Johnson Investment Counsel Inc. Sells 195 Shares of RenaissanceRe Holdings Ltd. $RNR

Johnson Investment Counsel Inc. cut its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 1.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,316 shares of the insurance provider’s stock after selling 195 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in RenaissanceRe were worth $2,506,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of RenaissanceRe by 37.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,496,035 shares of the insurance provider’s stock valued at $599,049,000 after buying an additional 676,125 shares in the last quarter. Nuveen LLC bought a new position in shares of RenaissanceRe in the first quarter valued at $54,087,000. Cooke & Bieler LP lifted its stake in shares of RenaissanceRe by 18.0% in the first quarter. Cooke & Bieler LP now owns 1,247,742 shares of the insurance provider’s stock valued at $299,458,000 after buying an additional 190,139 shares in the last quarter. Great Lakes Advisors LLC lifted its stake in shares of RenaissanceRe by 49.3% in the first quarter. Great Lakes Advisors LLC now owns 326,480 shares of the insurance provider’s stock valued at $78,355,000 after buying an additional 107,745 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of RenaissanceRe by 15.3% in the first quarter. Dimensional Fund Advisors LP now owns 763,210 shares of the insurance provider’s stock valued at $183,175,000 after buying an additional 101,060 shares in the last quarter. 99.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wolfe Research assumed coverage on shares of RenaissanceRe in a research note on Monday, September 15th. They issued a “peer perform” rating on the stock. Citigroup assumed coverage on shares of RenaissanceRe in a research note on Wednesday, August 13th. They issued a “buy” rating and a $288.00 price objective on the stock. Barclays set a $278.00 price objective on shares of RenaissanceRe in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods increased their target price on shares of RenaissanceRe from $268.00 to $269.00 and gave the company a “market perform” rating in a report on Monday, July 28th. Finally, Wells Fargo & Company increased their target price on shares of RenaissanceRe from $269.00 to $278.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $285.55.

RenaissanceRe Stock Performance

NYSE RNR opened at $262.25 on Tuesday. RenaissanceRe Holdings Ltd. has a 52-week low of $219.00 and a 52-week high of $300.00. The company has a 50-day simple moving average of $246.78 and a 200 day simple moving average of $243.32. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.36 and a current ratio of 1.36. The company has a market capitalization of $12.34 billion, a PE ratio of 6.70, a price-to-earnings-growth ratio of 2.33 and a beta of 0.27.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $12.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.28 by $2.01. RenaissanceRe had a net margin of 15.44% and a return on equity of 15.00%. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter last year, the company posted $12.41 earnings per share. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, research analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $0.40 dividend. The ex-dividend date was Monday, September 15th. This represents a $1.60 annualized dividend and a dividend yield of 0.6%. RenaissanceRe’s dividend payout ratio (DPR) is presently 4.09%.

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.