California State Teachers Retirement System Raises Stock Position in RenaissanceRe Holdings Ltd. $RNR

California State Teachers Retirement System grew its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 17.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 53,686 shares of the insurance provider's stock after acquiring an additional 8,001 shares during the period. California State Teachers Retirement System owned about 0.13% of RenaissanceRe worth $15,957,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of RNR. Quarry LP grew its stake in RenaissanceRe by 65.0% in the third quarter. Quarry LP now owns 132 shares of the insurance provider's stock worth $34,000 after purchasing an additional 52 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in RenaissanceRe by 235.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider's stock valued at $34,000 after purchasing an additional 94 shares in the last quarter. Kingdom Financial Group LLC. purchased a new stake in shares of RenaissanceRe in the 4th quarter worth $36,000. Mcguire Capital Advisors Inc. purchased a new stake in shares of RenaissanceRe in the 4th quarter worth $38,000. Finally, SBI Securities Co. Ltd. grew its position in shares of RenaissanceRe by 33.6% during the 4th quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider's stock worth $41,000 after buying an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RNR. Weiss Ratings upgraded RenaissanceRe from a "buy (b)" rating to a "buy (b+)" rating in a report on Thursday, June 25th. Wells Fargo & Company boosted their price target on shares of RenaissanceRe from $306.00 to $329.00 and gave the company an "equal weight" rating in a report on Thursday, July 9th. UBS Group set a $349.00 price target on shares of RenaissanceRe and gave the company a "neutral" rating in a report on Monday, July 27th. Morgan Stanley upped their price target on shares of RenaissanceRe from $310.00 to $320.00 and gave the stock an "equal weight" rating in a research report on Monday, July 6th. Finally, Evercore set a $330.00 price objective on shares of RenaissanceRe in a report on Thursday, July 23rd. Five equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $336.33.

Insider Buying and Selling at RenaissanceRe

In other news, EVP Robert Qutub sold 5,000 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $333.03, for a total value of $1,665,150.00. Following the transaction, the executive vice president directly owned 72,907 shares of the company's stock, valued at approximately $24,280,218.21. This represents a 6.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.30% of the company's stock.

RenaissanceRe Trading Up 0.2%

NYSE:RNR opened at $320.50 on Monday. RenaissanceRe Holdings Ltd. has a 12 month low of $231.17 and a 12 month high of $335.97. The firm has a fifty day simple moving average of $307.81 and a 200-day simple moving average of $300.42. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $13.32 billion, a P/E ratio of 5.50, a PEG ratio of 1.18 and a beta of 0.17.

RenaissanceRe (NYSE:RNR - Get Free Report) last released its earnings results on Wednesday, July 22nd. The insurance provider reported $12.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.72 by $1.20. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.57 billion. RenaissanceRe had a return on equity of 23.10% and a net margin of 23.65%.During the same period in the prior year, the firm earned $12.29 EPS. On average, equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 41.94 earnings per share for the current year.

RenaissanceRe Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 0.5%. The ex-dividend date is Tuesday, September 15th. RenaissanceRe's payout ratio is presently 2.81%.

RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.

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