RenaissanceRe (NYSE:RNR) Announces Quarterly Earnings Results

RenaissanceRe (NYSE:RNR) issued its earnings results on Tuesday. The insurance provider reported $8.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.94 by $1.12, Zacks reports. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%.

RenaissanceRe Trading Down 8.5 %

RenaissanceRe stock opened at $236.96 on Thursday. RenaissanceRe has a 12 month low of $208.98 and a 12 month high of $300.00. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.18. The business’s fifty day simple moving average is $261.17 and its two-hundred day simple moving average is $257.28. The company has a market capitalization of $12.31 billion, a price-to-earnings ratio of 3.41, a price-to-earnings-growth ratio of 1.90 and a beta of 0.44.

RenaissanceRe Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Friday, December 13th. RenaissanceRe’s dividend payout ratio (DPR) is presently 2.25%.

Insider Transactions at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total value of $254,160.00. Following the transaction, the executive vice president now directly owns 79,392 shares of the company’s stock, valued at approximately $20,178,270.72. This represents a 1.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company cut their price target on shares of RenaissanceRe from $301.00 to $288.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. StockNews.com cut RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group reaffirmed a “hold” rating and set a $282.00 price target (down previously from $304.00) on shares of RenaissanceRe in a research report on Wednesday, December 18th. Evercore ISI increased their price objective on RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a report on Thursday, November 7th. Finally, Barclays cut RenaissanceRe from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $284.00 to $234.00 in a research note on Monday, January 6th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $284.00.

About RenaissanceRe

RenaissanceRe Holdings Ltd., together with its subsidiaries, provides reinsurance and insurance products in the United States and internationally. The company operates through Property, and Casualty and Specialty segments. The Property segment writes property catastrophe excess of loss reinsurance and excess of loss reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, binding facilities, and regional U.S.