Los Angeles Capital Management LLC Purchases 18,977 Shares of RenaissanceRe Holdings Ltd. $RNR

Los Angeles Capital Management LLC increased its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 25.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 93,830 shares of the insurance provider’s stock after buying an additional 18,977 shares during the period. Los Angeles Capital Management LLC’s holdings in RenaissanceRe were worth $26,381,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Capital World Investors boosted its holdings in shares of RenaissanceRe by 0.3% during the 3rd quarter. Capital World Investors now owns 2,649,518 shares of the insurance provider’s stock worth $672,792,000 after buying an additional 7,839 shares during the period. Lightrock Netherlands B.V. boosted its holdings in shares of RenaissanceRe by 4,690.1% during the 4th quarter. Lightrock Netherlands B.V. now owns 1,017,508 shares of the insurance provider’s stock worth $286,083,000 after buying an additional 996,266 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of RenaissanceRe by 4.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,001,410 shares of the insurance provider’s stock worth $254,273,000 after buying an additional 45,936 shares during the period. Bank of America Corp DE boosted its holdings in shares of RenaissanceRe by 17.6% during the 2nd quarter. Bank of America Corp DE now owns 803,547 shares of the insurance provider’s stock worth $195,182,000 after buying an additional 120,063 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of RenaissanceRe by 6.2% during the 3rd quarter. Invesco Ltd. now owns 618,974 shares of the insurance provider’s stock worth $157,176,000 after buying an additional 36,254 shares during the period. 99.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RNR has been the subject of a number of research reports. Wells Fargo & Company increased their price target on shares of RenaissanceRe from $305.00 to $306.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. UBS Group increased 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. Keefe, Bruyette & Woods increased 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. Weiss Ratings raised shares of RenaissanceRe from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, May 26th. Finally, Barclays reduced their price target on shares of RenaissanceRe from $341.00 to $328.00 and set an “equal weight” rating for the company in a report on Wednesday, April 29th. Four research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $322.93.

RenaissanceRe Price Performance

Shares of RenaissanceRe stock opened at $288.94 on Monday. The firm has a fifty day moving average price of $299.29 and a two-hundred day moving average price of $288.43. The company has a market cap of $12.32 billion, a PE ratio of 4.82, a price-to-earnings-growth ratio of 0.79 and a beta of 0.18. RenaissanceRe Holdings Ltd. has a fifty-two week low of $231.17 and a fifty-two week high of $318.20. 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 released its quarterly earnings data on Tuesday, March 31st. The insurance provider reported $13.75 EPS 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%. Analysts expect that RenaissanceRe Holdings Ltd. will post 40.02 EPS for the current year.

RenaissanceRe Dividend Announcement

The firm 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. 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 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.