Moon Capital Management Lowers stake in RenaissanceRe Holdings Ltd. (RNR)

RenaissanceRe Holdings Ltd. (RNR) : Moon Capital Management reduced its stake in RenaissanceRe Holdings Ltd. by 2.79% during the most recent quarter end. The investment management company now holds a total of 37,450 shares of RenaissanceRe Holdings Ltd. which is valued at $4,337,834 after selling 1,074 shares in RenaissanceRe Holdings Ltd. , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.RenaissanceRe Holdings Ltd. makes up approximately 5.23% of Moon Capital Management’s portfolio.

Other Hedge Funds, Including , Nordea Investment Management Ab boosted its stake in RNR in the latest quarter, The investment management firm added 92 additional shares and now holds a total of 560 shares of RenaissanceRe Holdings Ltd. which is valued at $64,865.James Investment Research Inc reduced its stake in RNR by selling 6,072 shares or 27.41% in the most recent quarter. The Hedge Fund company now holds 16,077 shares of RNR which is valued at $1,858,501. RenaissanceRe Holdings Ltd. makes up approx 0.05% of James Investment Research Inc’s portfolio.Capstone Asset Management Co reduced its stake in RNR by selling 30 shares or 0.49% in the most recent quarter. The Hedge Fund company now holds 6,062 shares of RNR which is valued at $703,313. RenaissanceRe Holdings Ltd. makes up approx 0.02% of Capstone Asset Management Co’s portfolio.British Columbia Investment Management Corp reduced its stake in RNR by selling 13,649 shares or 39.75% in the most recent quarter. The Hedge Fund company now holds 20,688 shares of RNR which is valued at $2,399,394. RenaissanceRe Holdings Ltd. makes up approx 0.02% of British Columbia Investment Management Corp’s portfolio.

RenaissanceRe Holdings Ltd. opened for trading at $115.88 and hit $116.27 on the upside on Wednesday, eventually ending the session at $115.83, with a gain of 0.20% or 0.23 points. The heightened volatility saw the trading volume jump to 1,35,323 shares. Company has a market cap of $4,992 M.

On the company’s financial health, RenaissanceRe Holdings Ltd. reported $1.51 EPS for the quarter, missing the analyst consensus estimate by $ -1.19 based on the information available during the earnings call on Apr 26, 2016. Analyst had a consensus of $2.70. The company had revenue of $448.12 million for the quarter, compared to analysts expectations of $398.98 million. The company’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.10 EPS.

Many Wall Street Analysts have commented on RenaissanceRe Holdings Ltd.. RenaissanceRe Holdings Ltd. was Downgraded by Keefe Bruyette to ” Mkt Perform” on Jul 11, 2016. RenaissanceRe Holdings Ltd. was Downgraded by Citigroup to ” Neutral” on Apr 28, 2016.

RenaissanceRe Holdings Ltd. provides reinsurance and insurance coverages and related services. The Company’s core products include property catastrophe reinsurance specialty reinsurance risks and certain insurance products. Its operating segments include Catastrophe Reinsurance Specialty Reinsurance and Lloyd’s. Catastrophe Reinsurance offers coverage against natural catastrophes such as earthquakes hurricanes and tsunamis as well as other natural and manmade catastrophes. Specialty Reinsurance offers coverage in aviation casualty clash catastrophe exposed personal lines property. Lloyd’s underwriting platform provides access to Lloyd’s distribution network. Property catastrophe reinsurance is written for own account for DaVinci and for other joint ventures. It writes specialty reinsurance for own account and for DaVinci covering certain targeted classes of business. The Lloyd’s segment includes insurance and reinsurance business written for own account through Syndicate 1458.

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