RenaissanceRe (NYSE:RNR) Issues Earnings Results

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

RenaissanceRe Stock Down 1.5 %

Shares of NYSE:RNR traded down $3.99 during trading hours on Tuesday, hitting $259.23. The company’s stock had a trading volume of 485,107 shares, compared to its average volume of 497,889. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.43 and a quick ratio of 1.43. The firm’s fifty day moving average price is $261.83 and its 200 day moving average price is $257.15. RenaissanceRe has a 52 week low of $208.98 and a 52 week high of $300.00. The company has a market capitalization of $13.46 billion, a price-to-earnings ratio of 3.74, a P/E/G ratio of 1.90 and a beta of 0.44.

RenaissanceRe Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders 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 0.60%. The ex-dividend date was Friday, December 13th. RenaissanceRe’s dividend payout ratio (DPR) is 2.25%.

Analyst Ratings Changes

A number of brokerages recently issued reports on RNR. Jefferies Financial Group restated a “hold” rating and issued a $282.00 price target (down from $304.00) on shares of RenaissanceRe in a research report on Wednesday, December 18th. Wells Fargo & Company dropped their price target on shares of RenaissanceRe from $301.00 to $288.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Barclays lowered shares of RenaissanceRe from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $284.00 to $234.00 in a research report on Monday, January 6th. StockNews.com lowered RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Finally, Bank of America increased their price target on RenaissanceRe from $364.00 to $391.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Two investment 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $284.00.

Insider Activity at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total transaction of $254,160.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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.