Schonfeld Strategic Advisors LLC Sells 28,250 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Schonfeld Strategic Advisors LLC cut its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 93.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,000 shares of the insurance provider's stock after selling 28,250 shares during the period. Schonfeld Strategic Advisors LLC's holdings in RenaissanceRe were worth $498,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new stake in shares of RenaissanceRe in the 4th quarter valued at $27,000. SBI Securities Co. Ltd. acquired a new position in RenaissanceRe in the fourth quarter valued at $29,000. MassMutual Private Wealth & Trust FSB boosted 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 valued at $30,000 after acquiring an additional 41 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in RenaissanceRe by 1,587.5% during the 4th quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock worth $34,000 after acquiring an additional 127 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in shares of RenaissanceRe by 71.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock worth $39,000 after acquiring an additional 65 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company's stock.

Wall Street Analyst Weigh In

RNR has been the subject of several recent analyst reports. JMP Securities reaffirmed a "market perform" rating on shares of RenaissanceRe in a research note on Thursday, April 24th. Jefferies Financial Group reduced their price objective on shares of RenaissanceRe from $266.00 to $265.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Barclays dropped their target price on shares of RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating on the stock in a research report on Friday, April 11th. JPMorgan Chase & Co. upgraded shares of RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price target for the company in a report on Tuesday, April 8th. Finally, Bank of America dropped their price objective on shares of RenaissanceRe from $437.00 to $426.00 and set a "buy" rating on the stock in a report on Wednesday, March 26th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, RenaissanceRe currently has an average rating of "Hold" and an average price target of $282.60.

Insider Buying and Selling

In other RenaissanceRe news, CAO James Christopher Fraser sold 332 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $249.54, for a total value of $82,847.28. Following the transaction, the chief accounting officer now owns 27,154 shares of the company's stock, valued at approximately $6,776,009.16. The trade was a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is owned by corporate insiders.

RenaissanceRe Stock Performance

Shares of RNR opened at $251.61 on Friday. RenaissanceRe Holdings Ltd. has a 52 week low of $208.98 and a 52 week high of $300.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42. The stock has a 50 day moving average price of $239.86 and a two-hundred day moving average price of $249.87. The firm has a market capitalization of $12.24 billion, a P/E ratio of 7.18, a P/E/G ratio of 2.09 and a beta of 0.34.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced its quarterly earnings results 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 return on equity of 23.41% and a net margin of 15.99%. The company had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.36 billion. During the same quarter last year, the company posted $12.18 EPS. The company's quarterly revenue was up 7.6% 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Friday, June 13th. RenaissanceRe's payout ratio is currently 5.10%.

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.

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