RenaissanceRe Holdings Ltd. $RNR Shares Sold by Cooke & Bieler LP

Cooke & Bieler LP lessened its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 5.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,183,931 shares of the insurance provider’s stock after selling 63,811 shares during the period. RenaissanceRe accounts for about 2.9% of Cooke & Bieler LP’s investment portfolio, making the stock its 4th biggest holding. Cooke & Bieler LP owned approximately 2.52% of RenaissanceRe worth $287,577,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Amundi lifted its position in shares of RenaissanceRe by 18.0% in the first quarter. Amundi now owns 6,924 shares of the insurance provider’s stock worth $1,699,000 after buying an additional 1,054 shares during the last quarter. Bridges Investment Management Inc. lifted its holdings in RenaissanceRe by 21.9% in the 1st quarter. Bridges Investment Management Inc. now owns 6,020 shares of the insurance provider’s stock worth $1,445,000 after purchasing an additional 1,080 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in RenaissanceRe by 128.4% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,142 shares of the insurance provider’s stock worth $274,000 after purchasing an additional 642 shares during the last quarter. Jane Street Group LLC lifted its holdings in RenaissanceRe by 1,180.7% in the 1st quarter. Jane Street Group LLC now owns 74,217 shares of the insurance provider’s stock worth $17,812,000 after purchasing an additional 68,422 shares during the last quarter. Finally, M&T Bank Corp lifted its stake in shares of RenaissanceRe by 3.1% in the first quarter. M&T Bank Corp now owns 4,151 shares of the insurance provider’s stock worth $996,000 after buying an additional 124 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

RenaissanceRe Stock Down 0.1%

Shares of RNR opened at $254.21 on Friday. The company has a 50-day simple moving average of $248.46 and a 200-day simple moving average of $244.46. The firm has a market capitalization of $11.96 billion, a P/E ratio of 7.06, a P/E/G ratio of 2.08 and a beta of 0.27. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.36 and a current ratio of 1.40. RenaissanceRe Holdings Ltd. has a 52 week low of $219.00 and a 52 week high of $300.00.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Tuesday, October 28th. The insurance provider reported $15.62 EPS for the quarter, beating analysts’ consensus estimates of $9.49 by $6.13. The business had revenue of $2.06 billion during the quarter, compared to analyst estimates of $1.97 billion. RenaissanceRe had a net margin of 14.23% and a return on equity of 16.83%. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $10.23 earnings per share. On average, equities research analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

Analysts Set New Price Targets

RNR has been the subject of a number of analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of RenaissanceRe in a research note on Friday. Cowen reissued a “hold” rating on shares of RenaissanceRe in a research report on Tuesday, October 7th. Evercore ISI set a $244.00 price objective on RenaissanceRe and gave the stock an “in-line” rating in a research report on Wednesday, October 1st. The Goldman Sachs Group assumed coverage on RenaissanceRe in a research report on Tuesday, October 14th. They set a “sell” rating and a $256.00 price objective for the company. Finally, Wells Fargo & Company boosted their price objective on RenaissanceRe from $278.00 to $285.00 and gave the stock an “equal weight” rating in a research report on Thursday. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $283.67.

RenaissanceRe 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.