Fisher Asset Management LLC Cuts Holdings in RenaissanceRe Holdings Ltd. $RNR

Fisher Asset Management LLC decreased its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 5.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,969 shares of the insurance provider’s stock after selling 4,319 shares during the quarter. Fisher Asset Management LLC owned approximately 0.16% of RenaissanceRe worth $20,516,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Capital World Investors grew its stake in RenaissanceRe by 0.3% during the 3rd quarter. Capital World Investors now owns 2,649,518 shares of the insurance provider’s stock worth $672,792,000 after buying an additional 7,839 shares during the last quarter. Lightrock Netherlands B.V. lifted its position in RenaissanceRe by 4,690.1% during the 4th quarter. Lightrock Netherlands B.V. now owns 1,017,508 shares of the insurance provider’s stock worth $286,083,000 after acquiring an additional 996,266 shares during the period. Dimensional Fund Advisors LP lifted its position in RenaissanceRe by 4.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,001,410 shares of the insurance provider’s stock worth $254,273,000 after acquiring an additional 45,936 shares during the period. Bank of America Corp DE lifted its position in RenaissanceRe by 17.6% during the 2nd quarter. Bank of America Corp DE now owns 803,547 shares of the insurance provider’s stock worth $195,182,000 after acquiring an additional 120,063 shares during the period. Finally, Invesco Ltd. lifted its position in RenaissanceRe by 6.2% during the 3rd quarter. Invesco Ltd. now owns 618,974 shares of the insurance provider’s stock worth $157,176,000 after acquiring an additional 36,254 shares during the period. Hedge funds and other institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Performance

NYSE RNR opened at $289.64 on Thursday. RenaissanceRe Holdings Ltd. has a 1-year low of $231.17 and a 1-year high of $318.20. The company has a market capitalization of $12.35 billion, a P/E ratio of 4.83, a PEG ratio of 0.77 and a beta of 0.22. The business has a 50 day moving average price of $300.99 and a 200 day moving average price of $287.67. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.37.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings data on Tuesday, March 31st. The insurance provider reported $13.75 earnings per share for the quarter. RenaissanceRe had a return on equity of 24.01% and a net margin of 24.25%.The firm had revenue of $2.19 billion during the quarter. Sell-side analysts expect that RenaissanceRe Holdings Ltd. will post 40.02 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.64 annualized dividend and a yield of 0.6%. RenaissanceRe’s dividend payout ratio (DPR) is presently 2.73%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on RNR shares. TD Cowen increased their price objective on RenaissanceRe from $280.00 to $290.00 and gave the stock a “hold” rating in a research report on Thursday, February 26th. Wells Fargo & Company raised their price target on RenaissanceRe from $305.00 to $306.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Citigroup raised their price target on RenaissanceRe from $333.00 to $335.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Weiss Ratings raised RenaissanceRe from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday. Finally, Morgan Stanley cut RenaissanceRe from an “overweight” rating to an “equal weight” rating and set a $310.00 price target for the company. in a report on Thursday, February 26th. Four investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $322.93.

RenaissanceRe Profile

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.