Louisiana State Employees Retirement System Takes Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Louisiana State Employees Retirement System bought a new position in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 14,700 shares of the insurance provider's stock, valued at approximately $2,881,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Snowden Capital Advisors LLC increased its stake in shares of RenaissanceRe by 4.9% during the first quarter. Snowden Capital Advisors LLC now owns 1,166 shares of the insurance provider's stock worth $234,000 after buying an additional 54 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in shares of RenaissanceRe by 1.7% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 3,557 shares of the insurance provider's stock valued at $704,000 after purchasing an additional 59 shares during the last quarter. Xponance Inc. raised its holdings in shares of RenaissanceRe by 1.0% in the 3rd quarter. Xponance Inc. now owns 7,590 shares of the insurance provider's stock valued at $1,502,000 after purchasing an additional 75 shares in the last quarter. Advisor Partners II LLC lifted its position in shares of RenaissanceRe by 6.2% during the 1st quarter. Advisor Partners II LLC now owns 1,454 shares of the insurance provider's stock worth $291,000 after purchasing an additional 85 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of RenaissanceRe by 0.5% during the third quarter. Nordea Investment Management AB now owns 16,652 shares of the insurance provider's stock worth $3,352,000 after purchasing an additional 89 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $209.05, for a total value of $209,050.00. Following the sale, the executive vice president now owns 80,449 shares of the company's stock, valued at approximately $16,817,863.45. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP David E. Marra sold 750 shares of the business's stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $229.00, for a total transaction of $171,750.00. Following the sale, the executive vice president now directly owns 79,699 shares of the company's stock, valued at $18,251,071. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David E. Marra sold 1,000 shares of the firm's stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $209.05, for a total transaction of $209,050.00. Following the completion of the transaction, the executive vice president now owns 80,449 shares of the company's stock, valued at $16,817,863.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,130 shares of company stock worth $1,167,479. 1.80% of the stock is currently owned by corporate insiders.

RenaissanceRe Trading Up 0.7 %

NYSE:RNR traded up $1.53 on Tuesday, reaching $215.11. The stock had a trading volume of 252,327 shares, compared to its average volume of 363,333. The company has a market cap of $11.34 billion, a price-to-earnings ratio of 4.17, a P/E/G ratio of 2.86 and a beta of 0.30. RenaissanceRe Holdings Ltd. has a 12-month low of $174.22 and a 12-month high of $239.42. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.40 and a quick ratio of 1.40. The firm's fifty day moving average is $228.26 and its two-hundred day moving average is $215.21.

RenaissanceRe (NYSE:RNR - Get Free Report) last released its earnings results on Tuesday, January 30th. The insurance provider reported $11.77 earnings per share for the quarter, topping the consensus estimate of $8.13 by $3.64. RenaissanceRe had a return on equity of 26.93% and a net margin of 28.04%. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the prior year, the business posted $7.33 earnings per share. The firm's revenue for the quarter was up 17.9% compared to the same quarter last year. Equities analysts expect that RenaissanceRe Holdings Ltd. will post 34.41 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.39 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.73%. This is an increase from RenaissanceRe's previous quarterly dividend of $0.38. RenaissanceRe's payout ratio is presently 3.05%.

Analyst Ratings Changes

A number of brokerages recently issued reports on RNR. UBS Group upped their price target on RenaissanceRe from $229.00 to $238.00 and gave the company a "neutral" rating in a report on Monday, February 5th. BMO Capital Markets boosted their price target on shares of RenaissanceRe from $216.00 to $295.00 and gave the company an "outperform" rating in a research report on Monday, February 5th. JPMorgan Chase & Co. raised their price target on RenaissanceRe from $204.00 to $237.00 and gave the stock a "neutral" rating in a research note on Monday, April 8th. Evercore ISI boosted their price objective on RenaissanceRe from $213.00 to $216.00 and gave the company an "underperform" rating in a research note on Thursday, April 11th. Finally, TD Cowen initiated coverage on shares of RenaissanceRe in a research report on Wednesday, January 10th. They set a "market perform" rating on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, RenaissanceRe has an average rating of "Hold" and an average target price of $247.89.

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.