Schonfeld Strategic Advisors LLC Has $498,000 Stock Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Schonfeld Strategic Advisors LLC cut its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 93.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,000 shares of the insurance provider's stock after selling 28,250 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in RenaissanceRe were worth $498,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Aster Capital Management DIFC Ltd purchased a new stake in shares of RenaissanceRe during the fourth quarter worth about $27,000. SBI Securities Co. Ltd. acquired a new position in RenaissanceRe during the fourth quarter worth approximately $29,000. MassMutual Private Wealth & Trust FSB increased its position in RenaissanceRe by 51.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider's stock worth $30,000 after purchasing an additional 41 shares during the last quarter. Jones Financial Companies Lllp increased its position in RenaissanceRe by 1,587.5% during the fourth quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock worth $34,000 after purchasing an additional 127 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in RenaissanceRe by 71.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock worth $39,000 after purchasing an additional 65 shares during the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at RenaissanceRe

In other news, CAO James Christopher Fraser sold 332 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $249.54, for a total transaction of $82,847.28. Following the transaction, the chief accounting officer now directly owns 27,154 shares in the company, valued at approximately $6,776,009.16. This represents a 1.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is currently owned by insiders.

RenaissanceRe Trading Up 1.2%

RenaissanceRe stock traded up $3.03 during midday trading on Friday, reaching $246.10. The stock had a trading volume of 97,951 shares, compared to its average volume of 426,999. The firm's fifty day simple moving average is $239.92 and its two-hundred day simple moving average is $249.29. RenaissanceRe Holdings Ltd. has a twelve month low of $208.98 and a twelve month high of $300.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42. The firm has a market cap of $11.97 billion, a price-to-earnings ratio of 7.02, a PEG ratio of 2.09 and a beta of 0.34.

RenaissanceRe (NYSE:RNR - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($1.17). RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. The business had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.36 billion. During the same period in the previous year, the firm posted $12.18 EPS. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. Equities analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.65%. RenaissanceRe's payout ratio is currently 5.10%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on RNR shares. Barclays decreased their price objective on shares of RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating for the company in a research note on Friday, April 11th. Bank of America reduced their price objective on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating on the stock in a research note on Wednesday, March 26th. JMP Securities reissued a "market perform" rating on shares of RenaissanceRe in a report on Thursday, April 24th. Morgan Stanley upgraded shares of RenaissanceRe from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $235.00 to $275.00 in a research note on Friday, April 25th. Finally, Wells Fargo & Company lowered their price objective on shares of RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, RenaissanceRe has an average rating of "Hold" and a consensus price target of $282.60.

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.