California Public Employees Retirement System Has $33.41 Million Holdings in RenaissanceRe Holdings Ltd. $RNR

California Public Employees Retirement System cut its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 13.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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’s holdings in RenaissanceRe were worth $33,406,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP increased its stake in shares of RenaissanceRe by 65.0% during the 3rd quarter. Quarry LP now owns 132 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 52 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in 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 during the period. Kingdom Financial Group LLC. bought a new stake in RenaissanceRe in the fourth quarter valued at approximately $36,000. Mcguire Capital Advisors Inc. acquired a new stake in shares of RenaissanceRe in the fourth quarter valued at approximately $38,000. Finally, SBI Securities Co. Ltd. boosted its stake in shares of RenaissanceRe by 33.6% during the 4th quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock worth $41,000 after acquiring an additional 37 shares during the period. 99.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RNR has been the topic of a number of recent analyst reports. Mizuho boosted their target price on RenaissanceRe from $325.00 to $329.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. JPMorgan Chase & Co. upped their price objective on shares of RenaissanceRe from $329.00 to $360.00 and gave the company a “neutral” rating in a report on Monday. Wall Street Zen lowered shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Wolfe Research set a $315.00 target price on shares of RenaissanceRe in a research note on Tuesday, July 7th. Finally, TD Cowen lifted their target price on shares of RenaissanceRe from $300.00 to $315.00 and gave the stock a “hold” rating in a report on Tuesday, July 7th. Five investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, RenaissanceRe has an average rating of “Hold” and an average price target of $333.87.

RenaissanceRe Trading Down 0.2%

Shares of RenaissanceRe stock opened at $320.86 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a 50-day moving average of $303.24 and a 200-day moving average of $297.63. RenaissanceRe Holdings Ltd. has a 52-week low of $231.17 and a 52-week high of $329.57. The stock has a market cap of $13.68 billion, a PE ratio of 5.35, a PEG ratio of 1.25 and a beta of 0.17.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data on Tuesday, March 31st. The insurance provider reported $13.75 earnings per share for the quarter. RenaissanceRe had a net margin of 24.25% and a return on equity of 24.01%. The business had revenue of $2.19 billion during the quarter. As a group, sell-side analysts forecast that RenaissanceRe Holdings Ltd. will post 40.57 EPS for the current year.

RenaissanceRe Dividend Announcement

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

RenaissanceRe Company 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.