Northwest & Ethical Investments L.P. Purchases Shares of 62,724 RenaissanceRe Holdings Ltd. (NYSE:RNR)

by · The Markets Daily

Northwest & Ethical Investments L.P. acquired a new stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR – Free Report) in the 3rd quarter, according to the company in its most recent 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. Northwest & Ethical Investments L.P. owned approximately 0.12% of RenaissanceRe at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. ORG Wealth Partners LLC bought a new position in shares of RenaissanceRe in the third quarter valued at $30,000. Blue Trust Inc. purchased a new position in RenaissanceRe in the 2nd quarter worth about $27,000. UMB Bank n.a. raised its holdings in RenaissanceRe by 316.7% during the 3rd quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock worth $34,000 after buying an additional 95 shares during the period. V Square Quantitative Management LLC purchased a new stake in RenaissanceRe during the second quarter valued at about $31,000. Finally, Advisors Asset Management Inc. acquired a new position in shares of RenaissanceRe in the third quarter worth about $45,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of RenaissanceRe from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Jefferies Financial Group increased their target price on RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Barclays initiated coverage on RenaissanceRe in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $287.00 target price for the company. Citigroup increased their price objective on RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Finally, Keefe, Bruyette & Woods decreased their price objective on RenaissanceRe from $316.00 to $310.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $293.00.

View Our Latest Report on RNR

RenaissanceRe Stock Up 1.1 %

Shares of RNR stock traded up $3.06 on Thursday, hitting $285.44. The company’s stock had a trading volume of 391,683 shares, compared to its average volume of 359,324. RenaissanceRe Holdings Ltd. has a fifty-two week low of $188.24 and a fifty-two week high of $300.00. The firm’s fifty day moving average price is $269.50 and its 200-day moving average price is $245.75. The stock has a market capitalization of $14.83 billion, a price-to-earnings ratio of 4.11, a P/E/G ratio of 1.36 and a beta of 0.39. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.43 and a quick ratio of 1.43.

RenaissanceRe (NYSE:RNR – Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The insurance provider reported $10.23 earnings per share for the quarter, beating analysts’ consensus estimates of $7.89 by $2.34. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the business earned $8.33 EPS. The firm’s revenue was up 52.1% compared to the same quarter last year. Research analysts anticipate that RenaissanceRe Holdings Ltd. will post 41.94 EPS for the current year.

RenaissanceRe Dividend Announcement

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

RenaissanceRe Profile

(Free Report)

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.

Further Reading

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