RenaissanceRe Holdings Ltd. $RNR Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC lessened its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,281 shares of the insurance provider’s stock after selling 2,969 shares during the period. Fisher Asset Management LLC’s holdings in RenaissanceRe were worth $19,257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in RNR. Hantz Financial Services Inc. lifted its holdings in shares of RenaissanceRe by 707.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 113 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 99 shares during the last quarter. IFP Advisors Inc grew its stake in RenaissanceRe by 160.0% during the 2nd quarter. IFP Advisors Inc now owns 117 shares of the insurance provider’s stock worth $28,000 after buying an additional 72 shares during the last quarter. Huntington National Bank increased its position in RenaissanceRe by 80.9% during the second quarter. Huntington National Bank now owns 123 shares of the insurance provider’s stock worth $30,000 after buying an additional 55 shares during the period. Brooklyn Investment Group lifted its stake in RenaissanceRe by 151.7% in the first quarter. Brooklyn Investment Group now owns 146 shares of the insurance provider’s stock valued at $35,000 after buying an additional 88 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in RenaissanceRe by 43.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 186 shares of the insurance provider’s stock valued at $45,000 after buying an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

RenaissanceRe Trading Up 0.3%

NYSE RNR opened at $265.87 on Thursday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $12.26 billion, a P/E ratio of 7.39, a P/E/G ratio of 1.59 and a beta of 0.26. RenaissanceRe Holdings Ltd. has a 52-week low of $219.00 and a 52-week high of $290.78. The firm has a 50-day moving average price of $257.73 and a 200 day moving average price of $247.90.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Tuesday, October 28th. The insurance provider reported $15.62 earnings per share for the quarter, beating analysts’ consensus estimates of $9.49 by $6.13. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $1.97 billion. RenaissanceRe had a return on equity of 16.83% and a net margin of 14.23%.The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $10.23 EPS. Equities research analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wells Fargo & Company lifted their target price on shares of RenaissanceRe from $278.00 to $285.00 and gave the company an “equal weight” rating in a report on Thursday, October 30th. Cantor Fitzgerald upgraded shares of RenaissanceRe to a “hold” rating in a research note on Wednesday, August 13th. Barclays set a $278.00 target price on shares of RenaissanceRe in a research note on Wednesday, October 8th. Weiss Ratings restated a “buy (b)” rating on shares of RenaissanceRe in a research report on Monday. Finally, Evercore ISI set a $244.00 price objective on RenaissanceRe and gave the stock an “in-line” rating in a research report on Wednesday, October 1st. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $284.50.

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.