RenaissanceRe Holdings Ltd. (RNR) to Issue Quarterly Dividend of $0.41 on December 31st

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

RenaissanceRe has a dividend payout ratio of 4.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

RNR stock opened at $354.50 on Friday. The company has a fifty day moving average price of $337.05 and a 200-day moving average price of $313.59. The company has a market capitalization of $14.33 billion, a P/E ratio of 10.19, a PEG ratio of 0.91 and a beta of 0.11. RenaissanceRe has a 52-week low of $251.60 and a 52-week high of $363.84. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.40 and a current ratio of 1.40.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings data on Tuesday, October 27th. The insurance provider reported $12.71 earnings per share for the quarter, topping the consensus estimate of $10.56 by $2.15. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations 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 previous year, the firm posted $15.62 earnings per share. As a group, equities analysts expect that RenaissanceRe will post 49.24 EPS for the current year.

Institutional Investors Weigh In On RenaissanceRe

Several large investors have recently modified their holdings of RNR. BlackRock Inc. acquired a new position in RenaissanceRe in the second quarter valued at $1,319,724,000. Lightrock Netherlands B.V. grew its holdings in RenaissanceRe by 15.8% during the 1st quarter. Lightrock Netherlands B.V. now owns 1,178,423 shares of the insurance provider’s stock worth $350,263,000 after acquiring an additional 160,915 shares during the period. Dimensional Fund Advisors LP grew its holdings in RenaissanceRe by 5.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,085,380 shares of the insurance provider’s stock worth $322,603,000 after acquiring an additional 52,371 shares during the period. GQG Partners LLC acquired a new stake in RenaissanceRe during the 2nd quarter worth about $185,351,000. Finally, Bank of New York Mellon Corp bought a new position in shares of RenaissanceRe in the 2nd quarter worth about $116,717,000. 99.97% of the stock is currently owned by institutional investors and hedge funds.

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.