Alaska Permanent Fund Corp Acquires 504 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Alaska Permanent Fund Corp lifted its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 3.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 17,425 shares of the insurance provider’s stock after acquiring an additional 504 shares during the period. Alaska Permanent Fund Corp’s holdings in RenaissanceRe were worth $4,095,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rise Advisors LLC acquired a new position in RenaissanceRe during the first quarter worth $31,000. Mather Group LLC. bought a new stake in RenaissanceRe during the first quarter worth about $34,000. GAMMA Investing LLC acquired a new stake in shares of RenaissanceRe during the fourth quarter worth approximately $37,000. Bruce G. Allen Investments LLC bought a new position in shares of RenaissanceRe in the fourth quarter valued at approximately $38,000. Finally, Daiwa Securities Group Inc. acquired a new position in shares of RenaissanceRe in the 4th quarter worth approximately $39,000. 99.97% of the stock is owned by institutional investors.

RenaissanceRe Stock Performance

Shares of NYSE:RNR opened at $225.94 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.21. RenaissanceRe Holdings Ltd. has a 1-year low of $174.22 and a 1-year high of $239.42. The stock has a market capitalization of $11.95 billion, a P/E ratio of 4.99, a P/E/G ratio of 1.48 and a beta of 0.38. The business has a 50-day moving average price of $223.72 and a two-hundred day moving average price of $219.35.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings results on Tuesday, April 30th. The insurance provider reported $12.18 earnings per share for the quarter, topping analysts’ consensus estimates of $9.86 by $2.32. RenaissanceRe had a net margin of 24.79% and a return on equity of 27.09%. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the previous year, the firm posted $8.16 earnings per share. RenaissanceRe’s revenue for the quarter was up 41.3% compared to the same quarter last year. Equities analysts predict that RenaissanceRe Holdings Ltd. will post 37.22 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Friday, June 14th. RenaissanceRe’s dividend payout ratio (DPR) is currently 3.45%.

Analyst Upgrades and Downgrades

RNR has been the subject of a number of recent analyst reports. Evercore ISI raised their price target on RenaissanceRe from $216.00 to $218.00 and gave the company an “underperform” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. raised their target price on RenaissanceRe from $237.00 to $245.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $249.00.

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.