Fisher Asset Management LLC Acquires 8,844 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Fisher Asset Management LLC grew its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 12.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,773 shares of the insurance provider’s stock after purchasing an additional 8,844 shares during the quarter. Fisher Asset Management LLC owned about 0.15% of RenaissanceRe worth $22,003,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Blue Trust Inc. bought a new position in RenaissanceRe during the second quarter valued at about $27,000. ORG Wealth Partners LLC bought a new position in shares of RenaissanceRe in the 3rd quarter valued at approximately $30,000. V Square Quantitative Management LLC acquired a new stake in RenaissanceRe in the 2nd quarter worth approximately $31,000. UMB Bank n.a. lifted its holdings in RenaissanceRe by 316.7% in the 3rd quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 95 shares during the last quarter. Finally, Advisors Asset Management Inc. bought a new stake in RenaissanceRe during the third quarter worth approximately $45,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

Insider Transactions at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $269.00, for a total transaction of $269,000.00. Following the sale, the executive vice president now owns 83,044 shares of the company’s stock, valued at $22,338,836. This represents a 1.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

RNR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of RenaissanceRe from $274.00 to $280.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods reduced their price target on shares of RenaissanceRe from $316.00 to $310.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Citigroup boosted their price objective on shares of RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Jefferies Financial Group raised their price objective on RenaissanceRe from $270.00 to $314.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, StockNews.com lowered RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, RenaissanceRe presently has a consensus rating of “Hold” and a consensus target price of $293.00.

RenaissanceRe Trading Up 1.1 %

Shares of RenaissanceRe stock opened at $285.44 on Thursday. RenaissanceRe Holdings Ltd. has a 12-month low of $188.24 and a 12-month high of $300.00. The stock has a market capitalization of $14.83 billion, a P/E ratio of 4.11, a price-to-earnings-growth ratio of 1.36 and a beta of 0.39. The company has a 50-day simple moving average of $269.50 and a 200 day simple moving average of $245.75. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.18.

RenaissanceRe (NYSE:RNR) last posted its earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.89 by $2.34. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.35 billion. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. RenaissanceRe’s quarterly revenue was up 52.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.33 earnings per share. Research analysts expect that RenaissanceRe Holdings Ltd. will post 41.94 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Friday, December 13th. RenaissanceRe’s dividend payout ratio is currently 2.25%.

About RenaissanceRe

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.