RenaissanceRe Holdings Ltd. (RNR) Shares Bought by Oregon Public Employees Retirement Fund
Oregon Public Employees Retirement Fund grew its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,673 shares of the insurance provider’s stock after acquiring an additional 451 shares during the period. Oregon Public Employees Retirement Fund’s holdings in RenaissanceRe were worth $1,886,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. United Services Automobile Association raised its stake in shares of RenaissanceRe by 1,567.9% during the second quarter. United Services Automobile Association now owns 107,078 shares of the insurance provider’s stock valued at $7,131,000 after acquiring an additional 100,658 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of RenaissanceRe by 34.0% during the second quarter. State of Alaska Department of Revenue now owns 8,877 shares of the insurance provider’s stock valued at $1,067,000 after acquiring an additional 2,250 shares in the last quarter. Keybank National Association OH raised its stake in shares of RenaissanceRe by 15.2% during the second quarter. Keybank National Association OH now owns 11,150 shares of the insurance provider’s stock valued at $1,342,000 after acquiring an additional 1,475 shares in the last quarter. First Trust Advisors LP bought a new stake in shares of RenaissanceRe during the second quarter valued at approximately $5,697,000. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of RenaissanceRe by 4.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 161,782 shares of the insurance provider’s stock valued at $22,409,000 after acquiring an additional 7,104 shares in the last quarter. 94.77% of the stock is owned by hedge funds and other institutional investors.
RNR has been the subject of a number of recent research reports. Citigroup boosted their price objective on shares of RenaissanceRe from $144.00 to $151.00 and gave the stock a “buy” rating in a research note on Thursday, August 2nd. Goldman Sachs Group initiated coverage on shares of RenaissanceRe in a research note on Monday, June 18th. They issued a “neutral” rating and a $131.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $138.17.
RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data on Tuesday, July 24th. The insurance provider reported $5.23 EPS for the quarter, topping analysts’ consensus estimates of $2.94 by $2.29. The company had revenue of $604.50 million during the quarter, compared to the consensus estimate of $556.85 million. RenaissanceRe had a negative net margin of 11.73% and a negative return on equity of 3.54%. RenaissanceRe’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.79 earnings per share. equities analysts predict that RenaissanceRe Holdings Ltd. will post 13.5 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Thursday, September 13th. RenaissanceRe’s dividend payout ratio (DPR) is -15.81%.
RenaissanceRe Company Profile
RenaissanceRe Holdings Ltd., together with its subsidiaries, provides reinsurance and insurance coverages in the United States and internationally. Its 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, such as 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, including proportional reinsurance, property per risk, property reinsurance, and binding facilities and regional U.S.
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