California State Teachers Retirement System Has $15.94 Million Stake in RenaissanceRe Holdings Ltd. $RNR

California State Teachers Retirement System trimmed its position in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 6.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,296 shares of the insurance provider's stock after selling 3,390 shares during the quarter. California State Teachers Retirement System owned 0.12% of RenaissanceRe worth $15,938,802 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of RenaissanceRe in the 2nd quarter valued at about $1,319,724,000. Boston Partners grew its stake in RenaissanceRe by 9.9% during the 4th quarter. Boston Partners now owns 1,423,483 shares of the insurance provider's stock valued at $400,150,000 after purchasing an additional 128,245 shares during the last quarter. Lightrock Netherlands B.V. raised its stake in RenaissanceRe by 15.8% in the 1st quarter. Lightrock Netherlands B.V. now owns 1,178,423 shares of the insurance provider's stock valued at $350,263,000 after purchasing an additional 160,915 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of RenaissanceRe by 5.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,085,380 shares of the insurance provider's stock valued at $322,603,000 after purchasing an additional 52,371 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of RenaissanceRe during the fourth quarter worth approximately $168,582,000. 99.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RNR has been the subject of several research reports. Keefe, Bruyette & Woods raised their price objective on shares of RenaissanceRe from $342.00 to $350.00 and gave the company a "market perform" rating in a research report on Monday, July 27th. TD Cowen upped their target price on shares of RenaissanceRe from $300.00 to $315.00 and gave the stock a "hold" rating in a research note on Tuesday, July 7th. Morgan Stanley upped their target price on RenaissanceRe from $310.00 to $320.00 and gave the stock an "equal weight" rating in a report on Monday, July 6th. JPMorgan Chase & Co. increased their price target on RenaissanceRe from $329.00 to $360.00 and gave the company a "neutral" rating in a report on Monday, July 20th. Finally, UBS Group set a $349.00 price target on RenaissanceRe and gave the stock a "neutral" rating in a research report on Monday, July 27th. Five research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $336.33.

RenaissanceRe Stock Down 1.0%

NYSE:RNR traded down $3.38 on Tuesday, hitting $327.24. 86,424 shares of the company's stock were exchanged, compared to its average volume of 348,371. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38. The firm has a 50-day moving average price of $323.57 and a 200-day moving average price of $308.48. RenaissanceRe Holdings Ltd. has a 52 week low of $231.17 and a 52 week high of $340.24. The company has a market cap of $13.60 billion, a P/E ratio of 5.62, a price-to-earnings-growth ratio of 1.18 and a beta of 0.17.

RenaissanceRe (NYSE:RNR - Get Free Report) last issued its earnings results on Tuesday, June 30th. The insurance provider reported $12.92 EPS for the quarter. RenaissanceRe had a return on equity of 23.10% and a net margin of 23.65%.The business had revenue of $2.77 billion during the quarter. As a group, analysts expect that RenaissanceRe Holdings Ltd. will post 42.4 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

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

Insider Transactions at RenaissanceRe

In related news, EVP Robert Qutub sold 5,000 shares of the business's stock in a transaction on 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 sale, the executive vice president owned 72,907 shares in the company, valued at approximately $24,280,218.21. The trade was a 6.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.30% of the company's stock.

RenaissanceRe Profile

RenaissanceRe Holdings Ltd. is a Bermuda-based global reinsurance and specialty insurance company. Founded in 1993, the company initially focused on property catastrophe reinsurance and has expanded its operations to serve insurers, businesses and other risk-bearing organizations worldwide.

RenaissanceRe provides reinsurance and insurance solutions covering property, casualty and specialty risks. Its property business includes protection against hurricanes, earthquakes, severe weather and other catastrophe-related events, while its casualty and specialty operations address risks such as liability, professional lines and other complex commercial exposures.

The company also manages and supports insurance-linked securities and other third-party capital strategies, allowing investors to participate in selected insurance risks.

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