Cooke & Bieler LP Sells 76,787 Shares of RenaissanceRe Holdings Ltd. $RNR

Cooke & Bieler LP lowered its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 6.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,107,144 shares of the insurance provider’s stock after selling 76,787 shares during the quarter. RenaissanceRe accounts for approximately 2.9% of Cooke & Bieler LP’s holdings, making the stock its 3rd biggest holding. Cooke & Bieler LP owned 2.35% of RenaissanceRe worth $281,137,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in RenaissanceRe by 39.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,687 shares of the insurance provider’s stock valued at $2,325,000 after acquiring an additional 2,737 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of RenaissanceRe in the first quarter valued at approximately $15,289,000. Jones Financial Companies Lllp grew its position in shares of RenaissanceRe by 900.0% in the first quarter. Jones Financial Companies Lllp now owns 1,350 shares of the insurance provider’s stock valued at $324,000 after purchasing an additional 1,215 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of RenaissanceRe by 72.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 57,186 shares of the insurance provider’s stock worth $13,725,000 after purchasing an additional 24,027 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of RenaissanceRe by 6.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,293 shares of the insurance provider’s stock worth $1,757,000 after purchasing an additional 446 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. The Goldman Sachs Group reiterated a “sell” rating and set a $267.00 target price on shares of RenaissanceRe in a report on Wednesday, January 7th. Zacks Research downgraded RenaissanceRe from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. UBS Group lifted their price objective on RenaissanceRe from $265.00 to $272.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. Morgan Stanley reissued an “overweight” rating and issued a $300.00 target price on shares of RenaissanceRe in a research note on Tuesday, December 16th. Finally, Cantor Fitzgerald raised their price target on shares of RenaissanceRe from $252.00 to $282.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Five analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $298.07.

RenaissanceRe Price Performance

RenaissanceRe stock opened at $273.54 on Monday. RenaissanceRe Holdings Ltd. has a 1 year low of $219.00 and a 1 year high of $285.26. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a 50 day moving average price of $270.97 and a 200 day moving average price of $255.89. The company has a market cap of $12.61 billion, a price-to-earnings ratio of 7.60, a PEG ratio of 2.86 and a beta of 0.26.

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, beating analysts’ consensus estimates of $9.49 by $6.13. RenaissanceRe had a net margin of 14.23% and a return on equity of 16.83%. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter last year, the business earned $10.23 EPS. RenaissanceRe’s revenue for the quarter was down 4.8% on a year-over-year basis. Sell-side analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Monday, December 15th. RenaissanceRe’s payout ratio is 4.45%.

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.