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

TimesSquare Capital Management LLC lessened its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 7.9% in the fourth quarter, Holdings Channel reports. The firm owned 474,820 shares of the insurance provider’s stock after selling 40,695 shares during the period. RenaissanceRe accounts for 1.4% of TimesSquare Capital Management LLC’s investment portfolio, making the stock its 16th biggest position. TimesSquare Capital Management LLC’s holdings in RenaissanceRe were worth $93,065,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of RenaissanceRe by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 5,417,518 shares of the insurance provider’s stock valued at $1,072,235,000 after acquiring an additional 120,302 shares in the last quarter. Boston Partners lifted its position in RenaissanceRe by 7.1% during the 3rd quarter. Boston Partners now owns 2,052,716 shares of the insurance provider’s stock worth $406,390,000 after acquiring an additional 135,861 shares in the last quarter. Polar Capital Holdings Plc raised its stake in shares of RenaissanceRe by 7.5% during the third quarter. Polar Capital Holdings Plc now owns 1,104,756 shares of the insurance provider’s stock valued at $218,653,000 after purchasing an additional 77,319 shares during the period. Cooke & Bieler LP grew its stake in shares of RenaissanceRe by 97.9% during the fourth quarter. Cooke & Bieler LP now owns 1,088,978 shares of the insurance provider’s stock valued at $213,440,000 after acquiring an additional 538,636 shares in the last quarter. Finally, Earnest Partners LLC increased its holdings in RenaissanceRe by 2.9% during the 3rd quarter. Earnest Partners LLC now owns 548,496 shares of the insurance provider’s stock worth $108,558,000 after purchasing an additional 15,692 shares during the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at RenaissanceRe

In related news, Director Carol P. Sanders sold 880 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $227.59, for a total transaction of $200,279.20. Following the completion of the sale, the director now owns 5,363 shares in the company, valued at approximately $1,220,565.17. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Evercore ISI increased their price target on shares of RenaissanceRe from $216.00 to $218.00 and gave the stock an “underperform” rating in a research report on Wednesday, May 1st. BMO Capital Markets raised their price target on shares of RenaissanceRe from $216.00 to $295.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. JPMorgan Chase & Co. increased their price target on RenaissanceRe from $237.00 to $245.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. TD Cowen assumed coverage on RenaissanceRe in a research note on Wednesday, January 10th. They set a “market perform” rating for the company. Finally, UBS Group upped their price target on shares of RenaissanceRe from $229.00 to $238.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, RenaissanceRe presently has an average rating of “Hold” and a consensus target price of $249.00.

RenaissanceRe Stock Down 0.4 %

RNR traded down $0.80 during midday trading on Thursday, hitting $225.81. 144,453 shares of the company’s stock traded hands, compared to its average volume of 364,941. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.41 and a quick ratio of 1.41. RenaissanceRe Holdings Ltd. has a one year low of $174.22 and a one year high of $239.42. The stock’s fifty day simple moving average is $226.28 and its 200-day simple moving average is $216.45. The company has a market cap of $11.94 billion, a PE ratio of 5.01, a price-to-earnings-growth ratio of 1.95 and a beta of 0.31.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Tuesday, April 30th. The insurance provider reported $12.18 EPS for the quarter, beating the consensus estimate of $9.86 by $2.32. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.05 billion. RenaissanceRe had a return on equity of 27.09% and a net margin of 24.79%. The company’s revenue for the quarter was up 41.3% compared to the same quarter last year. During the same quarter last year, the company posted $8.16 earnings per share. As a group, equities analysts anticipate that RenaissanceRe Holdings Ltd. will post 35.4 earnings per share for the current fiscal year.

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.