Hilton Capital Management LLC Has $1.92 Million Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Hilton Capital Management LLC reduced its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 17.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,054 shares of the insurance provider’s stock after selling 1,486 shares during the quarter. Hilton Capital Management LLC’s holdings in RenaissanceRe were worth $1,922,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. ORG Wealth Partners LLC acquired a new position in RenaissanceRe during the third quarter worth $30,000. Blue Trust Inc. acquired a new position in RenaissanceRe during the second quarter worth $27,000. UMB Bank n.a. raised its stake in RenaissanceRe by 316.7% during the third quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 95 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in RenaissanceRe during the second quarter worth $31,000. Finally, EntryPoint Capital LLC acquired a new position in RenaissanceRe during the first quarter worth $46,000. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RNR. StockNews.com lowered RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Barclays initiated coverage on RenaissanceRe in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $287.00 target price for the company. Wells Fargo & Company raised their target price on RenaissanceRe from $280.00 to $314.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Evercore ISI raised their target price on RenaissanceRe from $229.00 to $246.00 and gave the company an “underperform” rating in a research note on Thursday, November 7th. Finally, Citigroup raised their target price on RenaissanceRe from $262.00 to $298.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, RenaissanceRe currently has an average rating of “Hold” and a consensus target price of $293.00.

Insider Transactions at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $279.00, for a total transaction of $279,000.00. Following the completion of the transaction, the executive vice president now directly owns 82,044 shares in the company, valued at approximately $22,890,276. The trade was a 1.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

RenaissanceRe Price Performance

Shares of RNR stock opened at $264.52 on Wednesday. The stock has a 50-day moving average price of $268.19 and a 200 day moving average price of $244.08. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.18. The firm has a market cap of $13.74 billion, a price-to-earnings ratio of 3.81, a PEG ratio of 1.32 and a beta of 0.39. RenaissanceRe Holdings Ltd. has a 12 month low of $188.24 and a 12 month high of $300.00.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $10.23 EPS for the quarter, topping analysts’ consensus estimates of $7.89 by $2.34. The firm had revenue of $2.16 billion during 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%. The company’s revenue was up 52.1% on a year-over-year basis. During the same period last year, the company earned $8.33 earnings per share. Research analysts expect that RenaissanceRe Holdings Ltd. will post 40.31 EPS for the current year.

RenaissanceRe Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.59%. RenaissanceRe’s payout ratio is currently 2.25%.

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.