RenaissanceRe Holdings Ltd. (NYSE:RNR) Holdings Trimmed by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 20.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,781 shares of the insurance provider's stock after selling 2,468 shares during the quarter. Teacher Retirement System of Texas' holdings in RenaissanceRe were worth $2,347,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd acquired a new position in RenaissanceRe during the fourth quarter worth approximately $27,000. SBI Securities Co. Ltd. purchased a new stake in shares of RenaissanceRe in the fourth quarter valued at approximately $29,000. Jones Financial Companies Lllp boosted its stake in shares of RenaissanceRe by 1,587.5% in the fourth quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock valued at $34,000 after buying an additional 127 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in RenaissanceRe by 71.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock worth $39,000 after purchasing an additional 65 shares in the last quarter. Finally, Tsfg LLC purchased a new stake in RenaissanceRe during the first quarter worth $40,000. Hedge funds and other institutional investors own 99.97% of the company's stock.

Insider Activity

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 value of $82,847.28. Following the completion of the transaction, the chief accounting officer owned 27,154 shares of the company's stock, valued at approximately $6,776,009.16. This represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

RNR has been the topic of several recent research reports. JPMorgan Chase & Co. upgraded RenaissanceRe from a "neutral" rating to an "overweight" rating and set a $284.00 price objective on the stock in a research report on Tuesday, April 8th. Jefferies Financial Group dropped their target price on RenaissanceRe from $266.00 to $265.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Barclays upgraded RenaissanceRe from an "underweight" rating to an "equal weight" rating and upped their price target for the stock from $231.00 to $256.00 in a research note on Monday, July 7th. Bank of America dropped their price target on RenaissanceRe from $437.00 to $426.00 and set a "buy" rating for the company in a research note on Wednesday, March 26th. Finally, Wells Fargo & Company restated an "equal weight" rating and issued a $269.00 price target (up previously from $267.00) on shares of RenaissanceRe in a report on Thursday. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $288.56.

RenaissanceRe Stock Performance

Shares of RNR stock traded down $1.17 on Friday, hitting $237.27. 279,828 shares of the stock traded hands, compared to its average volume of 446,468. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.36 and a quick ratio of 1.36. The company has a market capitalization of $11.54 billion, a PE ratio of 7.57, a PEG ratio of 2.86 and a beta of 0.30. RenaissanceRe Holdings Ltd. has a 1-year low of $210.51 and a 1-year high of $300.00. The company's fifty day moving average is $244.00 and its 200 day moving average is $242.26.

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

RenaissanceRe Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.67%. The ex-dividend date was Friday, June 13th. RenaissanceRe's dividend payout ratio is presently 5.10%.

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.