RenaissanceRe (NYSE:RNR) Reaches New 12-Month High Following Dividend Announcement

RenaissanceRe Holdings Ltd. (NYSE:RNR) shares reached a new 52-week high during trading on Thursday after the company announced a dividend. The company traded as high as $311.19 and last traded at $311.1850, with a volume of 48568 shares trading hands. The stock had previously closed at $304.81.

The newly announced dividend which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be given a dividend of $0.41 per share. This is an increase from RenaissanceRe’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Friday, March 13th. RenaissanceRe’s dividend payout ratio (DPR) is currently 2.82%.

Wall Street Analysts Forecast Growth

RNR has been the topic of a number of recent analyst reports. Evercore increased their price target on shares of RenaissanceRe from $283.00 to $291.00 and gave the stock an “in-line” rating in a report on Wednesday, February 4th. JPMorgan Chase & Co. increased their target price on shares of RenaissanceRe from $303.00 to $329.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 7th. TD Cowen restated a “hold” rating on shares of RenaissanceRe in a research report on Thursday, January 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of RenaissanceRe in a report on Monday, December 29th. Finally, Keefe, Bruyette & Woods lifted their price objective on RenaissanceRe from $314.00 to $323.00 and gave the company a “market perform” rating in a research note on Monday. Four research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $309.27.

RenaissanceRe Price Performance

The firm has a fifty day moving average of $278.83 and a two-hundred day moving average of $260.71. The company has a current ratio of 1.43, a quick ratio of 1.40 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $14.32 billion, a PE ratio of 5.48, a PEG ratio of 0.75 and a beta of 0.24.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Tuesday, February 3rd. The insurance provider reported $13.34 earnings per share for the quarter, beating the consensus estimate of $10.59 by $2.75. RenaissanceRe had a return on equity of 18.29% and a net margin of 20.88%.The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the company posted $8.06 earnings per share. The business’s revenue was up 29.6% on a year-over-year basis. Research analysts anticipate that RenaissanceRe Holdings Ltd. will post 26.04 EPS for the current fiscal year.

Trending Headlines about RenaissanceRe

Here are the key news stories impacting RenaissanceRe this week:

• Positive Sentiment: Board raised the quarterly dividend to $0.41 (31st consecutive annual increase) and renewed/expanded share repurchase authorization, signaling strong capital generation and management confidence. Read More.
• Positive Sentiment: Company expanded buyback program to $750M and emphasized robust underwriting and investment income — a direct catalyst supporting the rally and likely to boost EPS/ROE if repurchases are executed. Read More.
• Positive Sentiment: Some sell-side analysts remain constructive: Keefe, Bruyette & Woods highlighted upside potential, providing additional support for the stock. Read More.
• Neutral Sentiment: Company released Q4 materials and hosted an earnings call; analysts asked targeted questions about reserving, cat exposure and capital deployment — useful for modeling but not new headline news. Read More.
• Negative Sentiment: Citigroup downgraded RNR to Neutral (and Citi commentary appeared in multiple outlets), citing that the outlook is now reasonably discounted — this introduces near-term selling pressure and tempers upside expectations. Read More.

Insider Activity

In other news, EVP Robert Qutub sold 5,000 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $305.75, for a total transaction of $1,528,750.00. Following the completion of the transaction, the executive vice president directly owned 73,023 shares of the company’s stock, valued at approximately $22,326,782.25. This represents a 6.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Capital World Investors lifted its holdings in RenaissanceRe by 0.3% in the 3rd quarter. Capital World Investors now owns 2,649,518 shares of the insurance provider’s stock worth $672,792,000 after buying an additional 7,839 shares during the period. Impax Asset Management Group plc raised its holdings in shares of RenaissanceRe by 11.2% during the second quarter. Impax Asset Management Group plc now owns 1,220,038 shares of the insurance provider’s stock valued at $295,494,000 after acquiring an additional 122,732 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in RenaissanceRe by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,033,009 shares of the insurance provider’s stock worth $290,450,000 after acquiring an additional 31,599 shares during the period. Lightrock Netherlands B.V. boosted its holdings in RenaissanceRe by 4,690.1% in the fourth quarter. Lightrock Netherlands B.V. now owns 1,017,508 shares of the insurance provider’s stock valued at $286,083,000 after acquiring an additional 996,266 shares in the last quarter. Finally, Bank of America Corp DE increased its position in RenaissanceRe by 17.6% during the 2nd quarter. Bank of America Corp DE now owns 803,547 shares of the insurance provider’s stock valued at $195,182,000 after purchasing an additional 120,063 shares during the period. Hedge funds and other institutional investors own 99.97% of the company’s stock.

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.