Retirement Systems of Alabama Reduces Stake in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Retirement Systems of Alabama lessened its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 2.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 115,254 shares of the insurance provider’s stock after selling 3,503 shares during the period. Retirement Systems of Alabama’s holdings in RenaissanceRe were worth $28,676,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in RNR. ORG Wealth Partners LLC acquired a new stake in RenaissanceRe during the third quarter worth approximately $30,000. MassMutual Private Wealth & Trust FSB grew its position in shares of RenaissanceRe by 51.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock valued at $30,000 after buying an additional 41 shares during the last quarter. UMB Bank n.a. raised its stake in RenaissanceRe by 316.7% during the 3rd 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. purchased a new stake in RenaissanceRe in the third quarter valued at $45,000. Finally, V Square Quantitative Management LLC lifted its position in RenaissanceRe by 29.5% in the third quarter. V Square Quantitative Management LLC now owns 180 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on RNR shares. Bank of America lifted their target price on RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. JMP Securities reaffirmed a “market perform” rating on shares of RenaissanceRe in a research report on Thursday, January 30th. Barclays downgraded RenaissanceRe from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $284.00 to $234.00 in a report on Monday, January 6th. StockNews.com cut shares of RenaissanceRe from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company decreased their price target on shares of RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $279.90.

Insider Transactions at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was 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 of the company’s stock, valued at $20,178,270.72. This represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.80% of the company’s stock.

RenaissanceRe Stock Performance

Shares of RNR opened at $234.00 on Thursday. RenaissanceRe Holdings Ltd. has a 1 year low of $208.98 and a 1 year high of $300.00. The stock has a market capitalization of $12.15 billion, a P/E ratio of 6.68, a P/E/G ratio of 1.65 and a beta of 0.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.43 and a current ratio of 1.42. The company’s fifty day moving average is $256.89 and its two-hundred day moving average is $257.49.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts predict that RenaissanceRe Holdings Ltd. will post 33.43 earnings per share for the current year.

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.