Hedge Funds Sentiment Indicator of Renaissancere Holdings LTD (NYSE:RNR) Improves in Q2 2015

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Renaissancere Holdings LTD

Renaissancere Holdings LTD (NYSE:RNR) Sentiment

Renaissancere Holdings LTD (NYSE:RNR) hedge funds sentiment decreased to 1.11 in Q2 2015. Its down -0.49, from 1.6 in 2015Q1. The sentiment turned negative, as 148 investment professionals increased or started new equity positions, while 133 reduced and sold their positions in Renaissancere Holdings LTD. The investment professionals in our database now hold: 42.40 million shares, up from 41.93 million shares in 2015Q1. At the same time, the number of investment professionals holding Renaissancere Holdings LTD in their top 10 equity positions was flat from 4 to 4 for the same number . Sold All: 32 Reduced: 101 Increased: 96 New Position: 52. John Breece, analyst at in our firm noted:

A bullish scenario about Renaissancere Holdings LTD (NYSE:RNR) is getting more unlikely with such a significant change in hedge fund Positioning. We can only guess about the motives for this big selling but we think it has to do with trend and value.

Sentiment Chart

Top Renaissancere Holdings LTD Holders

Arga Investment Management Lp had the largest stake with ownership of 431,700 shares as of Q2 2015 for 11.83% of the US long equity exposure. Abrams Bison Investments Llc is another bullish investment manager who is having 625,657 shares of Renaissancere Holdings LTD or 5.93% of their US long equity exposure. Also, Lagoda Investment Management L.P. have 5.29% of their US long equity exposure invested in the company for 198,820 shares. The Minnesota-based fund Nepsis Capital Management Inc. disclosed it had acquired so far a stake worth about 4.06% of the investment manager’s stock portfolio in Renaissancere Holdings LTD. The Pennsylvania-based fund Cooke & Bieler Lp is also positive about the stock, possessing 58,004 shares or 3.01% of their US long equity exposure.

Recent Renaissancere Holdings LTD Analyst Ratings

Out of 11 analysts covering RenaissanceRe Holdings, 4 rate it “Buy”, 1 “Sell”, while 6 “Hold”. This means 36% of RenaissanceRe Holdings’s analysts are positive. $124 is the highest target while $92 is the lowest. The stock has $112.45 average target or 1.25% above today’s ($111.06) stock price. RNR was the topic in 28 analyst reports since November 6, 2014 according to StockzIntelligence Inc. Bernstein upgraded RenaissanceRe Holdings’s stock on October 14 to “Mkt Perform” rating. Zacks upgraded it to “Buy” rating and $118 target price in a June 23 report. Nomura maintained the shares of RenaissanceRe Holdings in a report on June 1 with “Reduce” rating. Morgan Stanley reinitiated RNR’s stock on March 9. Morgan Stanley has “Equal Weight” rating and $110 price target. Finally, Deutsche Bank downgraded the shares of RenaissanceRe Holdings to “Hold” rating in an April 20 report.

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Source: Octafinance Hedge Funds Database, Security and Exchange Commission & Quandl

At Octafinance we track more than 4000+ hedge funds and institutional investors, analyze their positions and aggregate the data to produce insightful market analytics. After the release of all quarterly 13F filings, we compile our hedge fund list and sentiment data for thousands of stocks and Renaissancere Holdings LTD including.


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