Nisa Investment Advisors LLC Sells 479 Shares of RenaissanceRe Holdings Ltd. $RNR

Nisa Investment Advisors LLC lowered its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 41.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 663 shares of the insurance provider’s stock after selling 479 shares during the quarter. Nisa Investment Advisors LLC’s holdings in RenaissanceRe were worth $161,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of RNR. IFP Advisors Inc lifted its holdings in shares of RenaissanceRe by 160.0% in the 2nd quarter. IFP Advisors Inc now owns 117 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 72 shares during the last quarter. Brooklyn Investment Group grew its holdings in RenaissanceRe by 151.7% during the 1st quarter. Brooklyn Investment Group now owns 146 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 88 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in RenaissanceRe by 43.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 186 shares of the insurance provider’s stock valued at $45,000 after purchasing an additional 56 shares during the last quarter. LRI Investments LLC grew its holdings in RenaissanceRe by 116.5% during the 1st quarter. LRI Investments LLC now owns 262 shares of the insurance provider’s stock valued at $63,000 after purchasing an additional 141 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in RenaissanceRe by 10.5% during the 1st quarter. Advisors Asset Management Inc. now owns 441 shares of the insurance provider’s stock valued at $106,000 after purchasing an additional 42 shares during the last quarter. Institutional investors own 99.97% of the company’s stock.

Analysts Set New Price Targets

RNR has been the topic of several analyst reports. Cowen reiterated a “hold” rating on shares of RenaissanceRe in a report on Tuesday, October 7th. Morgan Stanley cut their price target on shares of RenaissanceRe from $285.00 to $280.00 and set an “overweight” rating on the stock in a report on Monday, July 14th. Keefe, Bruyette & Woods upped their price target on shares of RenaissanceRe from $268.00 to $269.00 and gave the company a “market perform” rating in a report on Monday, July 28th. Weiss Ratings reiterated a “buy (b-)” rating on shares of RenaissanceRe in a report on Friday, October 31st. Finally, The Goldman Sachs Group began coverage on shares of RenaissanceRe in a report on Tuesday, October 14th. They set a “sell” rating and a $256.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $283.67.

RenaissanceRe Trading Up 2.4%

Shares of RNR opened at $262.20 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.40 and a quick ratio of 1.36. The firm has a market capitalization of $12.09 billion, a price-to-earnings ratio of 7.29, a PEG ratio of 2.08 and a beta of 0.27. The company has a 50-day moving average of $249.03 and a 200 day moving average of $244.80. RenaissanceRe Holdings Ltd. has a 1-year low of $219.00 and a 1-year high of $300.00.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Tuesday, October 28th. The insurance provider reported $15.62 earnings per share for the quarter, topping the consensus estimate of $9.49 by $6.13. RenaissanceRe had a net margin of 14.23% and a return on equity of 16.83%. The firm had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter in the prior year, the company earned $10.23 EPS. The company’s revenue was down 4.8% compared to the same quarter last year. On average, research analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

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.