Oregon Public Employees Retirement Fund raised its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 35.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,442 shares of the insurance provider’s stock after purchasing an additional 5,570 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in RenaissanceRe were worth $3,077,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Keybank National Association OH increased its stake in RenaissanceRe by 0.7% during the 4th quarter. Keybank National Association OH now owns 11,225 shares of the insurance provider’s stock valued at $1,501,000 after purchasing an additional 75 shares in the last quarter. First Republic Investment Management Inc. increased its stake in RenaissanceRe by 2.3% during the 1st quarter. First Republic Investment Management Inc. now owns 3,594 shares of the insurance provider’s stock valued at $516,000 after purchasing an additional 81 shares in the last quarter. JOYN Advisors Inc. increased its stake in RenaissanceRe by 63.9% during the 4th quarter. JOYN Advisors Inc. now owns 241 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 94 shares in the last quarter. First Mercantile Trust Co. increased its stake in shares of RenaissanceRe by 52.6% in the fourth quarter. First Mercantile Trust Co. now owns 290 shares of the insurance provider’s stock worth $39,000 after acquiring an additional 100 shares during the period. Finally, ETF Managers Group LLC increased its stake in shares of RenaissanceRe by 15.5% in the fourth quarter. ETF Managers Group LLC now owns 937 shares of the insurance provider’s stock worth $125,000 after acquiring an additional 126 shares during the period. Institutional investors and hedge funds own 90.50% of the company’s stock.
Shares of NYSE RNR opened at $170.97 on Thursday. RenaissanceRe Holdings Ltd. has a 1 year low of $117.35 and a 1 year high of $171.74. The firm has a market cap of $7.51 billion, a P/E ratio of 18.64, a PEG ratio of 1.45 and a beta of 0.52. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.24.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date is Thursday, June 13th. RenaissanceRe’s dividend payout ratio (DPR) is presently 14.83%.
A number of analysts have recently weighed in on the stock. ValuEngine lowered shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Zacks Investment Research upgraded shares of RenaissanceRe from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research note on Monday, April 1st. Deutsche Bank increased their price objective on shares of RenaissanceRe from $167.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. UBS Group increased their price objective on shares of RenaissanceRe from $144.00 to $153.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 9th. Finally, Wells Fargo & Co reiterated a “hold” rating and issued a $125.00 price objective on shares of RenaissanceRe in a research note on Tuesday, January 29th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $149.09.
In other RenaissanceRe news, SVP Ian D. Branagan sold 2,000 shares of the stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $153.00, for a total transaction of $306,000.00. Following the transaction, the senior vice president now directly owns 52,617 shares of the company’s stock, valued at $8,050,401. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Ross Curtis sold 7,500 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $156.00, for a total transaction of $1,170,000.00. The disclosure for this sale can be found here. Insiders have sold 22,250 shares of company stock worth $3,458,463 over the last three months. 1.60% of the stock is currently owned by insiders.
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RenaissanceRe Holdings Ltd. 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 retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including earthquakes, hurricanes, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising 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, and binding facilities and regional U.S.
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