Johnson Investment Counsel Inc Lowers stake in RenaissanceRe Holdings Ltd. (RNR)

RenaissanceRe Holdings Ltd. (RNR) : Johnson Investment Counsel Inc reduced its stake in RenaissanceRe Holdings Ltd. by 1.75% during the most recent quarter end. The investment management company now holds a total of 258,848 shares of RenaissanceRe Holdings Ltd. which is valued at $33,797,783 after selling 4,614 shares in RenaissanceRe Holdings Ltd. , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.RenaissanceRe Holdings Ltd. makes up approximately 1.09% of Johnson Investment Counsel Inc’s portfolio.

Other Hedge Funds, Including , Pictet Asset Management Ltd boosted its stake in RNR in the latest quarter, The investment management firm added 4,400 additional shares and now holds a total of 80,187 shares of RenaissanceRe Holdings Ltd. which is valued at $10,470,017. RenaissanceRe Holdings Ltd. makes up approx 0.04% of Pictet Asset Management Ltd’s portfolio.Blackrock Institutional Trust Company N.a. reduced its stake in RNR by selling 40,436 shares or 2.86% in the most recent quarter. The Hedge Fund company now holds 1,371,367 shares of RNR which is valued at $172,092,845. RenaissanceRe Holdings Ltd. makes up approx 0.03% of Blackrock Institutional Trust Company N.a.’s portfolio.First Manhattan Co reduced its stake in RNR by selling 6,200 shares or 30.48% in the most recent quarter. The Hedge Fund company now holds 14,142 shares of RNR which is valued at $1,741,022. RenaissanceRe Holdings Ltd. makes up approx 0.01% of First Manhattan Co’s portfolio.

RenaissanceRe Holdings Ltd. closed down -0.09 points or -0.07% at $131.78 with 2,28,238 shares getting traded on Monday. Post opening the session at $131.76, the shares hit an intraday low of $131.1174 and an intraday high of $132.29 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, RenaissanceRe Holdings Ltd. reported $2.09 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Nov 1, 2016. Analyst had a consensus of $2.17. The company had revenue of $442.47 million for the quarter, compared to analysts expectations of $424.00 million. The company’s revenue was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.58 EPS.

Investors should note that on Nov 10, 2016, RenaissanceRe Holdings Ltd. announced a cash dividend of $0.3100. The company’s management has announced Dec 13, 2016 as the ex-dividend date and fixed the record date on Dec 15, 2016. The payable date has been fixed on Dec 30, 2016.

Many Wall Street Analysts have commented on RenaissanceRe Holdings Ltd.. RenaissanceRe Holdings Ltd. was Upgraded by Goldman to ” Neutral” on Nov 15, 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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