Cinctive Capital Management LP Has $541,000 Stock Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Cinctive Capital Management LP trimmed its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 96.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,987 shares of the insurance provider's stock after selling 57,773 shares during the period. Cinctive Capital Management LP's holdings in RenaissanceRe were worth $541,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RNR. ORG Wealth Partners LLC acquired a new stake in RenaissanceRe in the third quarter worth $30,000. Blue Trust Inc. bought a new stake in shares of RenaissanceRe during the second quarter worth $27,000. UMB Bank n.a. increased its position in shares of RenaissanceRe by 316.7% during the third quarter. UMB Bank n.a. now owns 125 shares of the insurance provider's stock worth $34,000 after acquiring an additional 95 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in shares of RenaissanceRe during the second quarter worth $31,000. Finally, Advisors Asset Management Inc. bought a new stake in shares of RenaissanceRe during the third quarter worth $45,000. 99.97% of the stock is currently owned by institutional investors and hedge funds.

RenaissanceRe Stock Performance

RenaissanceRe stock traded down $2.44 during midday trading on Wednesday, hitting $284.50. The company's stock had a trading volume of 407,955 shares, compared to its average volume of 359,913. RenaissanceRe Holdings Ltd. has a 1-year low of $188.24 and a 1-year high of $300.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.43 and a quick ratio of 1.43. The company has a 50-day moving average price of $271.84 and a two-hundred day moving average price of $247.90. The company has a market cap of $14.78 billion, a price-to-earnings ratio of 4.02, a PEG ratio of 1.40 and a beta of 0.41.

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

RenaissanceRe Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Friday, December 13th. RenaissanceRe's payout ratio is presently 2.25%.

Insider Activity at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the business's stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $279.00, for a total transaction of $279,000.00. Following the sale, the executive vice president now directly owns 82,044 shares of the company's stock, valued at $22,890,276. The trade was a 1.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Bank of America increased their price objective on shares of RenaissanceRe from $364.00 to $391.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Evercore ISI increased their price objective on shares of RenaissanceRe from $229.00 to $246.00 and gave the stock an "underperform" rating in a research report on Thursday, November 7th. Citigroup raised their target price on shares of RenaissanceRe from $262.00 to $298.00 and gave the company a "buy" rating in a research report on Tuesday, September 10th. Jefferies Financial Group raised their target price on shares of RenaissanceRe from $270.00 to $314.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company raised their target price on shares of RenaissanceRe from $280.00 to $314.00 and gave the company an "overweight" rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $293.00.

RenaissanceRe Company 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.