VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Stake in RenaissanceRe Holdings Ltd. $RNR

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,337 shares of the insurance provider's stock, valued at approximately $325,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its holdings in RenaissanceRe by 37.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,496,035 shares of the insurance provider's stock valued at $599,049,000 after acquiring an additional 676,125 shares during the period. Boston Partners raised its holdings in RenaissanceRe by 4.6% during the 1st quarter. Boston Partners now owns 2,106,207 shares of the insurance provider's stock valued at $505,509,000 after acquiring an additional 92,825 shares during the period. Cooke & Bieler LP raised its holdings in RenaissanceRe by 18.0% during the 1st quarter. Cooke & Bieler LP now owns 1,247,742 shares of the insurance provider's stock valued at $299,458,000 after acquiring an additional 190,139 shares during the period. Dimensional Fund Advisors LP raised its holdings in RenaissanceRe by 15.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 763,210 shares of the insurance provider's stock valued at $183,175,000 after acquiring an additional 101,060 shares during the period. Finally, Lord Abbett & CO. LLC raised its holdings in RenaissanceRe by 15.2% during the 1st quarter. Lord Abbett & CO. LLC now owns 466,823 shares of the insurance provider's stock valued at $112,038,000 after acquiring an additional 61,465 shares during the period. Institutional investors own 99.97% of the company's stock.

RenaissanceRe Stock Up 0.0%

Shares of NYSE:RNR opened at $243.29 on Friday. RenaissanceRe Holdings Ltd. has a 52-week low of $219.00 and a 52-week high of $300.00. The firm has a fifty day moving average of $248.42 and a 200 day moving average of $244.18. The firm has a market capitalization of $11.45 billion, a PE ratio of 6.22, a price-to-earnings-growth ratio of 2.04 and a beta of 0.27. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.36 and a current ratio of 1.36.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The insurance provider reported $12.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.28 by $2.01. RenaissanceRe had a net margin of 15.44% and a return on equity of 15.00%. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same period in the previous year, the business earned $12.41 earnings per share. The firm's quarterly revenue was down 2.4% compared to the same quarter last year. As a group, research analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a $0.40 dividend. The ex-dividend date was Monday, September 15th. This represents a $1.60 annualized dividend and a yield of 0.7%. RenaissanceRe's payout ratio is 4.09%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company boosted their target price on shares of RenaissanceRe from $269.00 to $278.00 and gave the company an "equal weight" rating in a report on Wednesday, October 8th. UBS Group upped their price target on shares of RenaissanceRe from $265.00 to $272.00 and gave the stock a "neutral" rating in a report on Wednesday, October 8th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of RenaissanceRe in a report on Wednesday, October 8th. Cantor Fitzgerald raised shares of RenaissanceRe to a "hold" rating in a report on Wednesday, August 13th. Finally, The Goldman Sachs Group started coverage on shares of RenaissanceRe in a report on Tuesday, October 14th. They issued a "sell" rating and a $256.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $283.08.

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.

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