RenaissanceRe Holdings Ltd. (NYSE:RNR) Position Lifted by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its position in RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 40.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,249 shares of the insurance provider's stock after purchasing an additional 3,510 shares during the quarter. Teacher Retirement System of Texas' holdings in RenaissanceRe were worth $3,048,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in shares of RenaissanceRe in the fourth quarter valued at approximately $29,000. MassMutual Private Wealth & Trust FSB grew its stake in RenaissanceRe by 51.3% in the 4th 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 during the period. Jones Financial Companies Lllp grew its stake in RenaissanceRe by 1,587.5% in the 4th quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock worth $34,000 after acquiring an additional 127 shares during the period. Smartleaf Asset Management LLC raised its holdings in RenaissanceRe by 71.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock valued at $39,000 after acquiring an additional 65 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of RenaissanceRe by 40.0% during the 4th quarter. UMB Bank n.a. now owns 175 shares of the insurance provider's stock worth $44,000 after purchasing an additional 50 shares during the period. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several equities analysts recently weighed in on RNR shares. Keefe, Bruyette & Woods reduced their target price on RenaissanceRe from $318.00 to $294.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 4th. JMP Securities reiterated a "market perform" rating on shares of RenaissanceRe in a report on Thursday, January 30th. Morgan Stanley lowered their target price on shares of RenaissanceRe from $265.00 to $245.00 and set an "equal weight" rating for the company in a report on Friday, January 31st. Jefferies Financial Group reaffirmed a "hold" rating and set a $282.00 price target (down previously from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. Finally, Wells Fargo & Company dropped their price objective on RenaissanceRe from $288.00 to $277.00 and set an "overweight" rating for the company in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $283.40.

Insider Buying and Selling

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

RenaissanceRe Stock Down 1.7 %

Shares of RNR traded down $4.27 during midday trading on Friday, reaching $242.46. 269,503 shares of the company were exchanged, compared to its average volume of 407,716. RenaissanceRe Holdings Ltd. has a 1-year low of $208.98 and a 1-year high of $300.00. The stock has a 50-day moving average price of $239.76 and a 200-day moving average price of $256.52. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19. The company has a market cap of $11.88 billion, a price-to-earnings ratio of 6.92, a P/E/G ratio of 2.09 and a beta of 0.38.

RenaissanceRe (NYSE:RNR - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 EPS for the quarter, topping the consensus estimate of $6.94 by $1.12. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. Research analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.66%. This is a positive change from RenaissanceRe's previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 14th. RenaissanceRe's dividend payout ratio (DPR) is presently 4.57%.

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.