Strs Ohio Sells 15,170 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Strs Ohio reduced its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 35.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 27,849 shares of the insurance provider’s stock after selling 15,170 shares during the quarter. Strs Ohio’s holdings in RenaissanceRe were worth $5,458,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. increased its position in RenaissanceRe by 4,833.3% in the 3rd quarter. Financial Management Professionals Inc. now owns 148 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 145 shares during the period. Quarry LP acquired a new position in RenaissanceRe in the 1st quarter valued at approximately $32,000. Bruce G. Allen Investments LLC acquired a new position in RenaissanceRe in the 4th quarter valued at approximately $38,000. Global Retirement Partners LLC increased its position in RenaissanceRe by 519.4% in the 3rd quarter. Global Retirement Partners LLC now owns 192 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 161 shares during the period. Finally, Fred Alger Management LLC acquired a new position in RenaissanceRe in the 1st quarter valued at approximately $44,000. 99.97% of the stock is currently owned by institutional investors and hedge funds.

RenaissanceRe Trading Up 3.0 %

NYSE:RNR opened at $222.99 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $11.75 billion, a price-to-earnings ratio of 4.35, a PEG ratio of 2.87 and a beta of 0.30. The firm has a fifty day simple moving average of $227.58 and a two-hundred day simple moving average of $215.39. RenaissanceRe Holdings Ltd. has a 12 month low of $174.22 and a 12 month high of $239.42.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings results on Tuesday, January 30th. The insurance provider reported $11.77 EPS for the quarter, topping analysts’ consensus estimates of $8.13 by $3.64. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.83 billion. RenaissanceRe had a net margin of 28.04% and a return on equity of 26.93%. The business’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period last year, the company posted $7.33 earnings per share. Analysts expect that RenaissanceRe Holdings Ltd. will post 34.41 EPS for the current fiscal year.

RenaissanceRe Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.70%. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.38. The ex-dividend date was Thursday, March 14th. RenaissanceRe’s dividend payout ratio (DPR) is 3.05%.

Insider Buying and Selling at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 750 shares of the firm’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $229.00, for a total value of $171,750.00. Following the transaction, the executive vice president now directly owns 79,699 shares of the company’s stock, valued at $18,251,071. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other RenaissanceRe news, EVP David E. Marra sold 750 shares of the firm’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $229.00, for a total value of $171,750.00. Following the transaction, the executive vice president now directly owns 79,699 shares of the company’s stock, valued at $18,251,071. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert Qutub sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $234.56, for a total transaction of $586,400.00. Following the transaction, the chief financial officer now directly owns 70,424 shares in the company, valued at $16,518,653.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,130 shares of company stock valued at $958,429. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

RNR has been the subject of several recent research reports. BMO Capital Markets upped their price target on shares of RenaissanceRe from $216.00 to $295.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. TD Cowen began coverage on shares of RenaissanceRe in a research report on Wednesday, January 10th. They set a “market perform” rating for the company. Evercore ISI increased their price objective on shares of RenaissanceRe from $213.00 to $216.00 and gave the stock an “underperform” rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. increased their price objective on shares of RenaissanceRe from $204.00 to $237.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, UBS Group increased their price objective on shares of RenaissanceRe from $229.00 to $238.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $247.89.

RenaissanceRe Company 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.