RenaissanceRe Holdings Ltd. (NYSE:RNR) Shares Will Pay Quarterly Dividend of $0.41

Key Points

• RenaissanceRe declared a $0.41 quarterly dividend, payable December 31 to shareholders of record December 15. That equates to $1.64 annually and a 0.5% yield.
• The dividend appears well covered: the payout ratio is 4.5%, and analysts expect a 3.9% payout ratio next year based on forecast earnings.
• RenaissanceRe reported quarterly EPS of $12.71, beating the $10.56 consensus, while revenue of $1.69 billion fell short of the $1.78 billion estimate.

RenaissanceRe Holdings Ltd. (NYSE:RNR - Get Free Report) announced a quarterly dividend on Wednesday, November 11th. Investors of record on Tuesday, December 15th will be paid a dividend of $0.41 per share by the insurance provider on Thursday, December 31st. This represents a $1.64 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Tuesday, December 15th.

RenaissanceRe has a dividend payout ratio of 4.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect RenaissanceRe to earn $42.24 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 3.9%.

RenaissanceRe Trading Down 0.6%

RenaissanceRe stock opened at $353.59 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a market cap of $14.29 billion, a price-to-earnings ratio of 10.17, a price-to-earnings-growth ratio of 0.92 and a beta of 0.11. RenaissanceRe has a 1 year low of $251.60 and a 1 year high of $363.84. The firm's 50 day moving average price is $336.59 and its two-hundred day moving average price is $313.19.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced its quarterly earnings data on Tuesday, October 27th. The insurance provider reported $12.71 EPS for the quarter, beating analysts' consensus estimates of $10.56 by $2.15. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.78 billion. RenaissanceRe had a return on equity of 21.13% and a net margin of 16.25%. During the same quarter in the prior year, the firm earned $15.62 EPS. On average, research analysts predict that RenaissanceRe will post 49.24 EPS for the current fiscal year.

Institutional Trading of RenaissanceRe

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of RenaissanceRe in the second quarter worth $1,319,724,000. Lightrock Netherlands B.V. lifted its stake in RenaissanceRe by 15.8% in the 1st quarter. Lightrock Netherlands B.V. now owns 1,178,423 shares of the insurance provider's stock worth $350,263,000 after acquiring an additional 160,915 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in RenaissanceRe by 5.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,085,380 shares of the insurance provider's stock worth $322,603,000 after acquiring an additional 52,371 shares in the last quarter. GQG Partners LLC acquired a new stake in RenaissanceRe during the 2nd quarter worth about $185,351,000. Finally, Bank of New York Mellon Corp acquired a new stake in RenaissanceRe during the 2nd quarter worth about $116,717,000. 99.97% of the stock is owned by institutional investors and hedge funds.

About RenaissanceRe

RenaissanceRe Holdings Ltd. is a Bermuda-based provider of reinsurance and insurance, serving clients around the world. The company focuses on helping insurers and other businesses manage risks that can be difficult to predict or absorb. Its main offerings include property catastrophe reinsurance, which helps protect insurers against losses from events such as hurricanes and earthquakes, as well as casualty and specialty reinsurance and insurance. RenaissanceRe also manages capital on behalf of third-party investors and uses risk modeling to assess and manage its exposure.

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