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

Louisiana State Employees Retirement System cut its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 0.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,400 shares of the insurance provider’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in RenaissanceRe were worth $3,583,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ORG Wealth Partners LLC purchased a new position in RenaissanceRe in the third quarter worth $30,000. MassMutual Private Wealth & Trust FSB grew its position in RenaissanceRe by 51.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 41 shares in the last quarter. UMB Bank n.a. grew its position in RenaissanceRe by 316.7% in the third quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 95 shares in the last quarter. Advisors Asset Management Inc. bought a new stake in RenaissanceRe in the third quarter worth $45,000. Finally, V Square Quantitative Management LLC lifted its stake in RenaissanceRe by 29.5% in the third quarter. V Square Quantitative Management LLC now owns 180 shares of the insurance provider’s stock worth $49,000 after purchasing an additional 41 shares during the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total transaction of $254,160.00. Following the transaction, the executive vice president now owns 79,392 shares in the company, valued at $20,178,270.72. The trade was a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is owned by corporate insiders.

RenaissanceRe Stock Performance

Shares of NYSE:RNR opened at $230.93 on Thursday. The company has a market cap of $11.99 billion, a price-to-earnings ratio of 6.59, a price-to-earnings-growth ratio of 1.91 and a beta of 0.43. The company has a 50-day moving average price of $251.89 and a 200-day moving average price of $257.91. The company has a current ratio of 1.42, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19. RenaissanceRe Holdings Ltd. has a 12 month low of $208.98 and a 12 month high of $300.00.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.94 by $1.12. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. As a group, equities analysts anticipate that RenaissanceRe Holdings Ltd. will post 29.92 EPS for the current year.

RenaissanceRe Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.60 annualized dividend and a dividend yield of 0.69%. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s payout ratio is currently 4.45%.

Analyst Ratings Changes

Several analysts have weighed in on RNR shares. Keefe, Bruyette & Woods lowered their price target on shares of RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating for the company in a research note on Tuesday, February 4th. JMP Securities reissued a “market perform” rating on shares of RenaissanceRe in a research note on Thursday, January 30th. Barclays downgraded shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $284.00 to $234.00 in a research note on Monday, January 6th. Jefferies Financial Group reissued a “hold” rating and issued a $282.00 price target (down from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. Finally, Evercore ISI boosted their price target on shares of RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, RenaissanceRe presently has an average rating of “Hold” and a consensus target price of $279.90.

RenaissanceRe 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.