New York State Teachers Retirement System Has $13.63 Million Stock Holdings in RenaissanceRe Holdings Ltd. $RNR

New York State Teachers Retirement System grew its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 7.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 53,661 shares of the insurance provider’s stock after purchasing an additional 3,707 shares during the quarter. New York State Teachers Retirement System owned about 0.11% of RenaissanceRe worth $13,626,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Impax Asset Management Group plc raised its stake in RenaissanceRe by 11.2% during the 2nd quarter. Impax Asset Management Group plc now owns 1,220,038 shares of the insurance provider’s stock worth $295,494,000 after buying an additional 122,732 shares during the period. Bank of America Corp DE boosted its holdings in RenaissanceRe by 17.6% during the second quarter. Bank of America Corp DE now owns 803,547 shares of the insurance provider’s stock worth $195,182,000 after purchasing an additional 120,063 shares during the last quarter. Norges Bank acquired a new position in shares of RenaissanceRe during the 2nd quarter worth about $139,543,000. Charles Schwab Investment Management Inc. grew its stake in RenaissanceRe by 0.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 334,326 shares of the insurance provider’s stock valued at $81,208,000 after purchasing an additional 3,070 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in RenaissanceRe by 152.5% during the second quarter. JPMorgan Chase & Co. now owns 239,330 shares of the insurance provider’s stock worth $58,136,000 after buying an additional 144,547 shares during the last quarter. Institutional investors own 99.97% of the company’s stock.

RenaissanceRe Trading Down 1.4%

NYSE RNR opened at $270.92 on Wednesday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.21. The business has a fifty day simple moving average of $270.09 and a 200 day simple moving average of $254.11. RenaissanceRe Holdings Ltd. has a 12 month low of $219.00 and a 12 month high of $285.26. The firm has a market capitalization of $12.49 billion, a P/E ratio of 7.53, a PEG ratio of 6.47 and a beta of 0.26.

RenaissanceRe (NYSE:RNR) last announced its earnings results on Tuesday, October 28th. The insurance provider reported $15.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.49 by $6.13. RenaissanceRe had a return on equity of 16.83% and a net margin of 14.23%.The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same period last year, the firm posted $10.23 EPS. The business’s revenue was down 4.8% compared to the same quarter last year. On average, analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Monday, December 15th. RenaissanceRe’s dividend payout ratio (DPR) is presently 4.45%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Keefe, Bruyette & Woods upped their price target on shares of RenaissanceRe from $270.00 to $314.00 and gave the company a “market perform” rating in a research note on Tuesday, January 6th. JPMorgan Chase & Co. upped their target price on RenaissanceRe from $303.00 to $329.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 7th. Barclays upped their price objective on shares of RenaissanceRe from $278.00 to $304.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 8th. Cowen reissued a “hold” rating on shares of RenaissanceRe in a research note on Thursday, January 8th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $303.00 target price on shares of RenaissanceRe in a research note on Friday, December 5th. Five analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $295.40.

RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.