RenaissanceRe Holdings Ltd. (NYSE:RNR) Stock Holdings Increased by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 6.0% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,059 shares of the insurance provider’s stock after purchasing an additional 345 shares during the period. State of Alaska Department of Revenue’s holdings in RenaissanceRe were worth $1,650,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. EntryPoint Capital LLC acquired a new position in shares of RenaissanceRe in the first quarter worth $46,000. Wedge Capital Management L L P NC acquired a new stake in shares of RenaissanceRe during the 2nd quarter valued at about $2,887,000. Russell Investments Group Ltd. increased its holdings in RenaissanceRe by 16.9% in the first quarter. Russell Investments Group Ltd. now owns 27,448 shares of the insurance provider’s stock worth $6,451,000 after buying an additional 3,962 shares during the last quarter. Concurrent Investment Advisors LLC bought a new position in RenaissanceRe during the first quarter valued at approximately $744,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in RenaissanceRe by 47.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 24,743 shares of the insurance provider’s stock valued at $5,815,000 after acquiring an additional 7,975 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RNR. Evercore ISI increased their price target on shares of RenaissanceRe from $218.00 to $229.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 9th. UBS Group cut their target price on RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Barclays initiated coverage on RenaissanceRe in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $287.00 price target for the company. Jefferies Financial Group increased their price objective on RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Wells Fargo & Company boosted their target price on RenaissanceRe from $280.00 to $314.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $289.00.

RenaissanceRe Stock Up 0.6 %

Shares of RNR stock opened at $264.07 on Friday. The stock has a 50 day moving average of $266.06 and a 200-day moving average of $240.01. The firm has a market cap of $13.77 billion, a PE ratio of 5.22, a price-to-earnings-growth ratio of 1.71 and a beta of 0.39. 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 12 month low of $188.24 and a 12 month high of $284.36.

Insider Activity at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $279.00, for a total value of $279,000.00. Following the sale, the executive vice president now directly owns 82,044 shares in the company, valued at $22,890,276. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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.