Pictet Asset Management SA Has $482,000 Stock Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Pictet Asset Management SA lowered its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNRGet Rating) by 36.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 3,080 shares of the insurance provider’s stock after selling 1,794 shares during the period. Pictet Asset Management SA’s holdings in RenaissanceRe were worth $482,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new stake in RenaissanceRe in the 1st quarter valued at approximately $739,000. Gladstone Capital Management LLP grew its holdings in RenaissanceRe by 18.0% in the 1st quarter. Gladstone Capital Management LLP now owns 991,194 shares of the insurance provider’s stock valued at $157,114,000 after buying an additional 151,079 shares during the last quarter. Candriam S.C.A. acquired a new stake in shares of RenaissanceRe during the 2nd quarter worth approximately $6,705,000. People s United Financial Inc. acquired a new stake in shares of RenaissanceRe during the 1st quarter worth approximately $235,000. Finally, Whittier Trust Co. grew its holdings in shares of RenaissanceRe by 1.5% during the 2nd quarter. Whittier Trust Co. now owns 12,440 shares of the insurance provider’s stock worth $1,945,000 after purchasing an additional 187 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

RenaissanceRe Price Performance

RenaissanceRe stock opened at $185.24 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market capitalization of $8.10 billion, a PE ratio of -5.93 and a beta of 0.36. RenaissanceRe Holdings Ltd. has a one year low of $124.18 and a one year high of $187.88. The business has a 50 day simple moving average of $153.86 and a 200 day simple moving average of $147.28.

RenaissanceRe Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 15th will be given a dividend of $0.37 per share. The ex-dividend date is Wednesday, December 14th. This represents a $1.48 annualized dividend and a dividend yield of 0.80%. RenaissanceRe’s dividend payout ratio (DPR) is presently -4.74%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on RNR shares. Morgan Stanley lifted their price objective on RenaissanceRe from $150.00 to $195.00 and gave the stock an “equal weight” rating in a report on Tuesday. Wells Fargo & Company lifted their price objective on RenaissanceRe from $171.00 to $184.00 in a report on Thursday, November 3rd. Finally, StockNews.com raised RenaissanceRe from a “sell” rating to a “hold” rating in a report on Friday, November 18th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, RenaissanceRe has an average rating of “Hold” and a consensus target price of $180.33.

RenaissanceRe Profile

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RenaissanceRe Holdings Ltd. 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 retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising 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.

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Institutional Ownership by Quarter for RenaissanceRe (NYSE:RNR)

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