RenaissanceRe Holdings Ltd. (NYSE:RNR) Announces Quarterly Dividend of $0.41

RenaissanceRe Holdings Ltd. (NYSE:RNR) declared a quarterly dividend on Wednesday, February 11th. Stockholders of record on Friday, March 13th will be given a dividend of 0.41 per share by the insurance provider on Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, March 13th. This is a 2.5% increase from RenaissanceRe’s previous quarterly dividend of $0.40.

RenaissanceRe has increased its dividend by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 30 years. RenaissanceRe has a dividend payout ratio of 4.4% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

RenaissanceRe stock opened at $304.37 on Thursday. The firm has a market capitalization of $14.03 billion, a PE ratio of 5.37, a P/E/G ratio of 0.72 and a beta of 0.24. RenaissanceRe has a 52 week low of $219.00 and a 52 week high of $310.80. The firm’s 50-day simple moving average is $278.00 and its 200 day simple moving average is $260.36. The company has a quick ratio of 1.40, a current ratio of 1.43 and a debt-to-equity ratio of 0.21.

RenaissanceRe (NYSE:RNR) last announced its earnings results on Tuesday, February 3rd. The insurance provider reported $13.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.59 by $2.75. RenaissanceRe had a net margin of 20.88% and a return on equity of 18.29%. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the business posted $8.06 earnings per share. The firm’s quarterly revenue was up 29.6% compared to the same quarter last year. On average, equities research analysts predict that RenaissanceRe will post 26.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RNR has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on RenaissanceRe from $303.00 to $329.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Wells Fargo & Company raised their price target on RenaissanceRe from $281.00 to $306.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. Mizuho upped their price objective on RenaissanceRe from $277.00 to $313.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. Citigroup lowered RenaissanceRe from a “buy” rating to a “neutral” rating and increased their price objective for the company from $298.00 to $328.00 in a research note on Monday. Finally, Keefe, Bruyette & Woods lifted their price objective on RenaissanceRe from $314.00 to $323.00 and gave the stock a “market perform” rating in a research report on Monday. Four investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $309.27.

RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.