RenaissanceRe (RNR) to Release Quarterly Earnings on Tuesday

RenaissanceRe (NYSE:RNR) will be posting its quarterly earnings results after the market closes on Tuesday, April 30th. Analysts expect RenaissanceRe to post earnings of $10.08 per share for the quarter. Investors 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 EPS for the quarter, beating analysts’ consensus estimates of $8.13 by $3.64. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.83 billion. RenaissanceRe had a net margin of 28.04% and a return on equity of 26.93%. RenaissanceRe’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the business 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 Trading Up 0.9 %

NYSE RNR opened at $226.82 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a market cap of $11.96 billion, a PE ratio of 4.43, a P/E/G ratio of 2.98 and a beta of 0.30. RenaissanceRe has a one year low of $174.22 and a one year high of $239.42. The firm’s fifty day moving average is $227.57 and its two-hundred day moving average is $215.95.

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 paid a $0.39 dividend. The ex-dividend date was Thursday, March 14th. This is a positive change from RenaissanceRe’s previous quarterly dividend of $0.38. This represents a $1.56 dividend on an annualized basis and a yield of 0.69%. RenaissanceRe’s payout ratio is currently 3.05%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on RNR shares. UBS Group lifted their price objective on shares of RenaissanceRe from $229.00 to $238.00 and gave the company a “neutral” rating in a research note on Monday, February 5th. 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 research note on Thursday, April 11th. TD Cowen started coverage on shares of RenaissanceRe in a research note on Wednesday, January 10th. They set a “market perform” rating on the stock. 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 note on Monday, April 8th. Finally, 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 note on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $247.89.

RenaissanceRe Company Profile

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.