Northwest & Ethical Investments L.P. Purchases New Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Northwest & Ethical Investments L.P. acquired a new position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 62,724 shares of the insurance provider’s stock, valued at approximately $17,086,000.

Several other institutional investors also recently modified their holdings of RNR. ORG Wealth Partners LLC acquired a new stake in RenaissanceRe during the third quarter worth $30,000. Blue Trust Inc. acquired a new stake in shares of RenaissanceRe during the 2nd quarter valued at about $27,000. UMB Bank n.a. increased its stake in RenaissanceRe by 316.7% in the third quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 95 shares during the period. V Square Quantitative Management LLC acquired a new position in RenaissanceRe in the second quarter worth about $31,000. Finally, Advisors Asset Management Inc. bought a new position in RenaissanceRe during the third quarter worth about $45,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

RenaissanceRe Trading Up 1.1 %

Shares of NYSE:RNR traded up $3.06 during trading on Thursday, hitting $285.44. 391,683 shares of the company’s stock were exchanged, compared to its average volume of 359,324. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.18. The firm has a market cap of $14.83 billion, a P/E ratio of 4.11, a PEG ratio of 1.36 and a beta of 0.39. The firm has a 50-day moving average price of $269.50 and a two-hundred day moving average price of $245.75. RenaissanceRe Holdings Ltd. has a 1-year low of $188.24 and a 1-year high of $300.00.

RenaissanceRe (NYSE:RNR) last released its earnings results on Wednesday, November 6th. The insurance provider reported $10.23 EPS for the quarter, topping analysts’ consensus estimates of $7.89 by $2.34. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.35 billion. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The business’s quarterly revenue was up 52.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $8.33 EPS. Equities analysts predict that RenaissanceRe Holdings Ltd. will post 41.94 earnings per share for the current year.

RenaissanceRe Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Friday, December 13th. RenaissanceRe’s payout ratio is 2.25%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Jefferies Financial Group upped their price target on RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Wells Fargo & Company lifted their target price on shares of RenaissanceRe from $280.00 to $314.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Citigroup raised their price target on RenaissanceRe from $262.00 to $298.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Bank of America boosted their price objective on RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, StockNews.com lowered RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $293.00.

Insiders Place Their Bets

In related news, EVP David E. Marra sold 1,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $269.00, for a total value of $269,000.00. Following the sale, the executive vice president now directly owns 83,044 shares in the company, valued at $22,338,836. This trade represents a 1.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.30% of the company’s stock.

RenaissanceRe 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.