RenaissanceRe Holdings Ltd. (NYSE:RNR) declared a quarterly dividend on Wednesday, November 13th, Zacks reports. Investors of record on Friday, December 13th will be paid a dividend of 0.34 per share by the insurance provider on Tuesday, December 31st. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Thursday, December 12th.
Shares of NYSE RNR traded down $0.35 during mid-day trading on Tuesday, reaching $192.24. The company had a trading volume of 3,287 shares, compared to its average volume of 206,141. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.26. The stock has a market cap of $8.33 billion, a PE ratio of 20.94, a P/E/G ratio of 2.23 and a beta of 0.31. The company has a 50-day moving average price of $186.38 and a two-hundred day moving average price of $184.71. RenaissanceRe has a 1-year low of $123.79 and a 1-year high of $195.18.
RenaissanceRe (NYSE:RNR) last issued its earnings results on Tuesday, October 29th. The insurance provider reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.01 by ($0.72). The company had revenue of $704.13 million during the quarter, compared to analyst estimates of $574.66 million. RenaissanceRe had a return on equity of 8.23% and a net margin of 17.32%. The business’s revenue was up 55.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.45 earnings per share. On average, research analysts expect that RenaissanceRe will post 8.9 EPS for the current year.
In other news, SVP Jonathan Paradine sold 10,000 shares of RenaissanceRe stock in a transaction on Monday, November 4th. The stock was sold at an average price of $187.00, for a total transaction of $1,870,000.00. Following the transaction, the senior vice president now owns 50,108 shares in the company, valued at $9,370,196. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.60% of the company’s stock.
RNR has been the topic of a number of recent research reports. Barclays lifted their target price on RenaissanceRe from $165.00 to $175.00 and gave the stock an “underweight” rating in a report on Wednesday, October 2nd. ValuEngine downgraded RenaissanceRe from a “buy” rating to a “hold” rating in a report on Friday, August 30th. Finally, Zacks Investment Research upgraded RenaissanceRe from a “hold” rating to a “buy” rating and set a $201.00 price target on the stock in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $179.75.
RenaissanceRe Holdings Ltd. 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 retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including earthquakes, hurricanes, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising 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, and binding facilities and regional U.S.
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