RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Jennison Associates LLC

Jennison Associates LLC cut its position in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 15.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 391,531 shares of the insurance provider's stock after selling 74,084 shares during the quarter. Jennison Associates LLC owned approximately 0.75% of RenaissanceRe worth $106,653,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Impax Asset Management Group plc increased its stake in RenaissanceRe by 32.4% in the third quarter. Impax Asset Management Group plc now owns 1,697,636 shares of the insurance provider's stock valued at $461,679,000 after purchasing an additional 415,366 shares during the period. Cooke & Bieler LP grew its holdings 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 during the last quarter. Dimensional Fund Advisors LP increased its position in 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 acquiring an additional 109,851 shares during the period. Earnest Partners LLC raised its stake in RenaissanceRe by 6.1% during the 1st quarter. Earnest Partners LLC now owns 578,139 shares of the insurance provider's stock valued at $135,880,000 after acquiring an additional 33,448 shares during the last quarter. Finally, Great Lakes Advisors LLC lifted its position in RenaissanceRe by 3.1% during the 2nd quarter. Great Lakes Advisors LLC now owns 254,965 shares of the insurance provider's stock worth $56,987,000 after acquiring an additional 7,718 shares during the period. Hedge funds and other institutional investors own 99.97% of the company's stock.

RenaissanceRe Trading Up 0.1 %

Shares of RenaissanceRe stock opened at $264.49 on Thursday. The company has a 50-day moving average of $268.38 and a two-hundred day moving average of $244.22. The stock has a market cap of $13.74 billion, a PE ratio of 3.81, a price-to-earnings-growth ratio of 1.33 and a beta of 0.39. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.18. RenaissanceRe Holdings Ltd. has a 12-month low of $188.24 and a 12-month high of $300.00.

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 (EPS) for the quarter, topping the consensus estimate of $7.89 by $2.34. The firm had revenue of $2.16 billion during the quarter, compared to analysts' expectations 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 period in the previous year, the firm posted $8.33 earnings per share. On average, research analysts anticipate that RenaissanceRe Holdings Ltd. will post 40.57 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

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 paid a $0.39 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.59%. RenaissanceRe's payout ratio is 2.25%.

Insider Activity at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the company's stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $279.00, for a total value of $279,000.00. Following the sale, the executive vice president now owns 82,044 shares of the company's stock, valued at approximately $22,890,276. This represents a 1.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on RNR shares. JPMorgan Chase & Co. boosted their target price on RenaissanceRe from $274.00 to $280.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Bank of America boosted their price objective on shares of RenaissanceRe from $364.00 to $391.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Barclays began 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. Finally, StockNews.com cut shares of RenaissanceRe from a "buy" rating to a "hold" rating in a report on Tuesday, October 22nd. One investment 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 has a consensus rating of "Hold" and an average price target 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.