Louisiana State Employees Retirement System lessened its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 0.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,700 shares of the insurance provider’s stock after selling 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in RenaissanceRe were worth $2,106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in the business. Strs Ohio lifted its position in shares of RenaissanceRe by 26.9% in the 3rd quarter. Strs Ohio now owns 29,332 shares of the insurance provider’s stock worth $4,979,000 after buying an additional 6,219 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its stake in shares of RenaissanceRe by 108.8% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 4,337 shares of the insurance provider’s stock worth $736,000 after purchasing an additional 2,260 shares during the last quarter. Prana Capital Management LP acquired a new position in shares of RenaissanceRe in the third quarter worth about $2,275,000. California State Teachers Retirement System boosted its holdings in shares of RenaissanceRe by 5.3% in the third quarter. California State Teachers Retirement System now owns 89,264 shares of the insurance provider’s stock worth $15,152,000 after buying an additional 4,522 shares during the period. Finally, Polar Capital LLP boosted its holdings in shares of RenaissanceRe by 3.7% in the third quarter. Polar Capital LLP now owns 466,656 shares of the insurance provider’s stock worth $79,210,000 after buying an additional 16,656 shares during the period. Hedge funds and other institutional investors own 92.34% of the company’s stock.
A number of equities analysts recently issued reports on RNR shares. BidaskClub lowered shares of RenaissanceRe from a “sell” rating to a “strong sell” rating in a research report on Wednesday, December 30th. Deutsche Bank Aktiengesellschaft lowered their price target on RenaissanceRe from $192.00 to $186.00 and set a “hold” rating for the company in a research note on Thursday, October 29th. Morgan Stanley boosted their price objective on RenaissanceRe from $196.00 to $199.00 and gave the company an “equal weight” rating in a research report on Tuesday. The Goldman Sachs Group upgraded RenaissanceRe from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $194.00 to $199.00 in a research report on Friday, January 8th. Finally, JPMorgan Chase & Co. boosted their price objective on RenaissanceRe from $160.00 to $162.00 and gave the company an “underweight” rating in a research report on Monday, January 4th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. RenaissanceRe presently has a consensus rating of “Hold” and a consensus target price of $190.43.
RenaissanceRe (NYSE:RNR) last posted its earnings results on Tuesday, October 27th. The insurance provider reported ($2.64) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.03) by ($0.61). RenaissanceRe had a return on equity of 5.21% and a net margin of 13.02%. The firm had revenue of $1.11 billion during the quarter. As a group, equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 6.27 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 31st. Shareholders of record on Tuesday, December 15th were given a dividend of $0.35 per share. The ex-dividend date was Monday, December 14th. This represents a $1.40 dividend on an annualized basis and a yield of 0.84%. RenaissanceRe’s payout ratio is presently 15.33%.
RenaissanceRe Holdings Ltd. 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 retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, and other windstorms, as well as claims arising from other natural and man-made catastrophes comprising tsunamis, winter storms, freezes, floods, fires, tornadoes, explosions and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, and binding facilities and regional U.S.
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