TimesSquare Capital Management LLC Sells 73,145 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

TimesSquare Capital Management LLC decreased its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 25.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 212,605 shares of the insurance provider's stock after selling 73,145 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.41% of RenaissanceRe worth $52,898,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Rockefeller Capital Management L.P. acquired a new position in RenaissanceRe during the 3rd quarter worth $3,684,000. Fisher Asset Management LLC lifted its holdings in RenaissanceRe by 12.3% during the 3rd quarter. Fisher Asset Management LLC now owns 80,773 shares of the insurance provider's stock worth $22,003,000 after buying an additional 8,844 shares in the last quarter. Geode Capital Management LLC lifted its holdings in RenaissanceRe by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 920,814 shares of the insurance provider's stock worth $250,892,000 after buying an additional 25,773 shares in the last quarter. Citigroup Inc. raised its position in shares of RenaissanceRe by 367.4% during the 3rd quarter. Citigroup Inc. now owns 30,476 shares of the insurance provider's stock valued at $8,302,000 after acquiring an additional 23,956 shares during the last quarter. Finally, HighTower Advisors LLC lifted its stake in shares of RenaissanceRe by 47.8% in the 3rd quarter. HighTower Advisors LLC now owns 12,224 shares of the insurance provider's stock valued at $3,342,000 after purchasing an additional 3,954 shares during the period. Institutional investors and hedge funds own 99.97% of the company's stock.

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RenaissanceRe Stock Down 1.0 %

RenaissanceRe stock traded down $2.39 during midday trading on Friday, reaching $226.53. The stock had a trading volume of 578,204 shares, compared to its average volume of 540,426. The firm's fifty day simple moving average is $245.82 and its 200-day simple moving average is $257.72. RenaissanceRe Holdings Ltd. has a 1-year low of $208.98 and a 1-year high of $300.00. The stock has a market capitalization of $11.16 billion, a P/E ratio of 6.47, a price-to-earnings-growth ratio of 2.09 and a beta of 0.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced its earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.94 by $1.12. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. As a group, analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.71%. This is an increase from RenaissanceRe's previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 14th. RenaissanceRe's dividend payout ratio (DPR) is currently 4.45%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Morgan Stanley dropped their price objective on RenaissanceRe from $265.00 to $245.00 and set an "equal weight" rating for the company in a report on Friday, January 31st. Wells Fargo & Company reduced their target price on RenaissanceRe from $288.00 to $277.00 and set an "overweight" rating on the stock in a report on Thursday, January 30th. Barclays cut RenaissanceRe from an "equal weight" rating to an "underweight" rating and reduced their target price for the stock from $284.00 to $234.00 in a report on Monday, January 6th. Evercore ISI raised their price target on RenaissanceRe from $229.00 to $246.00 and gave the stock an "underperform" rating in a research report on Thursday, November 7th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of RenaissanceRe in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $279.90.

Insider Buying and Selling at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total value of $254,160.00. Following the completion of the transaction, the executive vice president now directly owns 79,392 shares in the company, valued at $20,178,270.72. This trade represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate 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.