RenaissanceRe Holdings Ltd. (NYSE:RNR) Plans $0.40 Quarterly Dividend

Key Points

• RenaissanceRe Holdings Ltd. declared a quarterly dividend of $0.40 per share, with an ex-dividend date of September 15th, reflecting an annual yield of 0.7%.
• The company's recent quarterly earnings surpassed expectations, reporting $12.29 EPS, compared to a consensus estimate of $10.28, though revenue was down 2.4% year-over-year.
• RenaissanceRe's dividend payout ratio is low at 4.4%, indicating that future dividends are well-supported by anticipated earnings, projected at $38.87 per share for the next year.

RenaissanceRe Holdings Ltd. (NYSE:RNR - Get Free Report) declared a quarterly dividend on Thursday, July 31st, Wall Street Journal reports. Investors of record on Monday, September 15th will be paid a dividend of 0.40 per share by the insurance provider on Tuesday, September 30th. This represents a c) annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, September 15th.

RenaissanceRe has a dividend payout ratio of 4.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect RenaissanceRe to earn $38.87 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 4.1%.

RenaissanceRe Stock Performance

NYSE:RNR traded down $0.62 during midday trading on Thursday, hitting $243.85. The company's stock had a trading volume of 600,620 shares, compared to its average volume of 499,808. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.36 and a quick ratio of 1.36. RenaissanceRe has a fifty-two week low of $219.00 and a fifty-two week high of $300.00. The firm's 50 day moving average is $242.25 and its 200-day moving average is $241.34. The firm has a market cap of $11.48 billion, a P/E ratio of 6.23, a P/E/G ratio of 2.57 and a beta of 0.30.

RenaissanceRe (NYSE:RNR - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $12.29 EPS for the quarter, topping the consensus estimate of $10.28 by $2.01. RenaissanceRe had a return on equity of 15.00% and a net margin of 15.44%. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same quarter in the prior year, the firm posted $12.41 EPS. The business's quarterly revenue was down 2.4% compared to the same quarter last year. Equities analysts anticipate that RenaissanceRe will post 26.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other RenaissanceRe news, CAO James Christopher Fraser sold 332 shares of the firm's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $249.54, for a total value of $82,847.28. Following the completion of the sale, the chief accounting officer directly owned 27,154 shares of the company's stock, valued at $6,776,009.16. This trade represents a 1.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.30% of the company's stock.

Institutional Trading of RenaissanceRe

A number of hedge funds and other institutional investors have recently modified their holdings of RNR. Aster Capital Management DIFC Ltd acquired a new stake in shares of RenaissanceRe during the 4th quarter worth about $27,000. IFP Advisors Inc increased its position in shares of RenaissanceRe by 160.0% during the 2nd quarter. IFP Advisors Inc now owns 117 shares of the insurance provider's stock worth $28,000 after purchasing an additional 72 shares during the last quarter. Brooklyn Investment Group boosted its holdings in RenaissanceRe by 151.7% during the 1st quarter. Brooklyn Investment Group now owns 146 shares of the insurance provider's stock valued at $35,000 after acquiring an additional 88 shares during the period. Tsfg LLC purchased a new position in RenaissanceRe during the 1st quarter valued at about $40,000. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in RenaissanceRe by 43.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 186 shares of the insurance provider's stock valued at $45,000 after acquiring an additional 56 shares during the period. 99.97% of the stock is owned by institutional investors and hedge funds.

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.

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