RenaissanceRe (NYSE:RNR) Announces Quarterly Earnings Results

RenaissanceRe (NYSE:RNR - Get Free Report) issued its earnings results on Tuesday. The insurance provider reported $8.06 EPS for the quarter, topping the consensus estimate of $6.94 by $1.12, Zacks reports. RenaissanceRe had a net margin of 15.99% and a return on equity of 23.51%.

RenaissanceRe Trading Down 1.9 %

Shares of RNR stock traded down $4.61 on Friday, reaching $233.78. 566,584 shares of the company's stock were exchanged, compared to its average volume of 577,507. The company's fifty day simple moving average is $260.64 and its 200 day simple moving average is $257.15. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $12.14 billion, a PE ratio of 6.67, a P/E/G ratio of 1.75 and a beta of 0.44. RenaissanceRe has a 52 week low of $208.98 and a 52 week high of $300.00.

RenaissanceRe Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Friday, December 13th. RenaissanceRe's payout ratio is currently 4.45%.

Insider Activity at RenaissanceRe

In related news, EVP David E. Marra sold 1,000 shares of RenaissanceRe stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $254.16, for a total transaction of $254,160.00. Following the transaction, 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 sale was disclosed in a filing with the SEC, which is available through this link. 1.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

RNR has been the topic of a number of research analyst reports. Evercore ISI upped their target price on RenaissanceRe from $229.00 to $246.00 and gave the stock an "underperform" rating in a report on Thursday, November 7th. StockNews.com cut RenaissanceRe from a "buy" rating to a "hold" rating in a research report on Tuesday, October 22nd. Bank of America upped their target price on shares of RenaissanceRe from $364.00 to $391.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Barclays cut RenaissanceRe from an "equal weight" rating to an "underweight" rating and lowered their price target for the company from $284.00 to $234.00 in a report on Monday, January 6th. Finally, Jefferies Financial Group restated a "hold" rating and issued a $282.00 price objective (down from $304.00) on shares of RenaissanceRe in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $283.45.

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.