Brandywine Global Investment Management LLC Buys 11,174 Shares of RenaissanceRe Holdings Ltd. $RNR

Brandywine Global Investment Management LLC boosted its stake in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 22.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,640 shares of the insurance provider’s stock after acquiring an additional 11,174 shares during the period. Brandywine Global Investment Management LLC owned 0.13% of RenaissanceRe worth $17,050,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC boosted its holdings in RenaissanceRe by 26.0% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 4,065 shares of the insurance provider’s stock valued at $1,143,000 after acquiring an additional 839 shares in the last quarter. Egerton Capital UK LLP bought a new stake in RenaissanceRe in the fourth quarter valued at $137,944,000. ING Groep NV bought a new stake in shares of RenaissanceRe during the 4th quarter valued at $2,474,000. Los Angeles Capital Management LLC boosted its holdings in shares of RenaissanceRe by 25.4% during the 4th quarter. Los Angeles Capital Management LLC now owns 93,830 shares of the insurance provider’s stock valued at $26,381,000 after buying an additional 18,977 shares in the last quarter. Finally, Vestcor Inc boosted its holdings in shares of RenaissanceRe by 46.6% during the 4th quarter. Vestcor Inc now owns 5,118 shares of the insurance provider’s stock valued at $1,439,000 after buying an additional 1,626 shares in the last quarter. Institutional investors own 99.97% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on RNR shares. Evercore set a $309.00 target price on shares of RenaissanceRe in a report on Thursday, April 9th. Weiss Ratings upgraded shares of RenaissanceRe from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, May 26th. UBS Group boosted their target price on shares of RenaissanceRe from $319.00 to $326.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Citigroup boosted their target price on shares of RenaissanceRe from $333.00 to $335.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Finally, Barclays dropped their target price on shares of RenaissanceRe from $341.00 to $328.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 29th. Four investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, RenaissanceRe currently has a consensus rating of “Hold” and a consensus price target of $322.93.

RenaissanceRe Stock Performance

Shares of RenaissanceRe stock opened at $282.22 on Tuesday. The stock has a market cap of $12.03 billion, a price-to-earnings ratio of 4.70, a PEG ratio of 0.79 and a beta of 0.19. The firm’s 50-day moving average is $299.02 and its 200 day moving average is $288.55. RenaissanceRe Holdings Ltd. has a 1 year low of $231.17 and a 1 year high of $318.20. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.37.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $13.75 earnings per share (EPS) 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%. Sell-side analysts anticipate that RenaissanceRe Holdings Ltd. will post 40.02 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

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

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.