LSV Asset Management Invests $2.95 Million in RenaissanceRe Holdings Ltd. $RNR

LSV Asset Management acquired a new position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) in the 4th quarter, HoldingsChannel reports. The firm acquired 10,500 shares of the insurance provider’s stock, valued at approximately $2,952,000.

Several other hedge funds also recently modified their holdings of RNR. Quarry LP increased its holdings in shares of RenaissanceRe by 65.0% during the third quarter. Quarry LP now owns 132 shares of the insurance provider’s stock worth $34,000 after buying an additional 52 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of RenaissanceRe by 235.0% in the third quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 94 shares in the last quarter. Root Financial Partners LLC acquired a new stake in shares of RenaissanceRe in the third quarter valued at approximately $36,000. Kingdom Financial Group LLC. acquired a new stake in shares of RenaissanceRe in the fourth quarter valued at approximately $36,000. Finally, SBI Securities Co. Ltd. increased its holdings 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 purchasing an additional 37 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RNR. Citigroup raised their price target on shares of RenaissanceRe from $333.00 to $335.00 and gave the company a “neutral” rating in a report on Friday, May 1st. UBS Group raised their price target on shares of RenaissanceRe from $319.00 to $326.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Cantor Fitzgerald raised shares of RenaissanceRe from a “neutral” rating to an “overweight” rating and raised their price target for the company from $306.00 to $340.00 in a report on Thursday, April 9th. Bank of America lowered their price target on shares of RenaissanceRe to $426.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Finally, Keefe, Bruyette & Woods raised their price target on shares of RenaissanceRe from $323.00 to $327.00 and gave the company a “market perform” rating in a report on Tuesday, April 7th. Four investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $322.93.

RenaissanceRe Price Performance

Shares of RNR stock opened at $294.91 on Wednesday. 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 $12.57 billion, a PE ratio of 4.92, a PEG ratio of 0.78 and a beta of 0.22. 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 $301.08 and its two-hundred day moving average price is $287.51.

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 company 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. 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 currently 2.73%.

RenaissanceRe 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.