LSV Asset Management Takes Position in RenaissanceRe Holdings Ltd. $RNR

LSV Asset Management acquired a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,500 shares of the insurance provider’s stock, valued at approximately $2,952,000.

A number of other institutional investors and hedge funds also recently modified their holdings of RNR. SBI Securities Co. Ltd. lifted its stake in shares of RenaissanceRe by 33.6% in the fourth quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock valued at $41,000 after buying an additional 37 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in shares of RenaissanceRe by 20.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 230 shares of the insurance provider’s stock valued at $65,000 after buying an additional 39 shares during the period. AMG National Trust Bank lifted its stake in shares of RenaissanceRe by 0.7% in the third quarter. AMG National Trust Bank now owns 5,787 shares of the insurance provider’s stock valued at $1,469,000 after buying an additional 40 shares during the period. Signaturefd LLC lifted its stake in shares of RenaissanceRe by 8.9% in the fourth quarter. Signaturefd LLC now owns 504 shares of the insurance provider’s stock valued at $142,000 after buying an additional 41 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of RenaissanceRe by 2.6% in the third quarter. Brown Brothers Harriman & Co. now owns 2,006 shares of the insurance provider’s stock valued at $509,000 after buying an additional 51 shares during the period. Institutional investors and hedge funds own 99.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on RNR shares. UBS Group increased their target price on shares of RenaissanceRe from $319.00 to $326.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Morgan Stanley cut shares of RenaissanceRe from an “overweight” rating to an “equal weight” rating and set a $310.00 target price for the company. in a research note on Thursday, February 26th. Keefe, Bruyette & Woods increased their target price on shares of RenaissanceRe from $323.00 to $327.00 and gave the company a “market perform” rating in a research note on Tuesday, April 7th. Wall Street Zen cut shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Barclays reduced their target price on shares of RenaissanceRe from $341.00 to $328.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 29th. Four equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $322.93.

RenaissanceRe Stock Performance

NYSE:RNR opened at $294.91 on Wednesday. RenaissanceRe Holdings Ltd. has a 12-month low of $231.17 and a 12-month high of $318.20. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $12.57 billion, a PE ratio of 4.92, a price-to-earnings-growth ratio of 0.78 and a beta of 0.22. The firm has a 50-day moving average price of $301.08 and a 200 day moving average price of $287.51.

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

RenaissanceRe Dividend Announcement

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