RenaissanceRe Holdings Ltd. $RNR Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC decreased its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 4.0% in the second quarter, HoldingsChannel reports. The firm owned 180,032 shares of the insurance provider’s stock after selling 7,414 shares during the quarter. TimesSquare Capital Management LLC’s holdings in RenaissanceRe were worth $43,730,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of RNR. Price T Rowe Associates Inc. MD raised its position in RenaissanceRe by 37.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,496,035 shares of the insurance provider’s stock worth $599,049,000 after buying an additional 676,125 shares during the last quarter. Nuveen LLC purchased a new stake in shares of RenaissanceRe in the 1st quarter valued at $54,087,000. Cooke & Bieler LP increased its stake in shares of RenaissanceRe by 18.0% in the first quarter. Cooke & Bieler LP now owns 1,247,742 shares of the insurance provider’s stock worth $299,458,000 after acquiring an additional 190,139 shares during the period. Great Lakes Advisors LLC increased its stake in shares of RenaissanceRe by 49.3% in the first quarter. Great Lakes Advisors LLC now owns 326,480 shares of the insurance provider’s stock worth $78,355,000 after acquiring an additional 107,745 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of RenaissanceRe by 15.3% during the first quarter. Dimensional Fund Advisors LP now owns 763,210 shares of the insurance provider’s stock worth $183,175,000 after purchasing an additional 101,060 shares during the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Down 0.5%

RNR stock opened at $266.34 on Wednesday. RenaissanceRe Holdings Ltd. has a 52 week low of $219.00 and a 52 week high of $290.78. The company has a quick ratio of 1.36, a current ratio of 1.40 and a debt-to-equity ratio of 0.21. The firm has a 50-day simple moving average of $251.43 and a 200-day simple moving average of $245.90. The stock has a market capitalization of $12.28 billion, a P/E ratio of 7.40, a P/E/G ratio of 2.08 and a beta of 0.25.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Tuesday, October 28th. The insurance provider reported $15.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.49 by $6.13. RenaissanceRe had a return on equity of 16.83% and a net margin of 14.23%.The company had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the previous year, the firm posted $10.23 EPS. RenaissanceRe’s revenue was down 4.8% compared to the same quarter last year. Equities analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Monday, December 15th. RenaissanceRe’s payout ratio is presently 4.45%.

Analysts Set New Price Targets

RNR has been the topic of several recent research reports. Cowen reaffirmed a “hold” rating on shares of RenaissanceRe in a report on Tuesday, October 7th. Keefe, Bruyette & Woods boosted their price objective on RenaissanceRe from $268.00 to $269.00 and gave the company a “market perform” rating in a report on Monday, July 28th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of RenaissanceRe in a report on Friday, October 31st. Evercore ISI set a $244.00 price target on RenaissanceRe and gave the company an “in-line” rating in a research report on Wednesday, October 1st. Finally, Wolfe Research initiated coverage on RenaissanceRe in a research report on Monday, September 15th. They issued a “peer perform” rating on the stock. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, RenaissanceRe presently has an average rating of “Hold” and a consensus price target of $283.67.

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.