Holocene Advisors LP Has $936,000 Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Holocene Advisors LP cut its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 96.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,437 shares of the insurance provider's stock after selling 82,021 shares during the quarter. Holocene Advisors LP's holdings in RenaissanceRe were worth $936,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RNR. Impax Asset Management Group plc boosted its holdings 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 valued at $461,679,000 after acquiring an additional 415,366 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of RenaissanceRe by 21.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 624,469 shares of the insurance provider's stock valued at $139,579,000 after buying an additional 109,851 shares during the period. Cooke & Bieler LP grew its position in shares of RenaissanceRe by 9.2% during the second quarter. Cooke & Bieler LP now owns 1,027,601 shares of the insurance provider's stock worth $229,679,000 after buying an additional 86,562 shares in the last quarter. Northwest & Ethical Investments L.P. purchased a new stake in shares of RenaissanceRe during the 3rd quarter worth $17,086,000. Finally, Assetmark Inc. grew its stake in shares of 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 purchasing an additional 43,384 shares in the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Barclays started coverage on shares of RenaissanceRe in a research report on Wednesday, September 4th. They set an "equal weight" rating and a $287.00 price objective for the company. Evercore ISI lifted their target price on shares of RenaissanceRe from $229.00 to $246.00 and gave the company an "underperform" rating in a report on Thursday, November 7th. Citigroup increased their price objective on RenaissanceRe from $262.00 to $298.00 and gave the stock a "buy" rating in a research report on Tuesday, September 10th. JPMorgan Chase & Co. raised their price objective on shares of RenaissanceRe from $274.00 to $280.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods cut their target price on RenaissanceRe from $316.00 to $310.00 and set an "outperform" rating for the company in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, RenaissanceRe presently has a consensus rating of "Hold" and a consensus price target of $293.00.

RenaissanceRe Stock Performance

NYSE RNR traded down $7.40 during trading hours on Friday, reaching $279.66. The company's stock had a trading volume of 418,371 shares, compared to its average volume of 497,231. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.18. The business has a 50-day simple moving average of $272.82 and a 200 day simple moving average of $248.91. RenaissanceRe Holdings Ltd. has a 52 week low of $188.24 and a 52 week high of $300.00. The stock has a market cap of $14.53 billion, a PE ratio of 4.03, a PEG 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, beating analysts' consensus estimates of $7.89 by $2.34. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. The company had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.35 billion. During the same period last year, the business posted $8.33 earnings per share. The firm's quarterly revenue was up 52.1% compared to the same quarter last year. Equities research analysts predict that RenaissanceRe Holdings Ltd. will post 41.94 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.56%. The ex-dividend date is Friday, December 13th. RenaissanceRe's payout ratio is 2.25%.

Insider Buying and Selling

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $279.00, for a total transaction of $279,000.00. Following the completion of the transaction, the executive vice president now directly owns 82,044 shares in the company, valued at $22,890,276. This represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is currently owned by corporate insiders.

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.