RenaissanceRe (RNR) to Release Earnings on Tuesday

RenaissanceRe (NYSE:RNR) is scheduled to be releasing its earnings data after the market closes on Tuesday, April 30th. Analysts expect RenaissanceRe to post earnings of $10.08 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

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

RenaissanceRe Price Performance

RNR stock opened at $219.08 on Friday. RenaissanceRe has a 52 week low of $174.22 and a 52 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. The company has a fifty day simple moving average of $226.91 and a two-hundred day simple moving average of $216.24. The firm has a market capitalization of $11.55 billion, a P/E ratio of 4.28, a price-to-earnings-growth ratio of 2.91 and a beta of 0.30.

RenaissanceRe Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.56 annualized dividend and a yield of 0.71%. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.38. RenaissanceRe’s dividend payout ratio (DPR) is 3.05%.

Insider Buying and Selling at RenaissanceRe

In related news, EVP David E. Marra sold 750 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $229.00, for a total value of $171,750.00. Following the completion of the transaction, the executive vice president now directly owns 79,699 shares in the company, valued at approximately $18,251,071. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP David E. Marra sold 750 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $229.00, for a total value of $171,750.00. Following the completion of the transaction, the executive vice president now directly owns 79,699 shares in the company, valued at approximately $18,251,071. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Carol P. Sanders sold 880 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $227.59, for a total transaction of $200,279.20. Following the completion of the sale, the director now directly owns 5,363 shares of the company’s stock, valued at approximately $1,220,565.17. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,130 shares of company stock worth $958,429. Company insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on RNR shares. TD Cowen started coverage on shares of RenaissanceRe in a report on Wednesday, January 10th. They issued a “market perform” rating for the company. UBS Group raised their target price 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 lifted their price objective on shares of RenaissanceRe from $216.00 to $295.00 and gave the company an “outperform” rating in a report on Monday, February 5th. JPMorgan Chase & Co. lifted their price objective on shares of RenaissanceRe from $204.00 to $237.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Finally, Evercore ISI lifted their price objective on shares of RenaissanceRe from $213.00 to $216.00 and gave the company an “underperform” rating in a report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $247.89.

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.