California State Teachers Retirement System Lowers Stock Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

California State Teachers Retirement System lessened its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 48,739 shares of the insurance provider's stock after selling 1,197 shares during the quarter. California State Teachers Retirement System owned 0.10% of RenaissanceRe worth $12,127,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of RenaissanceRe in the 4th quarter valued at about $316,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of RenaissanceRe in the 4th quarter valued at about $1,508,000. Mackenzie Financial Corp lifted its holdings in shares of RenaissanceRe by 25.3% in the 4th quarter. Mackenzie Financial Corp now owns 16,962 shares of the insurance provider's stock valued at $4,220,000 after buying an additional 3,428 shares during the period. Forum Financial Management LP lifted its holdings in shares of RenaissanceRe by 40.3% in the 4th quarter. Forum Financial Management LP now owns 1,392 shares of the insurance provider's stock valued at $346,000 after buying an additional 400 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of RenaissanceRe in the 4th quarter valued at about $5,227,000. Institutional investors and hedge funds own 99.97% of the company's stock.

Insider Buying and Selling

In related news, CAO James Christopher Fraser sold 332 shares of the 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 transaction, the chief accounting officer now directly owns 27,154 shares in the company, valued at approximately $6,776,009.16. This represents a 1.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

RNR has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price target for the company in a report on Tuesday, April 8th. Morgan Stanley set a $285.00 price target on RenaissanceRe and gave the stock an "overweight" rating in a report on Monday, May 19th. Jefferies Financial Group reduced their price target on RenaissanceRe from $266.00 to $265.00 and set a "hold" rating for the company in a report on Friday, April 11th. JMP Securities reaffirmed a "market perform" rating on shares of RenaissanceRe in a report on Thursday, April 24th. Finally, Bank of America reduced their price target on RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a report on Wednesday, March 26th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $283.60.

RenaissanceRe Price Performance

Shares of NYSE:RNR traded down $3.98 during midday trading on Wednesday, hitting $246.94. The company had a trading volume of 313,178 shares, compared to its average volume of 434,488. RenaissanceRe Holdings Ltd. has a twelve month low of $208.98 and a twelve month high of $300.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market cap of $12.01 billion, a price-to-earnings ratio of 7.05, a price-to-earnings-growth ratio of 2.09 and a beta of 0.34. The business's 50-day simple moving average is $241.33 and its 200-day simple moving average is $247.35.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) EPS for the quarter, missing the consensus estimate of ($0.32) by ($1.17). The company had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.36 billion. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. RenaissanceRe's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business posted $12.18 EPS. On average, research analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a $0.40 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.60 annualized dividend and a yield of 0.65%. RenaissanceRe's payout ratio is 5.10%.

About RenaissanceRe

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.