Brandywine Global Investment Management LLC Trims Stock Position in RenaissanceRe Holdings Ltd. $RNR

Brandywine Global Investment Management LLC decreased its holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 2.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,030 shares of the insurance provider’s stock after selling 648 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.06% of RenaissanceRe worth $7,051,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of RNR. Amundi raised its stake in RenaissanceRe by 18.0% during the first quarter. Amundi now owns 6,924 shares of the insurance provider’s stock worth $1,699,000 after purchasing an additional 1,054 shares during the period. Jane Street Group LLC raised its position in shares of RenaissanceRe by 1,180.7% in the 1st quarter. Jane Street Group LLC now owns 74,217 shares of the insurance provider’s stock worth $17,812,000 after buying an additional 68,422 shares during the period. First Citizens Bank & Trust Co. boosted its holdings in RenaissanceRe by 276.7% in the second quarter. First Citizens Bank & Trust Co. now owns 4,882 shares of the insurance provider’s stock valued at $1,186,000 after acquiring an additional 3,586 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of RenaissanceRe by 34.3% in the 1st quarter. Federated Hermes Inc. now owns 6,033 shares of the insurance provider’s stock worth $1,448,000 after purchasing an additional 1,541 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of RenaissanceRe in the 2nd quarter worth about $527,000. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wolfe Research initiated coverage on shares of RenaissanceRe in a report on Monday, September 15th. They issued a “peer perform” rating on the stock. Barclays set a $278.00 price target on shares of RenaissanceRe in a research note on Wednesday, October 8th. UBS Group increased their price target on RenaissanceRe from $265.00 to $272.00 and gave the company a “neutral” rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $303.00 price objective on shares of RenaissanceRe in a report on Thursday, October 9th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of RenaissanceRe in a report on Friday, October 31st. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $284.50.

RenaissanceRe Stock Down 1.8%

Shares of RenaissanceRe stock opened at $256.89 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.40 and a quick ratio of 1.36. RenaissanceRe Holdings Ltd. has a 1-year low of $219.00 and a 1-year high of $290.78. The business’s fifty day moving average price is $254.74 and its two-hundred day moving average price is $247.04. The company has a market capitalization of $11.85 billion, a P/E ratio of 7.14, a PEG ratio of 2.08 and a beta of 0.25.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Tuesday, October 28th. The insurance provider reported $15.62 EPS for the quarter, beating analysts’ consensus estimates of $9.49 by $6.13. The company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $1.97 billion. RenaissanceRe had a return on equity of 16.83% and a net margin of 14.23%.The company’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period last year, the company earned $10.23 earnings per share. As a group, research analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be issued a $0.40 dividend. The ex-dividend date is Monday, December 15th. This represents a $1.60 annualized dividend and a dividend yield of 0.6%. RenaissanceRe’s dividend payout ratio (DPR) is 4.45%.

RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd., together with its subsidiaries, provides reinsurance and insurance products in the United States and internationally. The company operates through Property, and Casualty and Specialty segments. The Property segment writes property catastrophe excess of loss reinsurance and excess of loss reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, binding facilities, and regional U.S.