RenaissanceRe (RNR) to Release Quarterly Earnings on Tuesday

RenaissanceRe (NYSE:RNR) is expected to issue its quarterly earnings data after the market closes on Tuesday, January 28th. Analysts expect the company to announce earnings of $6.94 per share and revenue of $2,682,500.00 billion for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

RenaissanceRe (NYSE:RNR) last announced its earnings results on Wednesday, November 6th. The insurance provider reported $10.23 EPS for the quarter, beating analysts’ consensus estimates of $7.89 by $2.34. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.35 billion. RenaissanceRe had a net margin of 28.84% and a return on equity of 26.31%. The business’s revenue was up 52.1% compared to the same quarter last year. During the same period in the prior year, the company earned $8.33 earnings per share. On average, analysts expect RenaissanceRe to post $43 EPS for the current fiscal year and $34 EPS for the next fiscal year.

RenaissanceRe Stock Performance

Shares of RNR stock opened at $256.14 on Monday. RenaissanceRe has a 52-week low of $205.62 and a 52-week high of $300.00. The stock’s 50-day moving average price is $261.80 and its 200 day moving average price is $256.83. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $13.30 billion, a PE ratio of 3.69, a price-to-earnings-growth ratio of 1.90 and a beta of 0.44.

RenaissanceRe Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a $0.39 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.61%. RenaissanceRe’s dividend payout ratio (DPR) is 2.25%.

Wall Street Analyst Weigh In

RNR has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their price objective on shares of RenaissanceRe from $310.00 to $318.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. JPMorgan Chase & Co. boosted their price target on RenaissanceRe from $280.00 to $284.00 and gave the stock a “neutral” rating in a research note on Friday, January 3rd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $282.00 price objective (down from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. Bank of America boosted their target price on RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Evercore ISI lifted their price target on RenaissanceRe from $229.00 to $246.00 and gave the stock an “underperform” rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, RenaissanceRe currently has a consensus rating of “Hold” and a consensus price target of $284.00.

Insider Activity at RenaissanceRe

In other news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total transaction of $254,160.00. Following the sale, the executive vice president now owns 79,392 shares in the company, valued at $20,178,270.72. This trade represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is currently owned by corporate insiders.

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.