Rhumbline Advisers Has $30.39 Million Position in RenaissanceRe Holdings Ltd. $RNR

Rhumbline Advisers cut its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 8.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 125,128 shares of the insurance provider’s stock after selling 11,877 shares during the period. Rhumbline Advisers owned approximately 0.27% of RenaissanceRe worth $30,394,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hantz Financial Services Inc. increased its holdings in RenaissanceRe by 707.1% in the second quarter. Hantz Financial Services Inc. now owns 113 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 99 shares in the last quarter. IFP Advisors Inc boosted its holdings in shares of RenaissanceRe by 160.0% during the 2nd quarter. IFP Advisors Inc now owns 117 shares of the insurance provider’s stock worth $28,000 after buying an additional 72 shares in the last quarter. Huntington National Bank grew its position in shares of RenaissanceRe by 80.9% during the 2nd quarter. Huntington National Bank now owns 123 shares of the insurance provider’s stock worth $30,000 after buying an additional 55 shares during the period. Brooklyn Investment Group increased its stake in shares of RenaissanceRe by 151.7% in the 1st quarter. Brooklyn Investment Group now owns 146 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 88 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of RenaissanceRe by 43.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 186 shares of the insurance provider’s stock valued at $45,000 after acquiring an additional 56 shares in the last quarter. Institutional investors own 99.97% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on RNR. UBS Group increased their target price on shares of RenaissanceRe from $265.00 to $272.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 8th. Barclays set a $278.00 price objective on shares of RenaissanceRe in a report on Wednesday, October 8th. Cowen reissued a “hold” rating on shares of RenaissanceRe in a research report on Tuesday, October 7th. Weiss Ratings restated a “buy (b)” rating on shares of RenaissanceRe in a research note on Tuesday. Finally, 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 research note on Thursday, October 30th. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $284.50.

RenaissanceRe Stock Down 0.2%

Shares of NYSE RNR opened at $261.16 on Thursday. 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 company has a 50-day moving average price of $255.86 and a 200-day moving average price of $247.24. The stock has a market capitalization of $12.04 billion, a P/E ratio of 7.26, a P/E/G ratio of 2.08 and a beta of 0.25. RenaissanceRe Holdings Ltd. has a 1 year low of $219.00 and a 1 year high of $290.78.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Tuesday, October 28th. The insurance provider reported $15.62 earnings per share for the quarter, beating the consensus estimate of $9.49 by $6.13. The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $1.97 billion. RenaissanceRe had a net margin of 14.23% and a return on equity of 16.83%. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter last year, the firm earned $10.23 EPS. On average, equities research analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, December 15th. RenaissanceRe’s dividend payout ratio (DPR) is currently 4.45%.

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.