Charles Schwab Investment Management Inc. Has $81.21 Million Position in RenaissanceRe Holdings Ltd. $RNR

Charles Schwab Investment Management Inc. increased its holdings in shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) by 0.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 334,326 shares of the insurance provider’s stock after buying an additional 3,070 shares during the period. Charles Schwab Investment Management Inc. owned about 0.71% of RenaissanceRe worth $81,208,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in RNR. Amundi boosted its stake in shares of RenaissanceRe by 18.0% in the 1st quarter. Amundi now owns 6,924 shares of the insurance provider’s stock valued at $1,699,000 after purchasing an additional 1,054 shares during the last quarter. Jane Street Group LLC raised its stake in RenaissanceRe by 1,180.7% during the first quarter. Jane Street Group LLC now owns 74,217 shares of the insurance provider’s stock worth $17,812,000 after buying an additional 68,422 shares during the last quarter. First Citizens Bank & Trust Co. lifted its holdings in RenaissanceRe by 276.7% in the second quarter. First Citizens Bank & Trust Co. now owns 4,882 shares of the insurance provider’s stock valued at $1,186,000 after buying an additional 3,586 shares during the period. Federated Hermes Inc. boosted its position in RenaissanceRe by 34.3% during the first quarter. Federated Hermes Inc. now owns 6,033 shares of the insurance provider’s stock valued at $1,448,000 after acquiring an additional 1,541 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in RenaissanceRe during the second quarter valued at $527,000. 99.97% of the stock is owned by institutional investors.

RenaissanceRe Stock Up 0.1%

Shares of NYSE:RNR opened at $261.17 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.36 and a current ratio of 1.40. RenaissanceRe Holdings Ltd. has a 52-week low of $219.00 and a 52-week high of $290.78. The business’s 50 day simple moving average is $256.61 and its two-hundred day simple moving average is $247.45. The firm has a market cap of $12.04 billion, a P/E ratio of 7.26, a PEG ratio of 2.08 and a beta of 0.25.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Tuesday, October 28th. The insurance provider reported $15.62 earnings per share for the quarter, topping analysts’ consensus estimates of $9.49 by $6.13. RenaissanceRe had a return on equity of 16.83% and a net margin of 14.23%.The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period in the prior year, the firm earned $10.23 earnings per share. RenaissanceRe’s revenue for the quarter was down 4.8% on a year-over-year basis. As a group, research analysts forecast that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

RenaissanceRe Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, December 15th. RenaissanceRe’s dividend payout ratio (DPR) is 4.45%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RNR. UBS Group lifted their price objective on RenaissanceRe from $265.00 to $272.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. Barclays set a $278.00 target price on RenaissanceRe in a research note on Wednesday, October 8th. Weiss Ratings reissued a “buy (b)” rating on shares of RenaissanceRe in a research note on Tuesday. Morgan Stanley increased their price target on RenaissanceRe from $280.00 to $290.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $303.00 price objective on shares of RenaissanceRe in a research report on Thursday, October 9th. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $284.50.

RenaissanceRe Company 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.