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

TimesSquare Capital Management LLC decreased its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 22.6% during the third quarter, according to its most recent disclosure with the 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 investment portfolio, making the stock its 22nd largest holding. TimesSquare Capital Management LLC owned 0.55% of RenaissanceRe worth $77,838,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Blue Trust Inc. acquired a new stake in shares of RenaissanceRe in the second quarter valued at approximately $27,000. ORG Wealth Partners LLC acquired a new position in RenaissanceRe in the 3rd quarter valued at about $30,000. V Square Quantitative Management LLC acquired a new stake in shares of RenaissanceRe in the 2nd quarter valued at approximately $31,000. UMB Bank n.a. increased its holdings in RenaissanceRe by 316.7% in the third quarter. UMB Bank n.a. now owns 125 shares of the insurance provider's stock valued at $34,000 after buying an additional 95 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in RenaissanceRe during the 1st quarter valued at $46,000. Institutional investors and hedge funds own 99.97% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on RNR shares. Barclays began coverage on RenaissanceRe in a report on Wednesday, September 4th. They set an "equal weight" rating and a $287.00 target price on the stock. Citigroup upped their target price on RenaissanceRe from $262.00 to $298.00 and gave the company a "buy" rating in a report on Tuesday, September 10th. Bank of America upped their target price on RenaissanceRe from $364.00 to $391.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. raised their price objective on RenaissanceRe from $274.00 to $280.00 and gave the stock a "neutral" rating in a research report on Thursday. Finally, Jefferies Financial Group lifted their target price on RenaissanceRe from $270.00 to $314.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $291.30.

RenaissanceRe Price Performance

Shares of RNR stock traded up $2.31 on Friday, hitting $268.12. 746,122 shares of the stock traded hands, compared to its average volume of 424,605. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.43 and a quick ratio of 1.38. The firm has a market cap of $13.99 billion, a price-to-earnings ratio of 3.86, a PEG ratio of 1.75 and a beta of 0.39. The firm has a 50 day simple moving average of $267.63 and a two-hundred day simple moving average of $241.84. RenaissanceRe Holdings Ltd. has a 52 week low of $188.24 and a 52 week high of $300.00.

RenaissanceRe (NYSE:RNR - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.89 by $2.34. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The company had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.35 billion. During the same period in the previous year, the company earned $8.33 EPS. The firm's quarterly revenue was up 52.1% on a year-over-year basis. As a group, equities research analysts predict that RenaissanceRe Holdings Ltd. will post 40.75 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.58%. RenaissanceRe's payout ratio is 2.25%.

Insider Transactions at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the stock in a transaction 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 completion of the sale, the executive vice president now owns 82,044 shares in the company, valued at $22,890,276. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.30% of the company's stock.

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.