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

RenaissanceRe Holdings Ltd. (NYSE:RNR) announced a quarterly dividend on Wednesday, July 29th. Investors of record on Tuesday, September 15th will be paid a dividend of 0.41 per share by the insurance provider on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Tuesday, September 15th.

RenaissanceRe has raised its dividend payment 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 4.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect RenaissanceRe to earn $40.83 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 4.0%.

RenaissanceRe Trading Down 0.5%

NYSE:RNR opened at $332.61 on Thursday. RenaissanceRe has a 12-month low of $231.17 and a 12-month high of $335.97. The firm has a market capitalization of $13.82 billion, a P/E ratio of 5.71, a P/E/G ratio of 1.24 and a beta of 0.17. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38. The business has a 50 day simple moving average of $306.94 and a 200 day simple moving average of $299.78.

RenaissanceRe (NYSE:RNR) last issued its earnings results on Wednesday, July 22nd. The insurance provider reported $12.92 earnings per share for the quarter, topping the consensus estimate of $11.72 by $1.20. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.57 billion. RenaissanceRe had a return on equity of 23.10% and a net margin of 23.65%.During the same period last year, the company earned $12.29 earnings per share. Equities research analysts predict that RenaissanceRe will post 41.68 EPS for the current year.

Insider Transactions at RenaissanceRe

In related news, EVP Robert Qutub sold 5,000 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $333.03, for a total value of $1,665,150.00. Following the completion of the transaction, the executive vice president owned 72,907 shares in the company, valued at $24,280,218.21. This represents a 6.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.30% of the stock is owned by corporate insiders.

Institutional Trading of RenaissanceRe

A number of institutional investors have recently made changes to their positions in the stock. Kingdom Financial Group LLC. acquired a new position in shares of RenaissanceRe during the fourth quarter valued at approximately $36,000. Quarry LP boosted its stake in RenaissanceRe by 65.0% during the 3rd quarter. Quarry LP now owns 132 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 52 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in RenaissanceRe by 235.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 134 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 94 shares in the last quarter. Mcguire Capital Advisors Inc. acquired a new position in shares of RenaissanceRe during the 4th quarter valued at $38,000. Finally, SBI Securities Co. Ltd. increased its position in shares of RenaissanceRe by 33.6% during the 4th quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 37 shares during the period. 99.97% of the stock is owned by institutional investors and hedge funds.

About RenaissanceRe

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.