RenaissanceRe (RNR) to Release Quarterly Earnings on Tuesday

RenaissanceRe (NYSE:RNR) is set to announce its earnings results after the market closes on Tuesday, April 30th. Analysts expect the company to announce earnings of $10.08 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Tuesday, January 30th. The insurance provider reported $11.77 earnings per share for the quarter, topping the consensus estimate of $8.13 by $3.64. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.83 billion. RenaissanceRe had a net margin of 28.04% and a return on equity of 26.93%. The company’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $7.33 earnings per share. On average, analysts expect RenaissanceRe to post $34 EPS for the current fiscal year and $34 EPS for the next fiscal year.

RenaissanceRe Stock Performance

RNR stock opened at $226.82 on Tuesday. The company has a market capitalization of $11.96 billion, a P/E ratio of 4.43, a PEG ratio of 2.98 and a beta of 0.30. The company has a 50-day simple moving average of $227.57 and a 200 day simple moving average of $215.95. RenaissanceRe has a fifty-two week low of $174.22 and a fifty-two week high of $239.42. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.23.

RenaissanceRe Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.39 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.56 annualized dividend and a yield of 0.69%. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.38. RenaissanceRe’s dividend payout ratio is presently 3.05%.

Analysts Set New Price Targets

Several research firms recently weighed in on RNR. UBS Group upped their price objective on shares of RenaissanceRe from $229.00 to $238.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. BMO Capital Markets boosted their price target on shares of RenaissanceRe from $216.00 to $295.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. JPMorgan Chase & Co. boosted their price target on shares of RenaissanceRe from $204.00 to $237.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Evercore ISI boosted their price target on shares of RenaissanceRe from $213.00 to $216.00 and gave the stock an “underperform” rating in a research report on Thursday, April 11th. Finally, TD Cowen began coverage on shares of RenaissanceRe in a research report on Wednesday, January 10th. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $247.89.

Insider Activity

In other news, Director Carol P. Sanders sold 880 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $227.59, for a total value of $200,279.20. Following the transaction, the director now owns 5,363 shares in the company, valued at approximately $1,220,565.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Carol P. Sanders sold 880 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $227.59, for a total value of $200,279.20. Following the completion of the sale, the director now owns 5,363 shares of the company’s stock, valued at approximately $1,220,565.17. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Robert Qutub sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $234.56, for a total value of $586,400.00. Following the completion of the sale, the chief financial officer now directly owns 70,424 shares of the company’s stock, valued at approximately $16,518,653.44. The disclosure for this sale can be found here. Insiders have sold 4,130 shares of company stock worth $958,429 in the last 90 days. Company insiders own 1.80% of the company’s stock.

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.