RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Set to Pay Quarterly Dividend of $0.41

RenaissanceRe Holdings Ltd. (NYSE:RNR) declared a quarterly dividend on Wednesday, November 11th. Investors of record on Tuesday, December 15th will be paid a dividend of $0.41 per share by the insurance provider on Thursday, December 31st. This represents a $1.64 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Tuesday, December 15th.

RenaissanceRe has a payout ratio of 4.5% meaning its dividend is sufficiently covered by earnings. Analysts expect RenaissanceRe to earn $42.24 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 3.9%.

RenaissanceRe Stock Performance

Shares of RNR opened at $353.59 on Thursday. The company has a market capitalization of $14.29 billion, a PE ratio of 10.17, a PEG ratio of 0.92 and a beta of 0.11. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.40 and a current ratio of 1.40. The company’s 50 day moving average price is $336.59 and its 200 day moving average price is $313.19. RenaissanceRe has a 52 week low of $251.60 and a 52 week high of $363.84.

RenaissanceRe (NYSE:RNR) last released its earnings results on Tuesday, October 27th. The insurance provider reported $12.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.56 by $2.15. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.78 billion. RenaissanceRe had a net margin of 16.25% and a return on equity of 21.13%. During the same quarter in the prior year, the firm earned $15.62 EPS. Research analysts expect that RenaissanceRe will post 49.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Weiss Ratings downgraded shares of RenaissanceRe from a “buy (b+)” rating to a “hold (c+)” rating in a research note on Thursday, October 29th. Wells Fargo & Company lifted their price objective on RenaissanceRe from $319.00 to $338.00 and gave the company an “equal weight” rating in a research report on Monday, November 2nd. TD Cowen boosted their target price on RenaissanceRe from $315.00 to $320.00 and gave the company a “hold” rating in a research note on Monday, October 12th. Keefe, Bruyette & Woods boosted their target price on RenaissanceRe from $342.00 to $350.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Finally, Bank of America upped their target price on RenaissanceRe from $410.00 to $438.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $343.69.

About RenaissanceRe

RenaissanceRe Holdings Ltd. is a Bermuda-based provider of reinsurance and insurance, serving clients around the world. The company focuses on helping insurers and other businesses manage risks that can be difficult to predict or absorb. Its main offerings include property catastrophe reinsurance, which helps protect insurers against losses from events such as hurricanes and earthquakes, as well as casualty and specialty reinsurance and insurance. RenaissanceRe also manages capital on behalf of third-party investors and uses risk modeling to assess and manage its exposure.