RenaissanceRe Holdings Ltd. (NYSE:RNR) Plans $0.41 Quarterly Dividend

Key Points

• RenaissanceRe declared a quarterly dividend of $0.41 per share, payable September 30 to shareholders of record on September 15. The annualized dividend is $1.64 per share, representing a 0.5% yield.
• The company has increased its dividend for 30 consecutive years, with a low 4.5% payout ratio, indicating strong earnings coverage and room to sustain future payments.
• RenaissanceRe exceeded quarterly earnings expectations, reporting EPS of $12.92 versus the $11.72 consensus and revenue of $2.77 billion versus estimates of $2.57 billion.

RenaissanceRe Holdings Ltd. (NYSE:RNR - Get Free Report) announced a quarterly dividend on Wednesday, July 29th. Investors of record on Tuesday, September 15th will be given a dividend of 0.41 per share by the insurance provider on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, September 15th.

RenaissanceRe has increased its dividend by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 30 consecutive years. RenaissanceRe has a payout ratio of 4.5% meaning its dividend is sufficiently covered by earnings. Analysts expect RenaissanceRe to earn $40.83 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 4.0%.

RenaissanceRe Stock Performance

Shares of NYSE RNR opened at $332.61 on Thursday. RenaissanceRe has a one year low of $231.17 and a one year high of $335.97. The business's 50-day moving average price is $306.94 and its two-hundred day moving average price is $299.78. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market capitalization of $13.82 billion, a P/E ratio of 5.71, a price-to-earnings-growth ratio of 1.24 and a beta of 0.17.

RenaissanceRe (NYSE:RNR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The insurance provider reported $12.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.72 by $1.20. RenaissanceRe had a return on equity of 23.10% and a net margin of 23.65%.The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same period in the previous year, the company earned $12.29 EPS. Analysts anticipate that RenaissanceRe will post 41.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other RenaissanceRe news, EVP Robert Qutub sold 5,000 shares of the company's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $333.03, for a total transaction of $1,665,150.00. Following the completion of the sale, the executive vice president directly owned 72,907 shares in the company, valued at $24,280,218.21. This represents a 6.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is currently owned by corporate insiders.

Institutional Trading of RenaissanceRe

A number of hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. grew its position in RenaissanceRe by 33.6% during the fourth quarter. SBI Securities Co. Ltd. now owns 147 shares of the insurance provider's stock worth $41,000 after buying an additional 37 shares in the last quarter. Beacon Pointe Advisors LLC boosted its position in shares of RenaissanceRe by 2.2% during the 4th quarter. Beacon Pointe Advisors LLC now owns 1,857 shares of the insurance provider's stock valued at $522,000 after acquiring an additional 40 shares in the last quarter. Signaturefd LLC boosted its holdings in RenaissanceRe by 8.9% during the fourth quarter. Signaturefd LLC now owns 504 shares of the insurance provider's stock valued at $142,000 after purchasing an additional 41 shares in the last quarter. Midwest Professional Planners LTD. grew its position in RenaissanceRe by 1.5% in the first quarter. Midwest Professional Planners LTD. now owns 3,313 shares of the insurance provider's stock valued at $985,000 after acquiring an additional 48 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its holdings in RenaissanceRe by 2.6% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 2,006 shares of the insurance provider's stock valued at $509,000 after purchasing an additional 51 shares during the last quarter. 99.97% of the stock is owned by institutional investors.

RenaissanceRe Company Profile

RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance solutions, specializing in property catastrophe, casualty, and specialty lines. Established in 1993 and headquartered in Bermuda, the company trades on the New York Stock Exchange under the symbol RNR. With a focus on underwriting and risk assessment, RenaissanceRe offers tailored programs designed to help insurers and corporations manage exposure to natural disasters, liability claims, and other complex risks.

The company operates through two primary segments: Reinsurance and Insurance.

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