New York State Teachers Retirement System Sells 5,962 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

New York State Teachers Retirement System reduced its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 10.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,154 shares of the insurance provider's stock after selling 5,962 shares during the quarter. New York State Teachers Retirement System owned about 0.10% of RenaissanceRe worth $12,037,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd purchased a new stake in shares of RenaissanceRe during the fourth quarter worth $27,000. SBI Securities Co. Ltd. bought a new stake in shares of RenaissanceRe during the 4th quarter valued at $29,000. Jones Financial Companies Lllp lifted its holdings in RenaissanceRe by 1,587.5% during the 4th quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock worth $34,000 after purchasing an additional 127 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in RenaissanceRe by 71.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock worth $39,000 after purchasing an additional 65 shares during the period. Finally, Tsfg LLC purchased a new position in RenaissanceRe during the 1st quarter valued at about $40,000. 99.97% of the stock is owned by institutional investors.

Insider Transactions at RenaissanceRe

In other RenaissanceRe news, CAO James Christopher Fraser sold 332 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $249.54, for a total value of $82,847.28. Following the completion of the sale, the chief accounting officer owned 27,154 shares in the company, valued at approximately $6,776,009.16. The trade was a 1.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by insiders.

RenaissanceRe Price Performance

Shares of RNR stock traded up $5.07 during trading hours on Friday, hitting $240.90. 332,916 shares of the company's stock were exchanged, compared to its average volume of 445,788. The company has a market capitalization of $11.72 billion, a PE ratio of 7.68, a PEG ratio of 2.83 and a beta of 0.30. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.29. RenaissanceRe Holdings Ltd. has a 12-month low of $208.98 and a 12-month high of $300.00. The business's 50 day simple moving average is $244.02 and its 200-day simple moving average is $242.71.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) EPS for the quarter, missing analysts' consensus estimates of ($0.32) by ($1.17). RenaissanceRe had a return on equity of 15.90% and a net margin of 13.26%. The business had revenue of $3.44 billion during the quarter, compared to analysts' expectations of $3.36 billion. During the same quarter in the previous year, the business earned $12.18 EPS. RenaissanceRe's revenue for the quarter was up 7.6% compared to the same quarter last year. On average, equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.66%. The ex-dividend date was Friday, June 13th. RenaissanceRe's dividend payout ratio is presently 5.10%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods raised their price objective on shares of RenaissanceRe from $279.00 to $282.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. Wells Fargo & Company reduced their price target on shares of RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Morgan Stanley set a $285.00 price objective on RenaissanceRe and gave the stock an "overweight" rating in a research report on Monday, May 19th. JMP Securities restated a "market perform" rating on shares of RenaissanceRe in a research report on Thursday, April 24th. Finally, Jefferies Financial Group lowered their price target on RenaissanceRe from $266.00 to $265.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $283.60.

RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd., together with its subsidiaries, 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 reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as 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.