RenaissanceRe (NYSE:RNR) Announces Earnings Results

RenaissanceRe (NYSE:RNR) released its earnings results on Tuesday. The insurance provider reported $12.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.56 by $2.15, FiscalAI reports. The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.78 billion. RenaissanceRe had a return on equity of 23.10% and a net margin of 23.65%.

RenaissanceRe Price Performance

NYSE RNR traded down $10.42 during trading hours on Tuesday, hitting $341.24. The company had a trading volume of 677,448 shares, compared to its average volume of 356,537. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a market capitalization of $14.18 billion, a price-to-earnings ratio of 5.86, a PEG ratio of 0.99 and a beta of 0.12. RenaissanceRe has a 52 week low of $231.17 and a 52 week high of $363.84. The firm has a 50 day simple moving average of $331.59 and a 200 day simple moving average of $308.78.

RenaissanceRe Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were issued a dividend of $0.41 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $1.64 dividend on an annualized basis and a yield of 0.5%. RenaissanceRe’s dividend payout ratio is 2.81%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. UBS Group set a $349.00 price target on RenaissanceRe and gave the company a “neutral” rating in a research report on Monday, July 27th. Mizuho lifted their price objective on RenaissanceRe from $325.00 to $329.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Royal Bank Of Canada started coverage on RenaissanceRe in a research note on Tuesday, September 22nd. They issued a “sector perform” rating and a $365.00 price objective on the stock. Keefe, Bruyette & Woods upped their price objective on shares of RenaissanceRe from $342.00 to $350.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Finally, Wolfe Research set a $315.00 target price on shares of RenaissanceRe in a research report on Tuesday, July 7th. Six analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $337.50.

RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance products. The company specializes in helping insurers, businesses and other organizations manage financial risk arising from natural catastrophes, specialty exposures and certain casualty risks.

RenaissanceRe’s reinsurance activities include property catastrophe coverage, as well as casualty and specialty reinsurance. Through its insurance operations, the company provides coverage for areas such as property, casualty and other specialty risks.