Fisher Asset Management LLC Purchases 8,844 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Fisher Asset Management LLC boosted its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 12.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 80,773 shares of the insurance provider’s stock after purchasing an additional 8,844 shares during the quarter. Fisher Asset Management LLC’s holdings in RenaissanceRe were worth $22,003,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Blue Trust Inc. bought a new stake in shares of RenaissanceRe during the second quarter worth approximately $27,000. ORG Wealth Partners LLC acquired a new stake in RenaissanceRe during the 3rd quarter worth $30,000. V Square Quantitative Management LLC acquired a new stake in RenaissanceRe during the 2nd quarter worth $31,000. UMB Bank n.a. raised its position in shares of RenaissanceRe by 316.7% during the 3rd quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 95 shares during the last quarter. Finally, Advisors Asset Management Inc. acquired a new position in shares of RenaissanceRe in the 3rd quarter valued at $45,000. 99.97% of the stock is currently owned by institutional investors and hedge funds.

RenaissanceRe Stock Performance

RNR opened at $285.44 on Thursday. The company has a market capitalization of $14.83 billion, a price-to-earnings ratio of 4.11, a P/E/G ratio of 1.36 and a beta of 0.39. The business’s 50-day moving average price is $269.50 and its two-hundred day moving average price is $245.75. RenaissanceRe Holdings Ltd. has a 1 year low of $188.24 and a 1 year high of $300.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.43 and a quick ratio of 1.43.

RenaissanceRe (NYSE:RNR) last announced its earnings results on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.89 by $2.34. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the firm earned $8.33 EPS. RenaissanceRe’s revenue for the quarter was up 52.1% compared to the same quarter last year. Equities analysts expect that RenaissanceRe Holdings Ltd. will post 41.94 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Friday, December 13th. RenaissanceRe’s dividend payout ratio is presently 2.25%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RNR. Evercore ISI lifted their price objective on RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a research note on Thursday, November 7th. Jefferies Financial Group upped their price target on RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Bank of America lifted their price objective on shares of RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. upped their target price on shares of RenaissanceRe from $274.00 to $280.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Keefe, Bruyette & Woods cut their target price on shares of RenaissanceRe from $316.00 to $310.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, RenaissanceRe currently has an average rating of “Hold” and an average target price of $293.00.

Insider Buying and Selling

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $269.00, for a total transaction of $269,000.00. Following the sale, the executive vice president now directly owns 83,044 shares of the company’s stock, valued at $22,338,836. The trade was a 1.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 1.30% of the stock is currently owned by corporate insiders.

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.