Fisher Asset Management LLC Has $19.63 Million Stake in RenaissanceRe Holdings Ltd. $RNR

Fisher Asset Management LLC lowered its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 2.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 77,288 shares of the insurance provider’s stock after selling 1,993 shares during the period. Fisher Asset Management LLC owned approximately 0.17% of RenaissanceRe worth $19,626,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in RenaissanceRe in the 2nd quarter worth approximately $139,543,000. JPMorgan Chase & Co. raised its position in shares of RenaissanceRe by 152.5% in the second quarter. JPMorgan Chase & Co. now owns 239,330 shares of the insurance provider’s stock valued at $58,136,000 after purchasing an additional 144,547 shares during the period. Impax Asset Management Group plc lifted its stake in shares of RenaissanceRe by 11.2% in the second quarter. Impax Asset Management Group plc now owns 1,220,038 shares of the insurance provider’s stock worth $295,494,000 after buying an additional 122,732 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of 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 buying an additional 120,063 shares during the period. Finally, Mackenzie Financial Corp grew its stake in RenaissanceRe by 111.8% in the 2nd quarter. Mackenzie Financial Corp now owns 167,420 shares of the insurance provider’s stock valued at $40,666,000 after buying an additional 88,367 shares during the last quarter. Institutional investors own 99.97% of the company’s stock.

Analysts Set New Price Targets

RNR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of RenaissanceRe from $303.00 to $329.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 7th. Wells Fargo & Company boosted their price objective on RenaissanceRe from $281.00 to $306.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. Morgan Stanley downgraded RenaissanceRe from an “overweight” rating to an “equal weight” rating and set a $310.00 target price for the company. in a research note on Thursday, February 26th. Evercore lifted their price target on RenaissanceRe from $283.00 to $291.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 4th. Finally, Wall Street Zen raised RenaissanceRe from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Three equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, RenaissanceRe currently has an average rating of “Hold” and a consensus price target of $310.27.

RenaissanceRe Trading Down 0.6%

RenaissanceRe stock opened at $299.89 on Thursday. The business has a 50 day moving average price of $287.03 and a two-hundred day moving average price of $266.73. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.21. RenaissanceRe Holdings Ltd. has a 12 month low of $219.00 and a 12 month high of $315.88. The stock has a market cap of $13.04 billion, a price-to-earnings ratio of 5.29, a price-to-earnings-growth ratio of 0.70 and a beta of 0.21.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Tuesday, February 3rd. The insurance provider reported $13.34 earnings per share for the quarter, topping the consensus estimate of $10.59 by $2.75. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $1.73 billion. RenaissanceRe had a return on equity of 18.29% and a net margin of 20.88%.RenaissanceRe’s revenue for the quarter was up 29.6% compared to the same quarter last year. During the same quarter last year, the firm earned $8.06 EPS. As a group, equities analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a $0.41 dividend. The ex-dividend date is Friday, March 13th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 0.5%. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.40. RenaissanceRe’s dividend payout ratio is currently 2.82%.

Insider Activity at RenaissanceRe

In other news, EVP Robert Qutub sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $305.75, for a total transaction of $1,528,750.00. Following the completion of the transaction, the executive vice president directly owned 73,023 shares of the company’s stock, valued at approximately $22,326,782.25. This trade represents a 6.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

RenaissanceRe Company 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.