Public Employees Retirement System of Ohio Takes $5.23 Million Position in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Public Employees Retirement System of Ohio purchased a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 21,008 shares of the insurance provider's stock, valued at approximately $5,227,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of America Corp DE increased its stake in shares of RenaissanceRe by 17.9% in the fourth quarter. Bank of America Corp DE now owns 817,247 shares of the insurance provider's stock valued at $203,339,000 after buying an additional 124,125 shares in the last quarter. Impax Asset Management Group plc increased its position in RenaissanceRe by 10.8% in the 4th quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider's stock valued at $466,969,000 after acquiring an additional 182,530 shares in the last quarter. Trexquant Investment LP acquired a new stake in RenaissanceRe in the 4th quarter valued at about $561,000. Barclays PLC increased its position in RenaissanceRe by 57.1% in the 3rd quarter. Barclays PLC now owns 22,923 shares of the insurance provider's stock valued at $6,244,000 after acquiring an additional 8,333 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of RenaissanceRe by 4.2% in the fourth quarter. Deutsche Bank AG now owns 10,715 shares of the insurance provider's stock valued at $2,666,000 after purchasing an additional 431 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.

RenaissanceRe Trading Up 1.8%

Shares of RenaissanceRe stock traded up $4.40 during trading on Monday, hitting $253.82. 440,270 shares of the company were exchanged, compared to its average volume of 433,908. The firm has a market capitalization of $12.35 billion, a P/E ratio of 7.25, a price-to-earnings-growth ratio of 2.09 and a beta of 0.34. RenaissanceRe Holdings Ltd. has a 1-year low of $208.98 and a 1-year high of $300.00. The firm's fifty day moving average price is $241.15 and its 200 day moving average price is $247.32. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42.

RenaissanceRe (NYSE:RNR - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The insurance provider reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($1.17). The company had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.36 billion. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. RenaissanceRe's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $12.18 earnings per share. As a group, sell-side analysts expect that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Friday, June 13th. RenaissanceRe's dividend payout ratio (DPR) is 5.10%.

Insider Activity

In other RenaissanceRe news, CAO James Christopher Fraser sold 332 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $249.54, for a total value of $82,847.28. Following the completion of the transaction, the chief accounting officer now directly owns 27,154 shares of the company's stock, valued at approximately $6,776,009.16. The trade was a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

RNR has been the subject of a number of research reports. Wells Fargo & Company lowered their price target on shares of RenaissanceRe from $277.00 to $271.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Keefe, Bruyette & Woods lifted their target price on RenaissanceRe from $279.00 to $282.00 and gave the company an "outperform" rating in a research note on Tuesday, April 29th. Barclays lowered their target price on RenaissanceRe from $234.00 to $231.00 and set an "underweight" rating for the company in a research note on Friday, April 11th. Morgan Stanley set a $285.00 price objective on RenaissanceRe and gave the stock an "overweight" rating in a research report on Monday, May 19th. Finally, JMP Securities reiterated a "market perform" rating on shares of RenaissanceRe in a research report on Thursday, April 24th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $283.60.

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.