RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 0.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,116 shares of the insurance provider’s stock after selling 328 shares during the quarter. New York State Teachers Retirement System owned about 0.11% of RenaissanceRe worth $15,286,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Blue Trust Inc. acquired a new position in shares of RenaissanceRe during the second quarter valued at approximately $27,000. ORG Wealth Partners LLC acquired a new position in shares of RenaissanceRe during the third quarter valued at approximately $30,000. V Square Quantitative Management LLC acquired a new position in shares of RenaissanceRe during the second quarter valued at approximately $31,000. UMB Bank n.a. increased its stake in shares of RenaissanceRe by 316.7% during the third quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 95 shares during the period. Finally, EntryPoint Capital LLC acquired a new position in shares of RenaissanceRe during the first quarter valued at approximately $46,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

Insider Buying and Selling

In related news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $279.00, for a total value of $279,000.00. Following the completion of the transaction, the executive vice president now owns 82,044 shares of the company’s stock, valued at approximately $22,890,276. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.

RenaissanceRe Trading Up 0.6 %

RenaissanceRe stock opened at $264.07 on Friday. The company has a 50 day moving average price of $266.06 and a 200 day moving average price of $240.01. RenaissanceRe Holdings Ltd. has a 52 week low of $188.24 and a 52 week high of $284.36. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a market capitalization of $13.77 billion, a price-to-earnings ratio of 5.22, a P/E/G ratio of 1.71 and a beta of 0.39.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RNR. UBS Group lowered their price objective on shares of RenaissanceRe from $251.00 to $248.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Evercore ISI raised their target price on shares of RenaissanceRe from $218.00 to $229.00 and gave the stock an “underperform” rating in a report on Wednesday, October 9th. Wells Fargo & Company raised their target price on shares of RenaissanceRe from $280.00 to $314.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. raised their target price on shares of RenaissanceRe from $267.00 to $274.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Finally, Bank of America raised their target price on shares of RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $289.00.

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.