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

Legal & General Group Plc trimmed its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 11.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,786 shares of the insurance provider’s stock after selling 9,014 shares during the period. Legal & General Group Plc’s holdings in RenaissanceRe were worth $19,902,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in RNR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of RenaissanceRe by 39.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,687 shares of the insurance provider’s stock worth $2,325,000 after acquiring an additional 2,737 shares during the period. Millennium Management LLC acquired a new stake in shares of RenaissanceRe during the first quarter worth $15,289,000. Jones Financial Companies Lllp raised its holdings in shares of RenaissanceRe by 900.0% during the first quarter. Jones Financial Companies Lllp now owns 1,350 shares of the insurance provider’s stock worth $324,000 after acquiring an additional 1,215 shares during the period. Goldman Sachs Group Inc. increased its stake in RenaissanceRe by 72.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 57,186 shares of the insurance provider’s stock valued at $13,725,000 after buying an additional 24,027 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in RenaissanceRe by 18.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 441 shares of the insurance provider’s stock valued at $107,000 after buying an additional 69 shares during the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods lifted their price target 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. Weiss Ratings upgraded shares of RenaissanceRe from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, May 26th. UBS Group lifted their price target 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. Wall Street Zen lowered shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Cantor Fitzgerald upgraded shares of RenaissanceRe from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $306.00 to $340.00 in a research note on Thursday, April 9th. Four equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $322.93.

RenaissanceRe Stock Performance

Shares of RNR opened at $280.46 on Monday. The firm has a 50-day moving average of $300.49 and a 200-day moving average of $287.88. RenaissanceRe Holdings Ltd. has a one year low of $231.17 and a one year high of $318.20. The company has a market cap of $11.96 billion, a PE ratio of 4.68, a price-to-earnings-growth ratio of 0.77 and a beta of 0.19. 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 data on Tuesday, March 31st. The insurance provider reported $13.75 EPS for the quarter. RenaissanceRe had a net margin of 24.25% and a return on equity of 24.01%. The company had revenue of $2.19 billion during the quarter. As a group, equities analysts forecast that RenaissanceRe Holdings Ltd. will post 40.02 earnings per share for the current year.

RenaissanceRe Announces Dividend

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 given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, June 15th. RenaissanceRe’s dividend payout ratio (DPR) is 2.73%.

RenaissanceRe Company Profile

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.