Charles Schwab Investment Management Inc. Lowers Position in RenaissanceRe Holdings Ltd. $RNR

Charles Schwab Investment Management Inc. lowered its stake in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 9.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 331,256 shares of the insurance provider's stock after selling 33,290 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.68% of RenaissanceRe worth $79,501,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Bank of America Corp DE grew its stake in shares of RenaissanceRe by 17.9% during the 4th quarter. Bank of America Corp DE now owns 817,247 shares of the insurance provider's stock worth $203,339,000 after acquiring an additional 124,125 shares during the period. Miracle Mile Advisors LLC bought a new position in shares of RenaissanceRe during the 1st quarter worth $271,000. Yorktown Management & Research Co Inc bought a new position in shares of RenaissanceRe during the 1st quarter worth $348,000. Deutsche Bank AG grew its stake in shares of RenaissanceRe by 4.2% during the 4th quarter. Deutsche Bank AG now owns 10,715 shares of the insurance provider's stock worth $2,666,000 after acquiring an additional 431 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in shares of RenaissanceRe by 128.4% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,142 shares of the insurance provider's stock worth $274,000 after acquiring an additional 642 shares during the period. Institutional investors own 99.97% of the company's stock.

RenaissanceRe Price Performance

Shares of NYSE:RNR traded up $0.06 on Monday, hitting $238.97. The company's stock had a trading volume of 43,202 shares, compared to its average volume of 482,868. The company has a 50-day simple moving average of $241.35 and a 200 day simple moving average of $240.10. RenaissanceRe Holdings Ltd. has a 1 year low of $219.00 and a 1 year high of $300.00. The company has a market capitalization of $11.25 billion, a PE ratio of 6.10, a PEG ratio of 2.34 and a beta of 0.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.36 and a quick ratio of 1.36.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $12.29 EPS for the quarter, beating the consensus estimate of $10.28 by $2.01. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.96 billion. RenaissanceRe had a return on equity of 15.00% and a net margin of 15.44%. The company's revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the company earned $12.41 EPS. Sell-side analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, September 15th. RenaissanceRe's dividend payout ratio (DPR) is presently 4.09%.

Wall Street Analysts Forecast Growth

RNR has been the topic of a number of recent research reports. UBS Group increased their price objective on RenaissanceRe from $250.00 to $265.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Morgan Stanley dropped their price objective on RenaissanceRe from $285.00 to $280.00 and set an "overweight" rating on the stock in a report on Monday, July 14th. Cantor Fitzgerald raised RenaissanceRe to a "hold" rating in a report on Wednesday, August 13th. Wells Fargo & Company reissued an "equal weight" rating and set a $269.00 price objective (up previously from $267.00) on shares of RenaissanceRe in a report on Thursday, July 10th. Finally, Citigroup initiated coverage on RenaissanceRe in a report on Wednesday, August 13th. They set a "buy" rating and a $288.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, RenaissanceRe presently has a consensus rating of "Hold" and an average target price of $282.09.

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.