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

Charles Schwab Investment Management Inc. decreased its position in RenaissanceRe Holdings Ltd. (NYSE:RNR) by 7.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 387,205 shares of the insurance provider’s stock after selling 31,116 shares during the period. Charles Schwab Investment Management Inc.’s holdings in RenaissanceRe were worth $105,475,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Advisors Asset Management Inc. acquired a new stake in RenaissanceRe in the 3rd quarter valued at approximately $45,000. Avior Wealth Management LLC lifted its position in shares of RenaissanceRe by 13.1% in the third quarter. Avior Wealth Management LLC now owns 4,317 shares of the insurance provider’s stock worth $1,176,000 after purchasing an additional 500 shares in the last quarter. Natixis Advisors LLC boosted its holdings in RenaissanceRe by 8.3% during the third quarter. Natixis Advisors LLC now owns 15,391 shares of the insurance provider’s stock worth $4,193,000 after purchasing an additional 1,177 shares during the last quarter. Empowered Funds LLC bought a new position in RenaissanceRe in the third quarter valued at $243,000. Finally, CIBC Asset Management Inc increased its stake in RenaissanceRe by 3.6% in the 3rd quarter. CIBC Asset Management Inc now owns 1,530 shares of the insurance provider’s stock valued at $417,000 after buying an additional 53 shares during the last quarter. 99.97% of the stock is currently owned by institutional investors.

RenaissanceRe Trading Up 2.8 %

Shares of RNR stock opened at $279.51 on Tuesday. The stock has a market cap of $14.52 billion, a P/E ratio of 4.03, a price-to-earnings-growth ratio of 1.33 and a beta of 0.39. 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 stock has a 50 day simple moving average of $269.13 and a 200 day simple moving average of $245.35. RenaissanceRe Holdings Ltd. has a 1 year low of $188.24 and a 1 year high of $300.00.

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

RenaissanceRe Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a $0.39 dividend. The ex-dividend date of this dividend 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 (DPR) is currently 2.25%.

Insider Activity at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $279.00, for a total value of $279,000.00. Following the completion of the transaction, the executive vice president now owns 82,044 shares in the company, valued at $22,890,276. This trade represents a 1.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RNR. Barclays began coverage on RenaissanceRe in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $287.00 price objective for the company. StockNews.com downgraded shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Bank of America boosted their price target on RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods reduced their target price on RenaissanceRe from $316.00 to $310.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Finally, Evercore ISI increased their price target on RenaissanceRe from $229.00 to $246.00 and gave the company an “underperform” rating in a research note on Thursday, November 7th. One 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. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $293.00.

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.