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

Fisher Asset Management LLC lowered its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3.6% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 79,281 shares of the insurance provider’s stock after selling 2,969 shares during the period. Fisher Asset Management LLC owned approximately 0.17% of RenaissanceRe worth $19,257,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RNR. Hantz Financial Services Inc. boosted its position in shares of RenaissanceRe by 707.1% during the second quarter. Hantz Financial Services Inc. now owns 113 shares of the insurance provider’s stock worth $27,000 after buying an additional 99 shares during the period. IFP Advisors Inc lifted 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 acquiring an additional 72 shares in the last quarter. Huntington National Bank boosted its holdings in RenaissanceRe by 80.9% during the 2nd quarter. Huntington National Bank now owns 123 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 55 shares during the period. Brooklyn Investment Group grew its position in RenaissanceRe by 151.7% in the 1st quarter. Brooklyn Investment Group now owns 146 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 88 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in RenaissanceRe by 43.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 186 shares of the insurance provider’s stock worth $45,000 after purchasing an additional 56 shares during the period. Hedge funds and other institutional investors own 99.97% of the company’s stock.

RenaissanceRe Price Performance

RenaissanceRe stock opened at $265.87 on Thursday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.21. The company has a fifty day simple moving average of $257.73 and a 200-day simple moving average of $247.90. The stock has a market cap of $12.26 billion, a P/E ratio of 7.39, a price-to-earnings-growth ratio of 1.59 and a beta of 0.26. RenaissanceRe Holdings Ltd. has a 12-month low of $219.00 and a 12-month high of $290.78.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings results 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 analysts’ expectations of $1.97 billion. RenaissanceRe had a return on equity of 16.83% and a net margin of 14.23%.RenaissanceRe’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period last year, the firm earned $10.23 earnings per share. Equities analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on RNR. UBS Group lifted their price objective on shares of RenaissanceRe from $265.00 to $272.00 and gave the company a “neutral” rating in a report on Wednesday, October 8th. Evercore ISI set a $244.00 price target on shares of RenaissanceRe and gave the stock an “in-line” rating in a research note on Wednesday, October 1st. Wells Fargo & Company upped their price objective on RenaissanceRe from $278.00 to $285.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 30th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $303.00 target price on shares of RenaissanceRe in a report on Thursday, October 9th. Finally, Citigroup started coverage on RenaissanceRe in a research note on Wednesday, August 13th. They set a “buy” rating and a $288.00 target price for the company. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $284.50.

RenaissanceRe 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.