Oregon Public Employees Retirement Fund Acquires 5,586 Shares of RenaissanceRe Holdings Ltd. (RNR)

Oregon Public Employees Retirement Fund boosted its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 30.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,655 shares of the insurance provider’s stock after buying an additional 5,586 shares during the period. Oregon Public Employees Retirement Fund owned about 0.06% of RenaissanceRe Holdings worth $3,289,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in RenaissanceRe Holdings by 4,513.2% in the first quarter. BlackRock Inc. now owns 4,001,408 shares of the insurance provider’s stock worth $578,804,000 after buying an additional 3,914,669 shares during the last quarter. Vanguard Group Inc. raised its stake in RenaissanceRe Holdings by 5.5% in the first quarter. Vanguard Group Inc. now owns 3,981,921 shares of the insurance provider’s stock worth $575,984,000 after buying an additional 206,444 shares during the last quarter. Bank of New York Mellon Corp raised its stake in RenaissanceRe Holdings by 20.2% in the first quarter. Bank of New York Mellon Corp now owns 644,447 shares of the insurance provider’s stock worth $93,219,000 after buying an additional 108,425 shares during the last quarter. JPMorgan Chase & Co. raised its stake in RenaissanceRe Holdings by 213.0% in the first quarter. JPMorgan Chase & Co. now owns 459,902 shares of the insurance provider’s stock worth $66,524,000 after buying an additional 312,987 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in RenaissanceRe Holdings by 13.8% in the first quarter. AQR Capital Management LLC now owns 384,427 shares of the insurance provider’s stock worth $55,607,000 after buying an additional 46,610 shares during the last quarter. 92.83% of the stock is currently owned by institutional investors and hedge funds.

Shares of RenaissanceRe Holdings Ltd. (NYSE RNR) traded down 0.49% on Friday, reaching $145.54. The company’s stock had a trading volume of 210,749 shares. The stock has a market capitalization of $5.86 billion, a PE ratio of 12.42 and a beta of 0.65. RenaissanceRe Holdings Ltd. has a 1-year low of $116.28 and a 1-year high of $152.00. The stock has a 50-day moving average of $144.51 and a 200 day moving average of $143.10.

RenaissanceRe Holdings (NYSE:RNR) last posted its quarterly earnings data on Tuesday, July 25th. The insurance provider reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.33 by $0.46. RenaissanceRe Holdings had a net margin of 28.30% and a return on equity of 8.49%. The firm had revenue of $555.75 million during the quarter, compared to analyst estimates of $540.65 million. During the same quarter last year, the business posted $1.55 EPS. The company’s revenue was up 6.9% on a year-over-year basis. On average, equities analysts forecast that RenaissanceRe Holdings Ltd. will post $8.66 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Thursday, September 14th. RenaissanceRe Holdings’s dividend payout ratio is 10.90%.

RenaissanceRe Holdings announced that its Board of Directors has initiated a share repurchase plan on Wednesday, May 17th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the insurance provider to buy up to 99% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

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A number of equities research analysts recently issued reports on RNR shares. ValuEngine raised RenaissanceRe Holdings from a “hold” rating to a “buy” rating in a research note on Friday, July 28th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $144.00 target price (up previously from $138.00) on shares of RenaissanceRe Holdings in a research note on Friday, July 7th. Wells Fargo & Company reaffirmed a “hold” rating and issued a $140.00 target price on shares of RenaissanceRe Holdings in a research note on Wednesday, July 26th. Zacks Investment Research lowered RenaissanceRe Holdings from a “buy” rating to a “hold” rating in a research note on Friday, July 14th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $143.00 target price on shares of RenaissanceRe Holdings in a research note on Wednesday, June 28th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. RenaissanceRe Holdings presently has an average rating of “Hold” and an average target price of $143.20.

In other RenaissanceRe Holdings news, CEO Kevin Odonnell sold 38,344 shares of RenaissanceRe Holdings stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $147.93, for a total transaction of $5,672,227.92. Following the completion of the sale, the chief executive officer now owns 208,150 shares of the company’s stock, valued at approximately $30,791,629.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Ross Curtis sold 5,300 shares of RenaissanceRe Holdings stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $148.23, for a total transaction of $785,619.00. Following the sale, the senior vice president now directly owns 98,564 shares of the company’s stock, valued at approximately $14,610,141.72. The disclosure for this sale can be found here. Insiders sold a total of 57,644 shares of company stock valued at $8,462,507 in the last ninety days. Company insiders own 1.80% of the company’s stock.

RenaissanceRe Holdings Company Profile

RenaissanceRe Holdings Ltd. provides reinsurance and insurance coverages and related services to a range of customers. The Company’s products include property, casualty and specialty reinsurance and certain insurance products principally distributed through intermediaries. Its segments include Property; Casualty and Specialty, and Other category.

Institutional Ownership by Quarter for RenaissanceRe Holdings (NYSE:RNR)

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