RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lowered its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 2.8% during the third quarter, HoldingsChannel reports. The firm owned 15,925 shares of the insurance provider’s stock after selling 460 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in RenaissanceRe were worth $4,338,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Cetera Advisors LLC acquired a new position in RenaissanceRe in the 1st quarter valued at $201,000. CWM LLC increased its stake in shares of RenaissanceRe by 28.4% during the second quarter. CWM LLC now owns 783 shares of the insurance provider’s stock worth $175,000 after acquiring an additional 173 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in RenaissanceRe by 1.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 6,681 shares of the insurance provider’s stock worth $1,493,000 after purchasing an additional 87 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in RenaissanceRe by 19.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 4,311 shares of the insurance provider’s stock valued at $964,000 after purchasing an additional 713 shares during the period. Finally, Blue Trust Inc. purchased a new stake in RenaissanceRe in the 2nd quarter valued at approximately $27,000. Hedge funds and other institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Performance

Shares of RNR opened at $267.82 on Friday. RenaissanceRe Holdings Ltd. has a 12-month low of $188.24 and a 12-month high of $300.00. The stock has a market cap of $13.91 billion, a P/E ratio of 3.86, a PEG ratio of 1.32 and a beta of 0.41. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.18. The company has a 50-day moving average of $272.33 and a two-hundred day moving average of $250.20.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.89 by $2.34. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.35 billion. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. The company’s quarterly revenue was up 52.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.33 EPS. As a group, research analysts predict that RenaissanceRe Holdings Ltd. will post 41.94 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $0.39 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.58%. RenaissanceRe’s dividend payout ratio is currently 2.25%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on RNR shares. Evercore ISI increased their target price on RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a research note on Thursday, November 7th. StockNews.com cut RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their target price on shares of RenaissanceRe from $274.00 to $280.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Barclays began coverage on shares of RenaissanceRe in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $287.00 price target for the company. Finally, Citigroup boosted their price objective on shares of RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $293.00.

Insider Activity at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $279.00, for a total value of $279,000.00. Following the transaction, the executive vice president now directly owns 82,044 shares in the company, valued at approximately $22,890,276. This represents a 1.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.30% of the company’s stock.

About RenaissanceRe

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.