RenaissanceRe Holdings Ltd. $RNR Holdings Lowered by Caitong International Asset Management Co. Ltd

Caitong International Asset Management Co. Ltd reduced its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 71.6% in the second quarter, HoldingsChannel reports. The fund owned 132 shares of the insurance provider’s stock after selling 333 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in RenaissanceRe were worth $32,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in RNR. GAMMA Investing LLC lifted its stake in shares of RenaissanceRe by 39.9% in the 1st quarter. GAMMA Investing LLC now owns 1,650 shares of the insurance provider’s stock worth $396,000 after acquiring an additional 471 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of RenaissanceRe by 1.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,847 shares of the insurance provider’s stock worth $1,643,000 after acquiring an additional 95 shares during the period. Oppenheimer & Co. Inc. lifted its stake in shares of RenaissanceRe by 110.4% in the 1st quarter. Oppenheimer & Co. Inc. now owns 1,818 shares of the insurance provider’s stock worth $436,000 after acquiring an additional 954 shares during the period. Tsfg LLC acquired a new stake in shares of RenaissanceRe in the 1st quarter worth approximately $40,000. Finally, Rossby Financial LCC acquired a new stake in shares of RenaissanceRe in the 1st quarter worth approximately $187,000. 99.97% of the stock is owned by institutional investors and hedge funds.

RenaissanceRe Stock Up 0.0%

Shares of NYSE:RNR opened at $243.29 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.36 and a current ratio of 1.36. The company has a market cap of $11.45 billion, a PE ratio of 6.22, a price-to-earnings-growth ratio of 2.04 and a beta of 0.27. RenaissanceRe Holdings Ltd. has a 52 week low of $219.00 and a 52 week high of $300.00. The firm has a 50 day simple moving average of $248.42 and a 200 day simple moving average of $244.21.

RenaissanceRe Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RNR. Cowen reaffirmed a “hold” rating on shares of RenaissanceRe in a research note on Tuesday, October 7th. The Goldman Sachs Group assumed coverage on shares of RenaissanceRe in a research note on Tuesday, October 14th. They set a “sell” rating and a $256.00 target price for the company. Evercore ISI set a $244.00 target price on shares of RenaissanceRe and gave the company an “in-line” rating in a research note on Wednesday, October 1st. Weiss Ratings reissued a “buy (b)” rating on shares of RenaissanceRe in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $303.00 target price on shares of RenaissanceRe in a research note on Thursday, October 9th. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $283.08.

RenaissanceRe Company 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.