Louisiana State Employees Retirement System Takes $3.75 Million Position in RenaissanceRe Holdings Ltd. $RNR

Louisiana State Employees Retirement System acquired a new position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 12,600 shares of the insurance provider’s stock, valued at approximately $3,745,000.

Other large investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in RenaissanceRe by 4.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,001,410 shares of the insurance provider’s stock valued at $254,273,000 after acquiring an additional 45,936 shares during the period. New Age Alpha Advisors LLC raised its position in shares of RenaissanceRe by 97.2% during the third quarter. New Age Alpha Advisors LLC now owns 20,800 shares of the insurance provider’s stock worth $5,165,000 after purchasing an additional 10,250 shares during the period. Robeco Institutional Asset Management B.V. raised its position in shares of RenaissanceRe by 135.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 195,975 shares of the insurance provider’s stock worth $55,100,000 after purchasing an additional 112,910 shares during the period. Prana Capital Management LP lifted 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 purchasing an additional 25,743 shares in the last quarter. Finally, Belpointe Asset Management LLC lifted its holdings in shares of RenaissanceRe by 595.0% in the 4th quarter. Belpointe Asset Management LLC now owns 6,151 shares of the insurance provider’s stock worth $1,729,000 after purchasing an additional 5,266 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.

RenaissanceRe Price Performance

Shares of NYSE:RNR opened at $319.30 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.22. The stock’s fifty day simple moving average is $298.90 and its two-hundred day simple moving average is $292.23. RenaissanceRe Holdings Ltd. has a 1-year low of $231.17 and a 1-year high of $319.80. The stock has a market cap of $13.61 billion, a PE ratio of 5.32, a price-to-earnings-growth ratio of 1.20 and a beta of 0.18.

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

RenaissanceRe Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have commented on RNR. Mizuho set a $325.00 price target on shares of RenaissanceRe in a research note on Monday, May 4th. Bank of America dropped their price objective on shares of RenaissanceRe to $426.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Keefe, Bruyette & Woods lifted their price objective on shares of RenaissanceRe from $323.00 to $327.00 and gave the company a “market perform” rating in a report on Tuesday, April 7th. UBS Group boosted their target price on shares of RenaissanceRe from $319.00 to $326.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Finally, Weiss Ratings upgraded shares of RenaissanceRe from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday. Five equities 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $323.64.

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.