RenaissanceRe Holdings Ltd. (NYSE:RNR) Announces Dividend Increase – $0.41 Per Share

RenaissanceRe Holdings Ltd. (NYSE:RNR) declared a quarterly dividend on Wednesday, February 11th. Shareholders of record on Friday, March 13th will be paid a dividend of 0.41 per share by the insurance provider on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a 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% indicating that its dividend is sufficiently covered by earnings. Equities 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

RNR opened at $304.37 on Thursday. RenaissanceRe has a 52-week low of $219.00 and a 52-week high of $310.80. The company has a 50 day moving average of $278.00 and a two-hundred day moving average of $260.36. The company has a market cap of $14.03 billion, a P/E ratio of 5.37, a P/E/G ratio of 0.72 and a beta of 0.24. 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 issued its earnings results on Tuesday, February 3rd. The insurance provider reported $13.34 EPS for the quarter, beating 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 business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the firm posted $8.06 EPS. The business’s revenue for the quarter was up 29.6% compared to the same quarter last year. On average, analysts expect that RenaissanceRe will post 26.04 earnings per share for the current year.

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.