New York State Common Retirement Fund Trims Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

New York State Common Retirement Fund decreased its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 30.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 108,096 shares of the insurance provider’s stock after selling 48,167 shares during the period. New York State Common Retirement Fund’s holdings in RenaissanceRe were worth $26,895,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB lifted its position in RenaissanceRe by 51.3% during 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. Advisors Asset Management Inc. purchased a new stake in shares of RenaissanceRe during the third quarter worth approximately $45,000. UMB Bank n.a. lifted its holdings in shares of RenaissanceRe by 40.0% during the fourth 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. LRI Investments LLC grew its position in RenaissanceRe by 668.8% in the 3rd quarter. LRI Investments LLC now owns 246 shares of the insurance provider’s stock valued at $63,000 after buying an additional 214 shares during the last quarter. Finally, ORG Wealth Partners LLC increased its stake in RenaissanceRe by 129.4% in the 4th quarter. ORG Wealth Partners LLC now owns 250 shares of the insurance provider’s stock valued at $62,000 after buying an additional 141 shares during the period. Hedge funds and other institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Down 1.0 %

RenaissanceRe stock opened at $226.53 on Friday. RenaissanceRe Holdings Ltd. has a fifty-two week low of $208.98 and a fifty-two week high of $300.00. The firm has a market capitalization of $11.16 billion, a price-to-earnings ratio of 6.47, a price-to-earnings-growth ratio of 2.10 and a beta of 0.43. The stock’s fifty day moving average is $245.82 and its two-hundred day moving average is $257.72. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.42 and a current ratio of 1.42.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings data 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 net margin of 15.99% and a return on equity of 23.41%. Analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.71%. This is a boost 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 4.45%.

Insider Transactions at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the 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 sale, the executive vice president now owns 79,392 shares in the company, valued at approximately $20,178,270.72. This represents a 1.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

RNR has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a research note on Friday, January 3rd. Morgan Stanley cut their price target 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. Barclays lowered RenaissanceRe from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $284.00 to $234.00 in a report on Monday, January 6th. Wells Fargo & Company cut their target price on RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $279.90.

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.