RenaissanceRe Holdings Ltd. (RNR) Position Lifted by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System increased its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 5.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,300 shares of the insurance provider’s stock after purchasing an additional 600 shares during the period. Louisiana State Employees Retirement System’s holdings in RenaissanceRe were worth $1,622,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of RenaissanceRe by 4.1% in the fourth quarter. BlackRock Inc. now owns 4,898,599 shares of the insurance provider’s stock worth $654,941,000 after purchasing an additional 193,506 shares during the period. Vanguard Group Inc. increased its position in shares of RenaissanceRe by 1.5% in the third quarter. Vanguard Group Inc. now owns 4,103,600 shares of the insurance provider’s stock worth $548,159,000 after purchasing an additional 59,867 shares during the period. Vanguard Group Inc increased its position in shares of RenaissanceRe by 1.5% in the third quarter. Vanguard Group Inc now owns 4,103,600 shares of the insurance provider’s stock worth $548,159,000 after purchasing an additional 59,867 shares during the period. Boston Partners increased its position in shares of RenaissanceRe by 144.6% in the fourth quarter. Boston Partners now owns 1,340,903 shares of the insurance provider’s stock worth $179,279,000 after purchasing an additional 792,675 shares during the period. Finally, Polar Capital LLP increased its position in shares of RenaissanceRe by 1.9% in the fourth quarter. Polar Capital LLP now owns 519,650 shares of the insurance provider’s stock worth $69,477,000 after purchasing an additional 9,650 shares during the period. Institutional investors own 95.72% of the company’s stock.

In other RenaissanceRe news, SVP Ian D. Branagan sold 2,000 shares of RenaissanceRe stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $153.00, for a total value of $306,000.00. Following the transaction, the senior vice president now owns 52,617 shares in the company, valued at $8,050,401. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Ross Curtis sold 7,500 shares of RenaissanceRe stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $152.00, for a total value of $1,140,000.00. Following the completion of the transaction, the senior vice president now owns 105,503 shares in the company, valued at approximately $16,036,456. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,750 shares of company stock worth $1,628,463. Company insiders own 1.60% of the company’s stock.

A number of research analysts recently commented on the company. ValuEngine cut RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. Zacks Investment Research upgraded RenaissanceRe from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a research report on Monday, April 1st. UBS Group raised their price target on RenaissanceRe from $144.00 to $153.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 9th. Barclays cut RenaissanceRe from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $130.00 to $125.00 in a research report on Wednesday, January 9th. They noted that the move was a valuation call. Finally, Wells Fargo & Co reiterated a “hold” rating and issued a $125.00 target price on shares of RenaissanceRe in a research report on Tuesday, January 29th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. RenaissanceRe currently has a consensus rating of “Hold” and an average price target of $146.36.

RenaissanceRe stock opened at $154.35 on Wednesday. RenaissanceRe Holdings Ltd. has a 12-month low of $117.35 and a 12-month high of $152.80. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $6.43 billion, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 1.39 and a beta of 0.49.

RenaissanceRe (NYSE:RNR) last released its earnings results on Tuesday, January 29th. The insurance provider reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.93) by $1.95. RenaissanceRe had a return on equity of 9.18% and a net margin of 10.96%. The firm had revenue of $633.44 million for the quarter, compared to analysts’ expectations of $545.60 million. As a group, equities analysts anticipate that RenaissanceRe Holdings Ltd. will post 11.51 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Thursday, March 14th. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.33. RenaissanceRe’s payout ratio is currently 14.83%.

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RenaissanceRe Profile

RenaissanceRe Holdings Ltd. 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 retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including earthquakes, hurricanes, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising 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, and binding facilities and regional U.S.

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Institutional Ownership by Quarter for RenaissanceRe (NYSE:RNR)

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