Oppenheimer Asset Management Inc. Lowers Stock Holdings in RenaissanceRe Holdings Ltd. $RNR

Oppenheimer Asset Management Inc. lowered its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,902 shares of the insurance provider’s stock after selling 218 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in RenaissanceRe were worth $2,648,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. IFP Advisors Inc grew its holdings in shares of RenaissanceRe by 160.0% during the second quarter. IFP Advisors Inc now owns 117 shares of the insurance provider’s stock worth $28,000 after buying an additional 72 shares during the last quarter. Brooklyn Investment Group grew its holdings in shares of RenaissanceRe by 151.7% during the first quarter. Brooklyn Investment Group now owns 146 shares of the insurance provider’s stock worth $35,000 after buying an additional 88 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of RenaissanceRe by 43.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 186 shares of the insurance provider’s stock worth $45,000 after buying an additional 56 shares during the last quarter. LRI Investments LLC grew its holdings in shares of RenaissanceRe by 116.5% during the first quarter. LRI Investments LLC now owns 262 shares of the insurance provider’s stock worth $63,000 after buying an additional 141 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in shares of RenaissanceRe by 10.5% during the first quarter. Advisors Asset Management Inc. now owns 441 shares of the insurance provider’s stock worth $106,000 after buying an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. UBS Group lifted their price objective on RenaissanceRe from $265.00 to $272.00 and gave the company a “neutral” rating in a report on Wednesday, October 8th. Evercore ISI set a $244.00 price objective on RenaissanceRe and gave the company an “in-line” rating in a report on Wednesday, October 1st. Wolfe Research assumed coverage on RenaissanceRe in a report on Monday, September 15th. They issued a “peer perform” rating on the stock. Cantor Fitzgerald raised RenaissanceRe to a “hold” rating in a report on Wednesday, August 13th. Finally, Morgan Stanley lowered their price objective on RenaissanceRe from $285.00 to $280.00 and set an “overweight” rating on the stock in a report on Monday, July 14th. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $283.08.

RenaissanceRe Price Performance

Shares of NYSE:RNR opened at $247.65 on Thursday. The business’s 50 day simple moving average is $248.24 and its 200-day simple moving average is $244.29. The firm has a market capitalization of $11.66 billion, a price-to-earnings ratio of 6.88, a price-to-earnings-growth ratio of 1.94 and a beta of 0.27. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.36 and a quick ratio of 1.36. RenaissanceRe Holdings Ltd. has a 12 month low of $219.00 and a 12 month high of $300.00.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Tuesday, October 28th. The insurance provider reported $15.62 EPS for the quarter, topping the consensus estimate of $9.49 by $6.13. The business had revenue of $2.06 billion for the quarter, compared to analyst estimates of $1.97 billion. RenaissanceRe had a return on equity of 17.22% and a net margin of 14.23%.The company’s quarterly revenue was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $10.23 EPS. As a group, equities analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

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.