RenaissanceRe Holdings Ltd. $RNR Position Trimmed by Cooke & Bieler LP

Cooke & Bieler LP cut its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 1.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,095,841 shares of the insurance provider’s stock after selling 11,303 shares during the quarter. RenaissanceRe comprises approximately 3.2% of Cooke & Bieler LP’s portfolio, making the stock its 2nd biggest holding. Cooke & Bieler LP’s holdings in RenaissanceRe were worth $308,107,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd raised its position in shares of RenaissanceRe by 812.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 17,078 shares of the insurance provider’s stock valued at $4,337,000 after buying an additional 15,207 shares during the last quarter. Diamond Hill Capital Management Inc. raised its position in shares of RenaissanceRe by 16.0% in the third quarter. Diamond Hill Capital Management Inc. now owns 119,240 shares of the insurance provider’s stock valued at $30,279,000 after buying an additional 16,448 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in RenaissanceRe by 4.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,001,410 shares of the insurance provider’s stock worth $254,273,000 after acquiring an additional 45,936 shares during the last quarter. New Age Alpha Advisors LLC boosted its position in RenaissanceRe by 97.2% during the third quarter. New Age Alpha Advisors LLC now owns 20,800 shares of the insurance provider’s stock worth $5,165,000 after acquiring an additional 10,250 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in RenaissanceRe by 135.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 195,975 shares of the insurance provider’s stock worth $55,100,000 after acquiring an additional 112,910 shares during the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on RNR shares. Weiss Ratings restated a “buy (b)” rating on shares of RenaissanceRe in a research report on Friday, March 27th. Keefe, Bruyette & Woods raised their target price on shares of RenaissanceRe from $323.00 to $327.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 7th. Cantor Fitzgerald raised shares of RenaissanceRe from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $306.00 to $340.00 in a research note on Thursday, April 9th. Morgan Stanley lowered shares of RenaissanceRe from an “overweight” rating to an “equal weight” rating and set a $310.00 target price on the stock. in a research note on Thursday, February 26th. Finally, Mizuho set a $325.00 target price on shares of RenaissanceRe in a research note on Monday, May 4th. Four research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, RenaissanceRe presently has an average rating of “Hold” and a consensus price target of $322.93.

RenaissanceRe Trading Down 0.0%

RNR opened at $295.54 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.37. The company’s 50 day simple moving average is $300.97 and its two-hundred day simple moving average is $287.08. RenaissanceRe Holdings Ltd. has a 1-year low of $231.17 and a 1-year high of $318.20. The firm has a market capitalization of $12.60 billion, a price-to-earnings ratio of 4.93, a price-to-earnings-growth ratio of 0.78 and a beta of 0.22.

RenaissanceRe (NYSE:RNR) last released its earnings results on Tuesday, March 31st. The insurance provider reported $13.75 earnings per share for the quarter. The business had revenue of $2.19 billion for the quarter. RenaissanceRe had a net margin of 24.25% and a return on equity of 24.01%. Analysts expect that RenaissanceRe Holdings Ltd. will post 40.02 EPS for the current fiscal year.

RenaissanceRe Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, June 15th. RenaissanceRe’s payout ratio is presently 2.73%.

RenaissanceRe Profile

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.