RenaissanceRe Holdings Ltd. $RNR Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System reduced its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 13.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 112,390 shares of the insurance provider’s stock after selling 17,248 shares during the quarter. California Public Employees Retirement System owned about 0.26% of RenaissanceRe worth $33,406,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP lifted its holdings in shares of RenaissanceRe by 65.0% in the third quarter. Quarry LP now owns 132 shares of the insurance provider’s stock valued at $34,000 after buying an additional 52 shares during the period. CIBC Private Wealth Group LLC increased its holdings in shares of RenaissanceRe by 235.0% in the third quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider’s stock valued at $34,000 after buying an additional 94 shares in the last quarter. Kingdom Financial Group LLC. acquired a new position in RenaissanceRe in the 4th quarter worth approximately $36,000. Mcguire Capital Advisors Inc. acquired a new stake in RenaissanceRe during the 4th quarter worth about $38,000. Finally, SBI Securities Co. Ltd. boosted its position in RenaissanceRe by 33.6% during the fourth quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 37 shares during the last quarter. Institutional investors own 99.97% of the company’s stock.

RenaissanceRe Stock Down 0.2%

RNR stock opened at $320.86 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a market capitalization of $13.68 billion, a P/E ratio of 5.35, a P/E/G ratio of 1.25 and a beta of 0.17. RenaissanceRe Holdings Ltd. has a fifty-two week low of $231.17 and a fifty-two week high of $329.57. The business has a 50-day moving average of $303.24 and a 200-day moving average of $297.63.

RenaissanceRe (NYSE:RNR) last released its earnings results on Tuesday, March 31st. The insurance provider reported $13.75 EPS for the quarter. RenaissanceRe had a return on equity of 24.01% and a net margin of 24.25%.The firm had revenue of $2.19 billion for the quarter. On average, sell-side analysts anticipate that RenaissanceRe Holdings Ltd. will post 40.57 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a $0.41 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.64 dividend on an annualized basis and a yield of 0.5%. RenaissanceRe’s dividend payout ratio (DPR) is 2.73%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Evercore set a $320.00 price objective on RenaissanceRe in a research report on Friday, July 10th. Bank of America decreased 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. TD Cowen boosted their price objective on shares of RenaissanceRe from $300.00 to $315.00 and gave the stock a “hold” rating in a research report on Tuesday, July 7th. Keefe, Bruyette & Woods upped their target price on shares of RenaissanceRe from $327.00 to $342.00 and gave the company a “market perform” rating in a research report on Wednesday, July 8th. Finally, Wall Street Zen cut RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Five equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, RenaissanceRe currently has a consensus rating of “Hold” and a consensus target price of $333.87.

RenaissanceRe 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.