Bridgewater Associates LP Cuts Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Bridgewater Associates LP decreased its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 53.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,889 shares of the insurance provider's stock after selling 23,291 shares during the period. Bridgewater Associates LP's holdings in RenaissanceRe were worth $5,418,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of RNR. Wedge Capital Management L L P NC bought a new position in shares of RenaissanceRe in the second quarter worth about $2,887,000. Intech Investment Management LLC raised its stake in RenaissanceRe by 52.9% during the 2nd quarter. Intech Investment Management LLC now owns 7,193 shares of the insurance provider's stock worth $1,608,000 after acquiring an additional 2,490 shares during the period. Atria Investments Inc purchased a new position in RenaissanceRe during the first quarter valued at approximately $1,168,000. Algert Global LLC bought a new position in shares of RenaissanceRe in the second quarter worth approximately $1,186,000. Finally, National Bank of Canada FI boosted its position in shares of RenaissanceRe by 1,381.3% in the second quarter. National Bank of Canada FI now owns 5,377 shares of the insurance provider's stock worth $1,189,000 after purchasing an additional 5,014 shares during the period. 99.97% of the stock is owned by institutional investors.

RenaissanceRe Price Performance

NYSE:RNR traded up $0.71 during trading hours on Friday, reaching $286.15. The stock had a trading volume of 244,225 shares, compared to its average volume of 358,827. The company has a 50 day moving average price of $270.90 and a two-hundred day moving average price of $246.73. RenaissanceRe Holdings Ltd. has a 52 week low of $188.24 and a 52 week high of $300.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.43 and a current ratio of 1.43. The stock has a market capitalization of $14.86 billion, a PE ratio of 4.12, a PEG ratio of 1.39 and a beta of 0.39.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.89 by $2.34. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. The firm had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.35 billion. During the same period last year, the business posted $8.33 earnings per share. The company's revenue for the quarter was up 52.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that RenaissanceRe Holdings Ltd. will post 41.94 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.55%. RenaissanceRe's dividend payout ratio (DPR) is presently 2.25%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. StockNews.com cut shares of RenaissanceRe from a "buy" rating to a "hold" rating in a research note on Tuesday, October 22nd. Wells Fargo & Company raised their price target on RenaissanceRe from $280.00 to $314.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods dropped their price objective on RenaissanceRe from $316.00 to $310.00 and set an "outperform" rating for the company in a research note on Tuesday, November 12th. Evercore ISI increased their target price on RenaissanceRe from $229.00 to $246.00 and gave the stock an "underperform" rating in a research report on Thursday, November 7th. Finally, Barclays initiated coverage on RenaissanceRe in a report on Wednesday, September 4th. They issued an "equal weight" rating and a $287.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $293.00.

Insider Buying and Selling at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the business's stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $279.00, for a total value of $279,000.00. Following the completion of the transaction, the executive vice president now owns 82,044 shares of the company's stock, valued at $22,890,276. The trade was a 1.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.30% of the stock is owned by corporate insiders.

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.