Teacher Retirement System of Texas Acquires 3,510 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Teacher Retirement System of Texas lifted its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 40.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,249 shares of the insurance provider’s stock after purchasing an additional 3,510 shares during the period. Teacher Retirement System of Texas’ holdings in RenaissanceRe were worth $3,048,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Boston Partners lifted its stake in RenaissanceRe by 28.5% in the fourth quarter. Boston Partners now owns 2,013,382 shares of the insurance provider’s stock valued at $500,991,000 after buying an additional 446,781 shares during the period. Impax Asset Management Group plc lifted its position in shares of RenaissanceRe by 10.8% during the 4th quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider’s stock valued at $466,969,000 after acquiring an additional 182,530 shares during the period. Philadelphia Financial Management of San Francisco LLC acquired a new position in shares of RenaissanceRe during the 3rd quarter valued at $18,969,000. Northwest & Ethical Investments L.P. bought a new position in RenaissanceRe during the third quarter worth $17,086,000. Finally, World Investment Advisors LLC acquired a new stake in RenaissanceRe in the third quarter worth $16,176,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

RenaissanceRe Stock Performance

Shares of RNR stock opened at $239.44 on Wednesday. RenaissanceRe Holdings Ltd. has a one year low of $208.98 and a one year high of $300.00. The company has a market cap of $11.79 billion, a P/E ratio of 6.84, a P/E/G ratio of 2.09 and a beta of 0.38. The firm has a 50-day moving average of $240.51 and a 200-day moving average of $256.79. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42.

RenaissanceRe (NYSE:RNR) last posted its 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 net margin of 15.99% and a return on equity of 23.41%. Equities research analysts forecast 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. Shareholders of record on Friday, March 14th will be given a $0.40 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.60 annualized dividend and a yield of 0.67%. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.39. RenaissanceRe’s payout ratio is currently 4.57%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on RNR shares. Wells Fargo & Company cut their price objective on shares of RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. JMP Securities reissued a “market perform” rating on shares of RenaissanceRe in a research note on Thursday, January 30th. Barclays cut RenaissanceRe from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $284.00 to $234.00 in a report on Monday, January 6th. JPMorgan Chase & Co. upped their price objective on shares of RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a report on Friday, January 3rd. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $282.00 price objective (down from $304.00) on shares of RenaissanceRe in a report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, RenaissanceRe presently has a consensus rating of “Hold” and an average price target of $279.90.

Insider Buying and Selling at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total transaction of $254,160.00. Following the completion of the transaction, 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 ownership of the stock. The transaction 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.

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.