California Public Employees Retirement System Sells 4,228 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

California Public Employees Retirement System cut its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 1.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 240,446 shares of the insurance provider’s stock after selling 4,228 shares during the quarter. California Public Employees Retirement System owned about 0.46% of RenaissanceRe worth $59,825,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in RenaissanceRe during the 4th quarter valued at $29,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of RenaissanceRe by 51.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 41 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of RenaissanceRe by 1,587.5% during the fourth quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider’s stock valued at $34,000 after buying an additional 127 shares during the last quarter. Smartleaf Asset Management LLC increased 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 worth $39,000 after buying an additional 65 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in RenaissanceRe by 40.0% during the 4th quarter. UMB Bank n.a. now owns 175 shares of the insurance provider’s stock valued at $44,000 after acquiring an additional 50 shares during the period. Hedge funds and other institutional investors own 99.97% of the company’s stock.

RenaissanceRe Trading Up 2.1 %

RenaissanceRe stock opened at $245.09 on Wednesday. RenaissanceRe Holdings Ltd. has a 12-month low of $208.98 and a 12-month high of $300.00. The firm has a market capitalization of $12.01 billion, a price-to-earnings ratio of 7.00, a P/E/G ratio of 2.09 and a beta of 0.38. The firm has a 50 day moving average of $239.17 and a 200 day moving average of $256.34. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.94 by $1.12. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. As a group, research analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current year.

RenaissanceRe Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.40 dividend. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, March 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.65%. RenaissanceRe’s dividend payout ratio is 4.57%.

Insider Buying and Selling

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total value of $254,160.00. Following the completion of the transaction, the executive vice president now directly owns 79,392 shares in the company, valued at $20,178,270.72. This represents a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on RNR shares. Morgan Stanley decreased their price objective 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. JMP Securities reissued a “market perform” rating on shares of RenaissanceRe in a report on Thursday, January 30th. Wells Fargo & Company cut 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. Jefferies Financial Group reissued a “hold” rating and issued a $282.00 target price (down previously from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. boosted their price target on RenaissanceRe from $280.00 to $284.00 and gave the company a “neutral” rating in a research note on Friday, January 3rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $283.40.

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.