RenaissanceRe Holdings Ltd. (RNR) To Go Ex-Dividend on March 13th

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) annualized dividend and a yield of 0.6%. 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%per year over the last three years and has raised its dividend annually for the last 30 consecutive years. RenaissanceRe has a payout ratio of 4.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect RenaissanceRe to earn $38.87 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 4.2%.

RenaissanceRe Stock Performance

RNR opened at $297.46 on Wednesday. RenaissanceRe has a 1-year low of $219.00 and a 1-year high of $315.88. The stock has a market cap of $12.94 billion, a P/E ratio of 5.25, a P/E/G ratio of 0.68 and a beta of 0.21. The stock’s 50 day simple moving average is $288.29 and its 200 day simple moving average is $268.35. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.43 and a quick ratio of 1.43.

RenaissanceRe (NYSE:RNR) last released its quarterly earnings results on Tuesday, February 3rd. The insurance provider reported $13.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.59 by $2.75. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $1.73 billion. RenaissanceRe had a return on equity of 18.29% and a net margin of 20.88%.The business’s revenue was up 29.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $8.06 EPS. As a group, equities analysts anticipate that RenaissanceRe will post 26.04 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of RenaissanceRe in a research report on Monday, December 29th. Cantor Fitzgerald lifted their price objective on RenaissanceRe from $252.00 to $282.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Zacks Research cut RenaissanceRe from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Mizuho boosted their price target on RenaissanceRe from $277.00 to $313.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. Finally, Evercore increased their price objective on RenaissanceRe from $283.00 to $291.00 and gave the company an “in-line” rating in a research note on Wednesday, February 4th. Three research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, RenaissanceRe presently has a consensus rating of “Hold” and a consensus target price of $310.27.

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.