Charles Schwab Investment Management Inc. Sells 22,659 Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR)

Charles Schwab Investment Management Inc. lessened its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR - Free Report) by 5.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 364,546 shares of the insurance provider's stock after selling 22,659 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.70% of RenaissanceRe worth $90,703,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in RenaissanceRe during the fourth quarter worth about $29,000. MassMutual Private Wealth & Trust FSB boosted its position in RenaissanceRe by 51.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 121 shares of the insurance provider's stock worth $30,000 after purchasing an additional 41 shares during the period. Jones Financial Companies Lllp boosted its position in RenaissanceRe by 1,587.5% during the fourth quarter. Jones Financial Companies Lllp now owns 135 shares of the insurance provider's stock worth $34,000 after purchasing an additional 127 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of RenaissanceRe by 71.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 156 shares of the insurance provider's stock valued at $39,000 after acquiring an additional 65 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of RenaissanceRe by 40.0% in the fourth quarter. UMB Bank n.a. now owns 175 shares of the insurance provider's stock valued at $44,000 after acquiring an additional 50 shares during the period. Institutional investors own 99.97% of the company's stock.

RenaissanceRe Trading Up 0.3 %

Shares of RNR opened at $243.81 on Monday. The firm's 50 day simple moving average is $243.31 and its 200 day simple moving average is $258.10. The company has a market capitalization of $12.01 billion, a P/E ratio of 6.96, a P/E/G ratio of 2.09 and a beta of 0.38. 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 Holdings Ltd. has a 1-year low of $208.98 and a 1-year high of $300.00.

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RenaissanceRe (NYSE:RNR - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The insurance provider reported $8.06 EPS for the quarter, topping the consensus estimate of $6.94 by $1.12. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.41%. Sell-side analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 earnings per share for the current fiscal year.

RenaissanceRe Increases Dividend

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

Insiders Place Their Bets

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total transaction of $254,160.00. Following 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. JMP Securities restated a "market perform" rating on shares of RenaissanceRe in a research report on Thursday, January 30th. Barclays lowered shares of RenaissanceRe from an "equal weight" rating to an "underweight" rating and cut their price objective for the company from $284.00 to $234.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods cut their price objective on shares of RenaissanceRe from $318.00 to $294.00 and set an "outperform" rating for the company in a research report on Tuesday, February 4th. Jefferies Financial Group restated a "hold" rating and issued a $282.00 price objective (down from $304.00) on shares of RenaissanceRe in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company cut their price objective on shares of RenaissanceRe from $288.00 to $277.00 and set an "overweight" rating for the company in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price 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.

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