RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Cinctive Capital Management LP

Cinctive Capital Management LP lowered its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 96.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,987 shares of the insurance provider’s stock after selling 57,773 shares during the quarter. Cinctive Capital Management LP’s holdings in RenaissanceRe were worth $541,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of RNR. Blue Trust Inc. purchased a new stake in RenaissanceRe in the 2nd quarter valued at about $27,000. ORG Wealth Partners LLC purchased a new stake in shares of RenaissanceRe in the 3rd quarter valued at approximately $30,000. V Square Quantitative Management LLC acquired a new position in shares of RenaissanceRe in the 2nd quarter worth approximately $31,000. UMB Bank n.a. boosted its position in shares of RenaissanceRe by 316.7% during the 3rd quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 95 shares during the period. Finally, Advisors Asset Management Inc. acquired a new stake in RenaissanceRe in the 3rd quarter valued at approximately $45,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

Insider Activity 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 Thursday, September 26th. The shares were sold at an average price of $269.00, for a total transaction of $269,000.00. Following the sale, the executive vice president now owns 83,044 shares of the company’s stock, valued at approximately $22,338,836. This trade represents a 1.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is currently owned by corporate insiders.

RenaissanceRe Trading Down 0.2 %

Shares of NYSE:RNR opened at $286.78 on Wednesday. RenaissanceRe Holdings Ltd. has a 52 week low of $188.24 and a 52 week high of $300.00. The company’s 50 day moving average is $271.36 and its two-hundred day moving average is $247.49. The company has a market cap of $14.90 billion, a PE ratio of 4.13, a P/E/G ratio of 1.40 and a beta of 0.41. 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 (NYSE:RNR) last posted its earnings results on Wednesday, November 6th. The insurance provider reported $10.23 EPS for the quarter, beating the consensus estimate of $7.89 by $2.34. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.35 billion. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. RenaissanceRe’s revenue for the quarter was up 52.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $8.33 earnings per share. Equities analysts predict that RenaissanceRe Holdings Ltd. will post 41.94 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Friday, December 13th. RenaissanceRe’s payout ratio is 2.25%.

Analyst Ratings Changes

RNR has been the topic of a number of research reports. Barclays started coverage on RenaissanceRe in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $287.00 price target on the stock. Keefe, Bruyette & Woods decreased their target price on RenaissanceRe from $316.00 to $310.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. JPMorgan Chase & Co. lifted their target price on RenaissanceRe from $274.00 to $280.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. StockNews.com cut shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Finally, Bank of America lifted their price objective on shares of RenaissanceRe from $364.00 to $391.00 and gave the company a “buy” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $293.00.

RenaissanceRe 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.