Louisiana State Employees Retirement System Purchases New Holdings in RenaissanceRe Holdings Ltd. $RNR

Louisiana State Employees Retirement System purchased a new position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) during the first quarter, Holdings Channel reports. The institutional investor purchased 12,600 shares of the insurance provider’s stock, valued at approximately $3,745,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in shares of RenaissanceRe by 4.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,001,410 shares of the insurance provider’s stock valued at $254,273,000 after purchasing an additional 45,936 shares during the last quarter. New Age Alpha Advisors LLC boosted its holdings in shares of RenaissanceRe by 97.2% in the 3rd quarter. New Age Alpha Advisors LLC now owns 20,800 shares of the insurance provider’s stock worth $5,165,000 after buying an additional 10,250 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of RenaissanceRe by 135.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 195,975 shares of the insurance provider’s stock worth $55,100,000 after buying an additional 112,910 shares during the last quarter. Prana Capital Management LP boosted its holdings in shares of RenaissanceRe by 608.9% in the 3rd quarter. Prana Capital Management LP now owns 29,971 shares of the insurance provider’s stock worth $7,611,000 after buying an additional 25,743 shares during the last quarter. Finally, Belpointe Asset Management LLC grew its position in RenaissanceRe by 595.0% during the fourth quarter. Belpointe Asset Management LLC now owns 6,151 shares of the insurance provider’s stock valued at $1,729,000 after buying an additional 5,266 shares during the period. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RNR. Wall Street Zen downgraded shares of RenaissanceRe from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings upgraded shares of RenaissanceRe from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday. Keefe, Bruyette & Woods raised their price target on shares of RenaissanceRe from $323.00 to $327.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 7th. Citigroup upgraded shares of RenaissanceRe from a “neutral” rating to a “buy” rating and raised their price target for the stock from $335.00 to $345.00 in a research note on Wednesday, June 10th. Finally, Barclays dropped their price objective on RenaissanceRe from $341.00 to $328.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 29th. Five research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, RenaissanceRe presently has a consensus rating of “Hold” and a consensus price target of $323.64.

RenaissanceRe Trading Up 4.0%

Shares of RNR opened at $319.30 on Friday. RenaissanceRe Holdings Ltd. has a fifty-two week low of $231.17 and a fifty-two week high of $319.80. The business has a 50-day moving average of $298.90 and a 200 day moving average of $292.23. The firm has a market cap of $13.61 billion, a P/E ratio of 5.32, a price-to-earnings-growth ratio of 1.20 and a beta of 0.18. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.37 and a current ratio of 1.37.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings data on Tuesday, March 31st. The insurance provider reported $13.75 EPS for the quarter. The business had revenue of $2.19 billion for the quarter. RenaissanceRe had a net margin of 24.25% and a return on equity of 24.01%. As a group, research analysts forecast that RenaissanceRe Holdings Ltd. will post 40.05 EPS for the current year.

RenaissanceRe Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Monday, June 15th. RenaissanceRe’s dividend payout ratio is presently 2.73%.

RenaissanceRe 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.