RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado decreased its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,565 shares of the insurance provider’s stock after selling 219 shares during the period. Public Employees Retirement Association of Colorado’s holdings in RenaissanceRe were worth $1,244,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC lifted its position in shares of RenaissanceRe by 8.7% during the 1st quarter. CWM LLC now owns 610 shares of the insurance provider’s stock valued at $143,000 after acquiring an additional 49 shares during the period. State of Alaska Department of Revenue raised its holdings in RenaissanceRe by 0.9% during the first quarter. State of Alaska Department of Revenue now owns 5,714 shares of the insurance provider’s stock worth $1,342,000 after purchasing an additional 50 shares during the last quarter. Hilltop National Bank boosted its position in RenaissanceRe by 14.9% during the second quarter. Hilltop National Bank now owns 400 shares of the insurance provider’s stock worth $89,000 after purchasing an additional 52 shares in the last quarter. Steward Partners Investment Advisory LLC grew its holdings in RenaissanceRe by 1.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,926 shares of the insurance provider’s stock valued at $965,000 after purchasing an additional 73 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of RenaissanceRe by 1.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,594 shares of the insurance provider’s stock valued at $1,550,000 after buying an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

RenaissanceRe Price Performance

RNR stock opened at $262.64 on Wednesday. The stock has a market capitalization of $13.89 billion, a price-to-earnings ratio of 5.80, a price-to-earnings-growth ratio of 1.45 and a beta of 0.38. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.21. RenaissanceRe Holdings Ltd. has a 52-week low of $188.24 and a 52-week high of $268.61. The stock’s fifty day simple moving average is $244.32 and its 200-day simple moving average is $231.83.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Wednesday, July 24th. The insurance provider reported $12.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.88 by $1.53. RenaissanceRe had a return on equity of 27.74% and a net margin of 25.38%. The firm had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.93 billion. Equities research analysts expect that RenaissanceRe Holdings Ltd. will post 39.01 EPS for the current year.

RenaissanceRe Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.59%. RenaissanceRe’s dividend payout ratio is presently 3.45%.

Insider Buying and Selling

In other RenaissanceRe news, CFO Robert Qutub sold 2,500 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $224.56, for a total transaction of $561,400.00. Following the completion of the sale, the chief financial officer now owns 73,915 shares of the company’s stock, valued at $16,598,352.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP David E. Marra sold 1,000 shares of the stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $230.00, for a total value of $230,000.00. Following the completion of the sale, the executive vice president now owns 85,544 shares of the company’s stock, valued at $19,675,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert Qutub sold 2,500 shares of RenaissanceRe stock in a transaction on Friday, July 26th. The shares were sold at an average price of $224.56, for a total transaction of $561,400.00. Following the transaction, the chief financial officer now owns 73,915 shares in the company, valued at approximately $16,598,352.40. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on RNR shares. UBS Group decreased their price objective on shares of RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Morgan Stanley reduced their price target on shares of RenaissanceRe from $257.00 to $240.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Citigroup raised their price objective on shares of RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Barclays initiated coverage on RenaissanceRe in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $287.00 target price on the stock. Finally, Wells Fargo & Company dropped their price target on RenaissanceRe from $288.00 to $280.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, RenaissanceRe has an average rating of “Hold” and a consensus price target of $272.60.

RenaissanceRe Company 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.