Teacher Retirement System of Texas Sells 5,320 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Teacher Retirement System of Texas trimmed its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNRFree Report) by 27.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,935 shares of the insurance provider’s stock after selling 5,320 shares during the quarter. Teacher Retirement System of Texas’ holdings in RenaissanceRe were worth $2,731,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of RenaissanceRe during the third quarter worth approximately $143,000. California Public Employees Retirement System increased its stake in shares of RenaissanceRe by 14.0% in the 3rd quarter. California Public Employees Retirement System now owns 167,146 shares of the insurance provider’s stock valued at $33,082,000 after buying an additional 20,493 shares during the period. Markel Group Inc. raised its position in shares of RenaissanceRe by 36.1% during the third quarter. Markel Group Inc. now owns 49,000 shares of the insurance provider’s stock worth $9,698,000 after acquiring an additional 13,000 shares during the last quarter. Capula Management Ltd acquired a new position in shares of RenaissanceRe during the third quarter valued at $245,000. Finally, Arizona State Retirement System boosted its holdings in RenaissanceRe by 3.6% in the third quarter. Arizona State Retirement System now owns 14,571 shares of the insurance provider’s stock valued at $2,884,000 after acquiring an additional 512 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

RenaissanceRe Price Performance

NYSE RNR opened at $222.97 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.41 and a current ratio of 1.41. The stock has a market cap of $11.79 billion, a price-to-earnings ratio of 4.93, a PEG ratio of 1.94 and a beta of 0.31. The business has a 50 day simple moving average of $226.25 and a 200 day simple moving average of $216.78. RenaissanceRe Holdings Ltd. has a 52-week low of $174.22 and a 52-week high of $239.42.

RenaissanceRe (NYSE:RNRGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The insurance provider reported $12.18 EPS for the quarter, beating the consensus estimate of $9.86 by $2.32. The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.05 billion. RenaissanceRe had a net margin of 24.79% and a return on equity of 27.09%. The firm’s revenue was up 41.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.16 EPS. Analysts anticipate that RenaissanceRe Holdings Ltd. will post 36.42 earnings per share for the current fiscal year.

RenaissanceRe Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Friday, June 14th. RenaissanceRe’s dividend payout ratio is presently 3.45%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on RNR shares. JPMorgan Chase & Co. raised their target price on shares of RenaissanceRe from $237.00 to $245.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. BMO Capital Markets raised their price objective on shares of RenaissanceRe from $216.00 to $295.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Evercore ISI upped their target price on shares of RenaissanceRe from $216.00 to $218.00 and gave the company an “underperform” rating in a research report on Wednesday, May 1st. Finally, UBS Group raised their target price on RenaissanceRe from $229.00 to $238.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $249.00.

Read Our Latest Analysis on RenaissanceRe

RenaissanceRe Profile

(Free Report)

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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Institutional Ownership by Quarter for RenaissanceRe (NYSE:RNR)

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