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

Brandywine Global Investment Management LLC increased its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 22.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,640 shares of the insurance provider’s stock after purchasing an additional 11,174 shares during the period. Brandywine Global Investment Management LLC’s holdings in RenaissanceRe were worth $17,050,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Quarry LP lifted its stake in RenaissanceRe by 65.0% during the 3rd quarter. Quarry LP now owns 132 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 52 shares during the period. CIBC Private Wealth Group LLC lifted its stake in RenaissanceRe by 235.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 94 shares during the period. Kingdom Financial Group LLC. bought a new position in RenaissanceRe during the 4th quarter valued at about $36,000. SBI Securities Co. Ltd. lifted its stake in RenaissanceRe by 33.6% during the 4th quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock valued at $41,000 after acquiring an additional 37 shares during the period. Finally, Clearstead Advisors LLC lifted its stake in RenaissanceRe by 134.7% during the 4th quarter. Clearstead Advisors LLC now owns 176 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 101 shares during the period. Institutional investors own 99.97% of the company’s stock.

Analyst Ratings Changes

RNR has been the topic of several research analyst reports. Cantor Fitzgerald upgraded shares of RenaissanceRe from a “neutral” rating to an “overweight” rating and upped their target price for the company from $306.00 to $340.00 in a research note on Thursday, April 9th. 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 upped 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. Evercore set a $309.00 target price on shares of RenaissanceRe in a research note on Thursday, April 9th. Finally, Keefe, Bruyette & Woods upped 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. Four research 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $322.93.

RenaissanceRe Price Performance

NYSE RNR opened at $282.22 on Tuesday. RenaissanceRe Holdings Ltd. has a 52 week low of $231.17 and a 52 week high of $318.20. The firm has a market capitalization of $12.03 billion, a P/E ratio of 4.70, a PEG ratio of 0.79 and a beta of 0.19. 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 company has a 50-day moving average price of $299.02 and a 200-day moving average price of $288.55.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings results 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 firm had revenue of $2.19 billion during the quarter. Equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 40.02 earnings per share for the current year.

RenaissanceRe Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given 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 is presently 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.