New York Life Investment Management LLC Sells 442 Shares of RenaissanceRe Holdings Ltd. $RNR

New York Life Investment Management LLC reduced its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 8.0% during the second quarter, Holdings Channel.com reports. The firm owned 5,058 shares of the insurance provider’s stock after selling 442 shares during the quarter. New York Life Investment Management LLC’s holdings in RenaissanceRe were worth $1,229,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its holdings in RenaissanceRe by 37.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,496,035 shares of the insurance provider’s stock worth $599,049,000 after buying an additional 676,125 shares during the last quarter. Boston Partners increased its position in shares of RenaissanceRe by 4.6% during the first quarter. Boston Partners now owns 2,106,207 shares of the insurance provider’s stock worth $505,509,000 after acquiring an additional 92,825 shares in the last quarter. Cooke & Bieler LP increased its position in shares of RenaissanceRe by 18.0% during the first quarter. Cooke & Bieler LP now owns 1,247,742 shares of the insurance provider’s stock worth $299,458,000 after acquiring an additional 190,139 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of RenaissanceRe by 15.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 763,210 shares of the insurance provider’s stock worth $183,175,000 after acquiring an additional 101,060 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its position in RenaissanceRe by 15.2% in the 1st quarter. Lord Abbett & CO. LLC now owns 466,823 shares of the insurance provider’s stock valued at $112,038,000 after acquiring an additional 61,465 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

RenaissanceRe Stock Down 0.1%

Shares of NYSE:RNR opened at $254.21 on Friday. The company has a market capitalization of $11.96 billion, a PE ratio of 7.06, a price-to-earnings-growth ratio of 2.08 and a beta of 0.27. RenaissanceRe Holdings Ltd. has a 1 year low of $219.00 and a 1 year high of $300.00. 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 business has a fifty day moving average price of $248.46 and a two-hundred day moving average price of $244.50.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Tuesday, October 28th. The insurance provider reported $15.62 earnings per share for the quarter, topping 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 $2.06 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the previous year, the firm earned $10.23 EPS. The firm’s quarterly revenue was down 4.8% on a year-over-year basis. Analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RNR. Barclays set a $278.00 price objective on RenaissanceRe in a report on Wednesday, October 8th. Wells Fargo & Company upped their price target on RenaissanceRe from $278.00 to $285.00 and gave the stock an “equal weight” rating in a report on Thursday. Evercore ISI set a $244.00 price objective on RenaissanceRe and gave the company an “in-line” rating in a research note on Wednesday, October 1st. Citigroup began coverage on shares of RenaissanceRe in a report on Wednesday, August 13th. They set a “buy” rating and a $288.00 price objective on the stock. Finally, Cantor Fitzgerald upgraded shares of RenaissanceRe to a “hold” rating in a report on Wednesday, August 13th. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, RenaissanceRe has a consensus rating of “Hold” and an average target price of $283.67.

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.