RenaissanceRe Holdings Ltd. (RNR) To Go Ex-Dividend on December 15th

RenaissanceRe Holdings Ltd. (NYSE:RNR) declared a quarterly dividend on Wednesday, November 5th. Investors of record on Monday, December 15th will be given a dividend of 0.40 per share by the insurance provider on Wednesday, December 31st. This represents a c) dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, December 15th.

RenaissanceRe has raised its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 30 consecutive years. RenaissanceRe has a payout ratio of 4.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect RenaissanceRe to earn $38.87 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 4.1%.

RenaissanceRe Trading Up 0.6%

Shares of RNR stock traded up $1.72 during trading hours on Friday, reaching $272.11. 250,637 shares of the stock were exchanged, compared to its average volume of 359,011. The firm has a market capitalization of $12.55 billion, a price-to-earnings ratio of 7.56, a price-to-earnings-growth ratio of 1.63 and a beta of 0.26. RenaissanceRe has a 12-month low of $219.00 and a 12-month high of $274.80. The company’s 50-day moving average price is $259.61 and its 200-day moving average price is $249.04. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.21.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Tuesday, October 28th. The insurance provider reported $15.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.49 by $6.13. RenaissanceRe had a net margin of 14.23% and a return on equity of 16.83%. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter last year, the firm earned $10.23 earnings per share. The firm’s quarterly revenue was down 4.8% compared to the same quarter last year. As a group, equities analysts anticipate that RenaissanceRe will post 26.04 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Morgan Stanley boosted their price objective on RenaissanceRe from $280.00 to $290.00 and gave the company an “overweight” rating in a report on Monday, November 17th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $303.00 target price on shares of RenaissanceRe in a research note on Thursday, October 9th. Zacks Research upgraded shares of RenaissanceRe from a “hold” rating to a “strong-buy” rating in a report on Monday, December 8th. Wolfe Research assumed coverage on shares of RenaissanceRe in a report on Monday, September 15th. They set a “peer perform” rating for the company. Finally, Wells Fargo & Company boosted their price objective on shares of RenaissanceRe from $278.00 to $285.00 and gave the company an “equal weight” rating in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, RenaissanceRe presently has an average rating of “Hold” and a consensus price target of $285.92.

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.