7,120 RenaissanceRe Holdings Ltd. $RNR Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al lessened its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 40.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,667 shares of the insurance provider’s stock after selling 7,120 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in RenaissanceRe were worth $3,395,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in RNR. Choreo LLC raised its position in RenaissanceRe by 4.2% in the 3rd quarter. Choreo LLC now owns 11,743 shares of the insurance provider’s stock worth $3,737,000 after purchasing an additional 468 shares during the period. Signaturefd LLC lifted its stake in RenaissanceRe by 25.0% in the third quarter. Signaturefd LLC now owns 691 shares of the insurance provider’s stock worth $220,000 after purchasing an additional 138 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its position in shares of RenaissanceRe by 29.1% during the third quarter. Fifth Third Wealth Advisors LLC now owns 2,958 shares of the insurance provider’s stock valued at $941,000 after buying an additional 667 shares during the period. Root Financial Partners LLC purchased a new position in shares of RenaissanceRe during the third quarter valued at approximately $85,000. Finally, JSF Financial LLC boosted its position in shares of RenaissanceRe by 6.2% during the third quarter. JSF Financial LLC now owns 4,454 shares of the insurance provider’s stock valued at $1,417,000 after buying an additional 261 shares during the period. Institutional investors own 99.97% of the company’s stock.

RenaissanceRe Trading Up 3.6%

Shares of RNR opened at $351.50 on Tuesday. RenaissanceRe Holdings Ltd. has a 1-year low of $251.36 and a 1-year high of $363.84. The company has a 50-day moving average of $333.59 and a 200 day moving average of $310.43. The firm has a market capitalization of $14.60 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 0.91 and a beta of 0.12. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.40 and a quick ratio of 1.38.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Tuesday, October 27th. The insurance provider reported $12.71 EPS for the quarter, topping analysts’ consensus estimates of $10.56 by $2.15. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.78 billion. RenaissanceRe had a net margin of 16.25% and a return on equity of 21.13%. During the same period in the prior year, the firm earned $15.62 EPS. On average, research analysts expect that RenaissanceRe Holdings Ltd. will post 48.12 EPS for the current year.

Wall Street Analyst Weigh In

RNR has been the topic of a number of analyst reports. Jefferies Financial Group raised RenaissanceRe from a “hold” rating to a “market outperform” rating in a research note on Tuesday, September 22nd. Cantor Fitzgerald reissued an “overweight” rating on shares of RenaissanceRe in a research note on Thursday, July 23rd. Bank of America boosted their price objective on RenaissanceRe from $410.00 to $438.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Weiss Ratings downgraded RenaissanceRe from a “buy (b+)” rating to a “hold (c+)” rating in a research report on Thursday. Finally, Evercore set a $330.00 target price on RenaissanceRe in a research note on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, RenaissanceRe presently has a consensus rating of “Hold” and a consensus price target of $343.69.

RenaissanceRe Profile

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance products. The company specializes in helping insurers, businesses and other organizations manage financial risk arising from natural catastrophes, specialty exposures and certain casualty risks.

RenaissanceRe’s reinsurance activities include property catastrophe coverage, as well as casualty and specialty reinsurance. Through its insurance operations, the company provides coverage for areas such as property, casualty and other specialty risks.