Fisher Asset Management LLC Reduces Position in RenaissanceRe Holdings Ltd. $RNR

Fisher Asset Management LLC decreased its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 5.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 72,969 shares of the insurance provider’s stock after selling 4,319 shares during the quarter. Fisher Asset Management LLC’s holdings in RenaissanceRe were worth $20,516,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Kingdom Financial Group LLC. purchased a new position in RenaissanceRe during the fourth quarter worth $36,000. Quarry LP increased its position in RenaissanceRe by 65.0% during the third quarter. Quarry LP now owns 132 shares of the insurance provider’s stock worth $34,000 after buying an additional 52 shares in the last quarter. CIBC Private Wealth Group LLC increased its position in RenaissanceRe by 235.0% during the third quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider’s stock worth $34,000 after buying an additional 94 shares in the last quarter. SBI Securities Co. Ltd. grew its position in shares of RenaissanceRe by 33.6% in the fourth quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 37 shares during the period. Finally, Clearstead Advisors LLC grew its position in shares of RenaissanceRe by 134.7% in the fourth quarter. Clearstead Advisors LLC now owns 176 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 101 shares during the period. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Analyst Ratings Changes

RNR has been the subject of a number of recent analyst reports. UBS Group lifted their price objective on RenaissanceRe from $319.00 to $326.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Wall Street Zen downgraded RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Cantor Fitzgerald raised RenaissanceRe from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $306.00 to $340.00 in a research report on Thursday, April 9th. TD Cowen lifted their price objective on RenaissanceRe from $280.00 to $290.00 and gave the company a “hold” rating in a research report on Thursday, February 26th. Finally, Morgan Stanley downgraded RenaissanceRe from an “overweight” rating to an “equal weight” rating and set a $310.00 price objective for the company. in a research report on Thursday, February 26th. Four equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $322.93.

RenaissanceRe Trading Down 1.8%

Shares of RNR opened at $289.64 on Thursday. The stock’s 50-day moving average is $300.99 and its two-hundred day moving average is $287.67. The stock has a market cap of $12.35 billion, a PE ratio of 4.83, a P/E/G ratio of 0.77 and a beta of 0.22. RenaissanceRe Holdings Ltd. has a 12 month low of $231.17 and a 12 month high of $318.20. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.37.

RenaissanceRe (NYSE:RNR) last posted its earnings results on Tuesday, March 31st. The insurance provider reported $13.75 EPS for the quarter. The company had revenue of $2.19 billion during the quarter. RenaissanceRe had a return on equity of 24.01% and a net margin of 24.25%. Equities analysts forecast that RenaissanceRe Holdings Ltd. will post 40.02 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, June 15th. RenaissanceRe’s dividend payout ratio is 2.73%.

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.