Ethic Inc. Sells 73 Shares of RenaissanceRe Holdings Ltd. $RNR

Ethic Inc. decreased its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 2.0% during the second quarter, HoldingsChannel.com reports. The fund owned 3,565 shares of the insurance provider’s stock after selling 73 shares during the quarter. Ethic Inc.’s holdings in RenaissanceRe were worth $861,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of RenaissanceRe by 37.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,496,035 shares of the insurance provider’s stock valued at $599,049,000 after purchasing an additional 676,125 shares in the last quarter. Boston Partners raised its stake in RenaissanceRe by 4.6% during the first quarter. Boston Partners now owns 2,106,207 shares of the insurance provider’s stock valued at $505,509,000 after purchasing an additional 92,825 shares in the last quarter. Cooke & Bieler LP lifted its position in RenaissanceRe by 18.0% during the first quarter. Cooke & Bieler LP now owns 1,247,742 shares of the insurance provider’s stock valued at $299,458,000 after purchasing an additional 190,139 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of RenaissanceRe by 15.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 763,210 shares of the insurance provider’s stock worth $183,175,000 after buying an additional 101,060 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its holdings in shares of RenaissanceRe by 15.2% in the 1st quarter. Lord Abbett & CO. LLC now owns 466,823 shares of the insurance provider’s stock worth $112,038,000 after buying an additional 61,465 shares during the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on RNR shares. Barclays set a $278.00 price target on RenaissanceRe in a research report on Wednesday, October 8th. The Goldman Sachs Group started coverage on RenaissanceRe in a research note on Tuesday, October 14th. They issued a “sell” rating and a $256.00 price objective for the company. Wolfe Research initiated coverage on RenaissanceRe in a research report on Monday, September 15th. They set a “peer perform” rating on the stock. Wells Fargo & Company increased their price target on RenaissanceRe from $269.00 to $278.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. Finally, UBS Group lifted their price objective 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. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, RenaissanceRe has a consensus rating of “Hold” and an average target price of $283.08.

RenaissanceRe Trading Down 0.5%

RNR stock opened at $242.29 on Tuesday. RenaissanceRe Holdings Ltd. has a 12 month low of $219.00 and a 12 month high of $300.00. The firm’s 50-day moving average is $248.48 and its 200 day moving average is $244.22. The company has a market capitalization of $11.40 billion, a PE ratio of 6.19, a P/E/G ratio of 2.04 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, September 15th. RenaissanceRe’s payout ratio is currently 4.09%.

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.