RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNRFree Report) by 2.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,572 shares of the insurance provider’s stock after selling 754 shares during the period. State of New Jersey Common Pension Fund D owned about 0.06% of RenaissanceRe worth $5,853,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of RNR. Vanguard Group Inc. raised its holdings in shares of RenaissanceRe by 0.3% during the third quarter. Vanguard Group Inc. now owns 4,518,448 shares of the insurance provider’s stock worth $634,345,000 after acquiring an additional 11,838 shares in the last quarter. BlackRock Inc. raised its holdings in shares of RenaissanceRe by 10.8% during the second quarter. BlackRock Inc. now owns 4,503,190 shares of the insurance provider’s stock worth $839,935,000 after acquiring an additional 440,083 shares in the last quarter. Capital World Investors raised its holdings in shares of RenaissanceRe by 5.4% during the first quarter. Capital World Investors now owns 2,550,441 shares of the insurance provider’s stock worth $404,270,000 after acquiring an additional 129,891 shares in the last quarter. State Street Corp raised its holdings in shares of RenaissanceRe by 4.4% during the second quarter. State Street Corp now owns 2,197,056 shares of the insurance provider’s stock worth $409,795,000 after acquiring an additional 93,549 shares in the last quarter. Finally, Boston Partners raised its holdings in shares of RenaissanceRe by 7.1% during the third quarter. Boston Partners now owns 2,052,716 shares of the insurance provider’s stock worth $406,390,000 after acquiring an additional 135,861 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

Insider Buying and Selling

In other RenaissanceRe news, CFO Robert Qutub sold 2,500 shares of RenaissanceRe stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $234.56, for a total transaction of $586,400.00. Following the sale, the chief financial officer now directly owns 70,424 shares of the company’s stock, valued at $16,518,653.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other RenaissanceRe news, CFO Robert Qutub sold 2,500 shares of RenaissanceRe stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $234.56, for a total transaction of $586,400.00. Following the sale, the chief financial officer now directly owns 70,424 shares of the company’s stock, valued at $16,518,653.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David E. Marra sold 750 shares of RenaissanceRe stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $229.00, for a total value of $171,750.00. Following the sale, the executive vice president now directly owns 79,699 shares in the company, valued at $18,251,071. The disclosure for this sale can be found here. Insiders have sold a total of 4,250 shares of company stock valued at $967,200 over the last three months. 2.10% of the stock is owned by corporate insiders.

RenaissanceRe Stock Up 0.1 %

RNR stock opened at $226.25 on Tuesday. RenaissanceRe Holdings Ltd. has a twelve month low of $174.22 and a twelve month high of $235.14. The company has a market cap of $11.58 billion, a PE ratio of 4.42, a price-to-earnings-growth ratio of 2.53 and a beta of 0.31. The business’s 50-day simple moving average is $206.99 and its 200 day simple moving average is $203.50. The company has a quick ratio of 1.45, a current ratio of 1.40 and a debt-to-equity ratio of 0.23.

RenaissanceRe (NYSE:RNRGet Free Report) last released its earnings results on Tuesday, January 30th. The insurance provider reported $11.77 earnings per share for the quarter, topping analysts’ consensus estimates of $8.13 by $3.64. RenaissanceRe had a return on equity of 26.93% and a net margin of 28.04%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same period last year, the business earned $7.33 earnings per share. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. On average, research analysts anticipate that RenaissanceRe Holdings Ltd. will post 34.17 earnings per share for the current year.

RenaissanceRe Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, March 14th. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.38. This represents a $1.56 dividend on an annualized basis and a yield of 0.69%. RenaissanceRe’s dividend payout ratio (DPR) is 2.97%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RNR. Evercore ISI initiated coverage on RenaissanceRe in a report on Thursday, December 14th. They set an “underperform” rating and a $200.00 price objective for the company. UBS Group raised their target price on RenaissanceRe from $229.00 to $238.00 and gave the company a “neutral” rating in a report on Monday, February 5th. TheStreet upgraded RenaissanceRe from a “c” rating to a “b-” rating in a report on Monday, October 30th. Citigroup initiated coverage on RenaissanceRe in a report on Wednesday, November 22nd. They set a “buy” rating and a $251.00 target price on the stock. Finally, BMO Capital Markets raised their price target on RenaissanceRe from $216.00 to $295.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, RenaissanceRe currently has a consensus rating of “Hold” and an average target price of $240.90.

View Our Latest Stock Report 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.

See Also

Institutional Ownership by Quarter for RenaissanceRe (NYSE:RNR)

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