Charles Schwab Investment Management Inc. Has $105.48 Million Stock Holdings in RenaissanceRe Holdings Ltd. (NYSE:RNR)

Charles Schwab Investment Management Inc. lowered its position in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 7.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 387,205 shares of the insurance provider’s stock after selling 31,116 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.74% of RenaissanceRe worth $105,475,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. acquired a new stake in shares of RenaissanceRe during the second quarter worth approximately $27,000. ORG Wealth Partners LLC bought a new stake in RenaissanceRe during the 3rd quarter worth approximately $30,000. V Square Quantitative Management LLC acquired a new stake in RenaissanceRe during the 2nd quarter valued at $31,000. UMB Bank n.a. raised its position in RenaissanceRe by 316.7% in the 3rd quarter. UMB Bank n.a. now owns 125 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 95 shares during the last quarter. Finally, Advisors Asset Management Inc. acquired a new position in RenaissanceRe in the third quarter worth $45,000. 99.97% of the stock is owned by institutional investors.

RenaissanceRe Trading Up 2.8 %

NYSE RNR opened at $279.51 on Tuesday. RenaissanceRe Holdings Ltd. has a 12 month low of $188.24 and a 12 month high of $300.00. The stock has a 50-day simple moving average of $269.13 and a 200 day simple moving average of $245.35. 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 company has a market capitalization of $14.52 billion, a PE ratio of 4.03, a P/E/G ratio of 1.33 and a beta of 0.39.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings results on Wednesday, November 6th. The insurance provider reported $10.23 EPS for the quarter, beating analysts’ consensus estimates of $7.89 by $2.34. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.35 billion. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. RenaissanceRe’s revenue was up 52.1% on a year-over-year basis. During the same period in the prior year, the business posted $8.33 EPS. Research analysts forecast that RenaissanceRe Holdings Ltd. will post 41.94 EPS for the current year.

RenaissanceRe Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.56%. RenaissanceRe’s dividend payout ratio is 2.25%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on RenaissanceRe from $274.00 to $280.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Wells Fargo & Company raised their price objective on shares of RenaissanceRe from $280.00 to $314.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Citigroup upped their target price on shares of RenaissanceRe from $262.00 to $298.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Jefferies Financial Group raised their price target on shares of RenaissanceRe from $270.00 to $314.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods reduced their price objective on RenaissanceRe from $316.00 to $310.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $293.00.

Insider Activity

In other news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $269.00, for a total transaction of $269,000.00. Following the transaction, the executive vice president now owns 83,044 shares in the company, valued at $22,338,836. The trade was a 1.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.80% of the stock is owned by company insiders.

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.