New York State Common Retirement Fund Sells 14,735 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

New York State Common Retirement Fund reduced its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 8.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 156,263 shares of the insurance provider's stock after selling 14,735 shares during the period. New York State Common Retirement Fund owned about 0.30% of RenaissanceRe worth $42,566,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its position in shares of RenaissanceRe by 21.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 624,469 shares of the insurance provider's stock worth $139,579,000 after purchasing an additional 109,851 shares during the period. Impax Asset Management Group plc lifted its position in shares of RenaissanceRe by 7.7% in the 2nd quarter. Impax Asset Management Group plc now owns 1,282,270 shares of the insurance provider's stock worth $286,028,000 after purchasing an additional 91,425 shares during the period. Cooke & Bieler LP lifted its position in shares of RenaissanceRe by 9.2% in the 2nd quarter. Cooke & Bieler LP now owns 1,027,601 shares of the insurance provider's stock worth $229,679,000 after purchasing an additional 86,562 shares during the period. Jupiter Asset Management Ltd. lifted its position in shares of RenaissanceRe by 480.2% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 41,726 shares of the insurance provider's stock worth $9,326,000 after purchasing an additional 34,534 shares during the period. Finally, Earnest Partners LLC lifted its position in shares of RenaissanceRe by 6.1% in the 1st quarter. Earnest Partners LLC now owns 578,139 shares of the insurance provider's stock worth $135,880,000 after purchasing an additional 33,448 shares during the period. 99.97% of the stock is owned by hedge funds and other institutional investors.

RenaissanceRe Stock Performance

Shares of RNR stock traded up $1.67 during trading hours on Friday, reaching $264.07. The company had a trading volume of 382,570 shares, compared to its average volume of 485,402. The business has a fifty day moving average price of $266.06 and a 200-day moving average price of $240.19. RenaissanceRe Holdings Ltd. has a one year low of $188.24 and a one year high of $284.36. 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 debt-to-equity ratio of 0.21, a quick ratio of 1.38 and a current ratio of 1.38.

Analysts Set New Price Targets

Several equities research analysts have recently commented on RNR shares. Evercore ISI raised their target price on shares of RenaissanceRe from $218.00 to $229.00 and gave the stock an "underperform" rating in a research report on Wednesday, October 9th. Citigroup lifted their price target on shares of RenaissanceRe from $262.00 to $298.00 and gave the company a "buy" rating in a research report on Tuesday, September 10th. Morgan Stanley lowered their price target on shares of RenaissanceRe from $257.00 to $240.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 10th. Jefferies Financial Group lifted their price target on shares of RenaissanceRe from $270.00 to $314.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Finally, UBS Group lowered their price target on shares of RenaissanceRe from $251.00 to $248.00 and set a "neutral" rating for the company in a research report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, RenaissanceRe has an average rating of "Hold" and an average price target of $289.00.

Insider Transactions at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 82,044 shares in the company, valued at $22,890,276. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.30% of the company's stock.

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.