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

RenaissanceRe Holdings Ltd. (NYSE:RNR) announced a quarterly dividend on Friday, November 9th, Zacks reports. Investors of record on Friday, December 14th will be paid a dividend of 0.33 per share by the insurance provider on Monday, December 31st. This represents a $1.32 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Thursday, December 13th.

RenaissanceRe has raised its dividend by an average of 3.3% annually over the last three years and has increased its dividend annually for the last 13 consecutive years. RenaissanceRe has a dividend payout ratio of 9.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect RenaissanceRe to earn $11.16 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 11.8%.

NYSE:RNR traded up $5.35 during mid-day trading on Friday, reaching $139.20. The stock had a trading volume of 634,666 shares, compared to its average volume of 281,400. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.23. The company has a market cap of $5.39 billion, a P/E ratio of -16.67, a PEG ratio of 1.47 and a beta of 0.67. RenaissanceRe has a twelve month low of $116.50 and a twelve month high of $142.56.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Tuesday, October 30th. The insurance provider reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.42. RenaissanceRe had a net margin of 15.07% and a return on equity of 10.52%. The firm had revenue of $453.30 million during the quarter, compared to the consensus estimate of $416.49 million. During the same quarter last year, the firm earned ($13.81) earnings per share. The firm’s revenue was down 6.2% compared to the same quarter last year. Analysts expect that RenaissanceRe will post 9.12 EPS for the current year.

In other RenaissanceRe news, Director Henry Klehm III sold 810 shares of RenaissanceRe stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $128.00, for a total value of $103,680.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.50% of the stock is owned by company insiders.

RNR has been the subject of a number of recent research reports. Zacks Investment Research raised shares of RenaissanceRe from a “hold” rating to a “strong-buy” rating and set a $160.00 price objective for the company in a research note on Thursday, October 4th. Buckingham Research raised their price objective on shares of RenaissanceRe from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, October 3rd. Wells Fargo & Co reissued a “hold” rating and set a $130.00 price objective on shares of RenaissanceRe in a research note on Wednesday, October 17th. Bank of America raised shares of RenaissanceRe from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $125.00 to $144.00 in a research note on Monday, December 3rd. Finally, Citigroup dropped their price objective on shares of RenaissanceRe from $161.00 to $153.00 and set a “buy” rating for the company in a research note on Monday, October 22nd. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $143.00.

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About RenaissanceRe

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

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Dividend History for RenaissanceRe (NYSE:RNR)

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