Public Employees Retirement System of Ohio Sells 1,019 Shares of RenaissanceRe Holdings Ltd. $RNR

Public Employees Retirement System of Ohio lessened its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 5.5% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,550 shares of the insurance provider’s stock after selling 1,019 shares during the period. Public Employees Retirement System of Ohio’s holdings in RenaissanceRe were worth $4,263,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Two Sigma Investments LP grew its position in shares of RenaissanceRe by 35.8% during the 4th quarter. Two Sigma Investments LP now owns 3,950 shares of the insurance provider’s stock valued at $983,000 after acquiring an additional 1,042 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of RenaissanceRe during the 4th quarter valued at approximately $1,508,000. GAMMA Investing LLC grew its position in shares of RenaissanceRe by 33,487.8% during the 1st quarter. GAMMA Investing LLC now owns 396,000 shares of the insurance provider’s stock valued at $95,040,000 after acquiring an additional 394,821 shares during the period. Rhumbline Advisers grew its position in shares of RenaissanceRe by 1.2% during the 1st quarter. Rhumbline Advisers now owns 137,005 shares of the insurance provider’s stock valued at $32,881,000 after acquiring an additional 1,649 shares during the period. Finally, Merit Financial Group LLC bought a new position in shares of RenaissanceRe during the 1st quarter valued at approximately $206,000. 99.97% of the stock is owned by institutional investors.

RenaissanceRe Stock Performance

NYSE RNR opened at $250.23 on Tuesday. RenaissanceRe Holdings Ltd. has a 1 year low of $219.00 and a 1 year high of $300.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.36 and a quick ratio of 1.36. The stock has a market capitalization of $11.78 billion, a PE ratio of 6.39, a P/E/G ratio of 2.46 and a beta of 0.29. The company’s 50 day simple moving average is $243.11 and its two-hundred day simple moving average is $241.98.

RenaissanceRe (NYSE:RNR) last posted its earnings results on Wednesday, July 23rd. The insurance provider reported $12.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.28 by $2.01. RenaissanceRe had a net margin of 15.44% and a return on equity of 15.00%. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.96 billion. During the same period in the prior year, the company posted $12.41 EPS. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. Analysts predict that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $0.40 per share. The ex-dividend date is Monday, September 15th. This represents a $1.60 annualized dividend and a dividend yield of 0.6%. RenaissanceRe’s dividend payout ratio (DPR) is 4.09%.

Analyst Upgrades and Downgrades

RNR has been the subject of a number of research reports. UBS Group increased their target price on shares of RenaissanceRe from $250.00 to $265.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. Wells Fargo & Company reissued an “equal weight” rating and set a $269.00 target price (up from $267.00) on shares of RenaissanceRe in a research report on Thursday, July 10th. Cantor Fitzgerald raised shares of RenaissanceRe to a “hold” rating in a research report on Wednesday, August 13th. Wolfe Research initiated coverage on shares of RenaissanceRe in a research note on Monday, September 15th. They set a “peer perform” rating on the stock. Finally, Morgan Stanley dropped their price target on shares of RenaissanceRe from $285.00 to $280.00 and set an “overweight” rating on the stock in a research note on Monday, July 14th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $282.09.

About RenaissanceRe

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.