Northwest & Ethical Investments L.P. Has $21.10 Million Stock Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Northwest & Ethical Investments L.P. raised its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 35.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,798 shares of the insurance provider’s stock after purchasing an additional 22,074 shares during the period. Northwest & Ethical Investments L.P. owned 0.16% of RenaissanceRe worth $21,099,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RNR. Boston Partners grew its holdings in RenaissanceRe by 28.5% during the fourth quarter. Boston Partners now owns 2,013,382 shares of the insurance provider’s stock valued at $500,991,000 after purchasing an additional 446,781 shares during the last quarter. Impax Asset Management Group plc grew its holdings in RenaissanceRe by 10.8% during the fourth quarter. Impax Asset Management Group plc now owns 1,880,166 shares of the insurance provider’s stock valued at $466,969,000 after purchasing an additional 182,530 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC acquired a new position in RenaissanceRe during the third quarter valued at approximately $18,969,000. World Investment Advisors LLC acquired a new position in RenaissanceRe during the third quarter valued at approximately $16,176,000. Finally, Raymond James Financial Inc. acquired a new position in RenaissanceRe during the fourth quarter valued at approximately $8,498,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

RenaissanceRe Stock Up 0.1 %

RNR opened at $240.88 on Thursday. The company has a market capitalization of $11.86 billion, a P/E ratio of 6.88, a P/E/G ratio of 2.09 and a beta of 0.38. The firm’s fifty day moving average price is $241.62 and its two-hundred day moving average price is $257.35. RenaissanceRe Holdings Ltd. has a fifty-two week low of $208.98 and a fifty-two week high of $300.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.42 and a quick ratio of 1.42.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data on Tuesday, January 28th. The insurance provider reported $8.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.94 by $1.12. RenaissanceRe had a return on equity of 23.41% and a net margin of 15.99%. On average, analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current year.

RenaissanceRe Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from RenaissanceRe’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.66%. RenaissanceRe’s dividend payout ratio (DPR) is presently 4.57%.

Insider Buying and Selling at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total transaction of $254,160.00. Following the completion of the transaction, the executive vice president now directly owns 79,392 shares of the company’s stock, valued at approximately $20,178,270.72. This trade represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on RNR shares. Keefe, Bruyette & Woods lowered their price objective on shares of RenaissanceRe from $318.00 to $294.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 4th. Jefferies Financial Group restated a “hold” rating and issued a $282.00 price objective (down previously from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. Wells Fargo & Company lowered their price objective on shares of RenaissanceRe from $288.00 to $277.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. JMP Securities restated a “market perform” rating on shares of RenaissanceRe in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. raised their price objective on shares of RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a research note on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $279.90.

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.