RenaissanceRe (RNR) Projected to Post Earnings on Tuesday

RenaissanceRe (NYSE:RNR) is expected to be posting its quarterly earnings results after the market closes on Tuesday, January 28th. Analysts expect RenaissanceRe to post earnings of $6.94 per share and revenue of $2,682,500.00 billion for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

RenaissanceRe (NYSE:RNR) last released its earnings results on Wednesday, November 6th. The insurance provider reported $10.23 EPS for the quarter, topping the consensus estimate of $7.89 by $2.34. RenaissanceRe had a return on equity of 26.31% and a net margin of 28.84%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter last year, the firm posted $8.33 earnings per share. The firm’s revenue was up 52.1% on a year-over-year basis. On average, analysts expect RenaissanceRe to post $43 EPS for the current fiscal year and $34 EPS for the next fiscal year.

RenaissanceRe Price Performance

RenaissanceRe stock opened at $256.14 on Friday. The stock’s 50 day moving average price is $261.80 and its two-hundred day moving average price is $256.57. The stock has a market capitalization of $13.30 billion, a price-to-earnings ratio of 3.69, a PEG ratio of 1.90 and a beta of 0.44. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.43 and a current ratio of 1.43. RenaissanceRe has a 52-week low of $205.62 and a 52-week high of $300.00.

RenaissanceRe Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a $0.39 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.61%. RenaissanceRe’s dividend payout ratio is presently 2.25%.

Insider Activity at RenaissanceRe

In other RenaissanceRe news, EVP David E. Marra sold 1,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $254.16, for a total value of $254,160.00. Following the completion of the sale, the executive vice president now directly owns 79,392 shares of the company’s stock, valued at $20,178,270.72. This trade represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on RNR shares. Evercore ISI raised their price objective on RenaissanceRe from $229.00 to $246.00 and gave the company an “underperform” rating in a research note on Thursday, November 7th. Wells Fargo & Company decreased their target price on shares of RenaissanceRe from $301.00 to $288.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Barclays downgraded RenaissanceRe from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $284.00 to $234.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. raised their target price on RenaissanceRe from $280.00 to $284.00 and gave the company a “neutral” rating in a report on Friday, January 3rd. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $282.00 price target (down from $304.00) on shares of RenaissanceRe in a research report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, RenaissanceRe has an average rating of “Hold” and an average target price of $284.00.

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.