Applied Finance Capital Management LLC Has $287,000 Position in RenaissanceRe Holdings Ltd. $RNR

Applied Finance Capital Management LLC reduced its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 12.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,182 shares of the insurance provider’s stock after selling 162 shares during the period. Applied Finance Capital Management LLC’s holdings in RenaissanceRe were worth $287,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. IFP Advisors Inc lifted its holdings in 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 purchasing an additional 72 shares during the last quarter. Brooklyn Investment Group lifted its holdings in RenaissanceRe by 151.7% during the 1st quarter. Brooklyn Investment Group now owns 146 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 88 shares during the last quarter. Tsfg LLC acquired a new stake in RenaissanceRe during the 1st quarter worth approximately $40,000. MassMutual Private Wealth & Trust FSB lifted its holdings in RenaissanceRe by 43.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 186 shares of the insurance provider’s stock worth $45,000 after purchasing an additional 56 shares during the last quarter. Finally, LRI Investments LLC lifted its holdings in RenaissanceRe by 116.5% during the 1st quarter. LRI Investments LLC now owns 262 shares of the insurance provider’s stock worth $63,000 after purchasing an additional 141 shares during the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

RenaissanceRe Price Performance

Shares of NYSE RNR opened at $251.18 on Friday. The stock has a market capitalization of $11.82 billion, a PE ratio of 6.42, a P/E/G ratio of 2.11 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. The business has a fifty day moving average price of $248.09 and a two-hundred day moving average price of $243.66. RenaissanceRe Holdings Ltd. has a fifty-two week low of $219.00 and a fifty-two week high of $300.00.

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

RenaissanceRe Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.6%. RenaissanceRe’s payout ratio is 4.09%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on RNR shares. Citigroup started coverage on RenaissanceRe in a report on Wednesday, August 13th. They set a “buy” rating and a $288.00 price target for the company. Cowen reissued a “hold” rating on shares of RenaissanceRe in a report on Tuesday, October 7th. 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of RenaissanceRe in a report on Wednesday, October 8th. Finally, Wolfe Research assumed coverage on RenaissanceRe in a report on Monday, September 15th. They issued a “peer perform” rating for the company. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, RenaissanceRe presently has an average rating of “Hold” and an average price target of $283.08.

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.