Legal & General Group Plc Has $19.90 Million Stock Holdings in RenaissanceRe Holdings Ltd. $RNR

Legal & General Group Plc lessened its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 11.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,786 shares of the insurance provider’s stock after selling 9,014 shares during the period. Legal & General Group Plc owned approximately 0.15% of RenaissanceRe worth $19,902,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Lightrock Netherlands B.V. increased its holdings in shares of RenaissanceRe by 4,690.1% during the fourth quarter. Lightrock Netherlands B.V. now owns 1,017,508 shares of the insurance provider’s stock worth $286,083,000 after buying an additional 996,266 shares in the last quarter. M&T Bank Corp increased its holdings in shares of RenaissanceRe by 8,296.5% during the fourth quarter. M&T Bank Corp now owns 290,352 shares of the insurance provider’s stock worth $81,635,000 after buying an additional 286,894 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of RenaissanceRe by 154.5% during the third quarter. AQR Capital Management LLC now owns 397,027 shares of the insurance provider’s stock worth $99,769,000 after buying an additional 241,001 shares in the last quarter. Millennium Management LLC increased its holdings in shares of RenaissanceRe by 347.6% during the third quarter. Millennium Management LLC now owns 236,919 shares of the insurance provider’s stock worth $60,161,000 after buying an additional 183,988 shares in the last quarter. Finally, Two Sigma Investments LP increased its holdings in shares of RenaissanceRe by 330.0% during the third quarter. Two Sigma Investments LP now owns 174,368 shares of the insurance provider’s stock worth $44,277,000 after buying an additional 133,820 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

RenaissanceRe Price Performance

Shares of RNR stock opened at $280.46 on Monday. RenaissanceRe Holdings Ltd. has a 52-week low of $231.17 and a 52-week high of $318.20. The stock has a market cap of $11.96 billion, a PE ratio of 4.68, a PEG ratio of 0.77 and a beta of 0.19. 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’s 50 day moving average price is $300.49 and its two-hundred day moving average price is $287.88.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $13.75 earnings per share for the quarter. The company had revenue of $2.19 billion for the quarter. RenaissanceRe had a net margin of 24.25% and a return on equity of 24.01%. As a group, analysts forecast that RenaissanceRe Holdings Ltd. will post 40.02 EPS for the current year.

RenaissanceRe Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, June 15th. RenaissanceRe’s dividend payout ratio (DPR) is presently 2.73%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on RNR shares. TD Cowen raised their price objective on shares of RenaissanceRe from $280.00 to $290.00 and gave the stock a “hold” rating in a report on Thursday, February 26th. Evercore set a $309.00 price objective on shares of RenaissanceRe in a report on Thursday, April 9th. Barclays decreased their price target on shares of RenaissanceRe from $341.00 to $328.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 29th. Cantor Fitzgerald raised shares of RenaissanceRe from a “neutral” rating to an “overweight” rating and increased their price target for the company from $306.00 to $340.00 in a research note on Thursday, April 9th. Finally, Weiss Ratings raised shares of RenaissanceRe from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, May 26th. Four analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, RenaissanceRe currently has an average rating of “Hold” and a consensus target price of $322.93.

About RenaissanceRe

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.