RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 112,044 shares of the insurance provider's stock after selling 3,210 shares during the period. Retirement Systems of Alabama owned about 0.23% of RenaissanceRe worth $26,891,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in RNR. Aster Capital Management DIFC Ltd acquired a new stake in RenaissanceRe in the 4th quarter valued at $27,000. SBI Securities Co. Ltd. purchased a new position in RenaissanceRe during the fourth quarter valued at $29,000. Jones Financial Companies Lllp lifted its holdings in RenaissanceRe by 1,587.5% during the fourth quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock valued at $34,000 after purchasing an additional 127 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of RenaissanceRe by 71.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock valued at $39,000 after purchasing an additional 65 shares during the period. Finally, Huntington National Bank increased its stake in shares of RenaissanceRe by 179.3% during the fourth quarter. Huntington National Bank now owns 257 shares of the insurance provider's stock worth $64,000 after purchasing an additional 165 shares in the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at RenaissanceRe

In other news, CAO James Christopher Fraser sold 332 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $249.54, for a total transaction 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.30% of the company's stock.

RenaissanceRe Trading Down 0.3%

NYSE:RNR traded down $0.71 during trading hours on Friday, hitting $244.50. The company had a trading volume of 996,147 shares, compared to its average volume of 442,193. RenaissanceRe Holdings Ltd. has a 1 year low of $208.98 and a 1 year high of $300.00. The company has a market cap of $11.89 billion, a P/E ratio of 7.80, a P/E/G ratio of 2.93 and a beta of 0.31. The company has a 50-day moving average of $243.37 and a 200 day moving average of $244.41. 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 (NYSE:RNR - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.32) by ($1.17). RenaissanceRe had a net margin of 13.26% and a return on equity of 15.90%. The firm had revenue of $3.44 billion during the quarter, compared to analysts' expectations of $3.36 billion. During the same period in the prior year, the company posted $12.18 EPS. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. Sell-side analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.65%. RenaissanceRe's dividend payout ratio (DPR) is 5.10%.

Analyst Upgrades and Downgrades

RNR has been the topic of a number of research reports. Jefferies Financial Group decreased their price target on shares of RenaissanceRe from $266.00 to $265.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. JPMorgan Chase & Co. upgraded RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 target price on the stock in a research report on Tuesday, April 8th. Wells Fargo & Company dropped their price target on RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. JMP Securities restated a "market perform" rating on shares of RenaissanceRe in a report on Thursday, April 24th. Finally, Barclays lowered their target price on shares of RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating on the stock in a research note on Friday, April 11th. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, RenaissanceRe has an average rating of "Hold" and an average price target of $283.60.

RenaissanceRe 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.