to its average volume of 497,231. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.18. The stock has a fifty day moving average price of $272.82 and a two-hundred day moving average price of $248.79. RenaissanceRe Holdings Ltd. has a 12-month low of $188.24 and a 12-month high of $300.00. The firm has a market capitalization of $14.53 billion, a price-to-earnings ratio of 4.03, a P/E/G ratio of 1.39 and a beta of 0.41.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted its earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.89 by $2.34. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.35 billion. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. RenaissanceRe's revenue was up 52.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.33 EPS. As a group, sell-side analysts forecast that RenaissanceRe Holdings Ltd. will post 41.94 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Friday, December 13th. RenaissanceRe's dividend payout ratio (DPR) is currently 2.25%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on RNR shares. Wells Fargo & Company raised their target price on shares of RenaissanceRe from $280.00 to $314.00 and gave the stock an "overweight" rating in a research note on Thursday, October 10th. Evercore ISI lifted their price objective on RenaissanceRe from $229.00 to $246.00 and gave the stock an "underperform" rating in a research report on Thursday, November 7th. Bank of America raised their target price on RenaissanceRe from $364.00 to $391.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods cut their price objective on shares of RenaissanceRe from $316.00 to $310.00 and set an "outperform" rating for the company in a research report on Tuesday, November 12th. Finally, Jefferies Financial Group lifted their target price on shares of RenaissanceRe from $270.00 to $314.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $293.00.

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.