RenaissanceRe Holdings Ltd. (NYSE:RNR), concluded the day at $141.13 after seeing a fall of -2.26% that brought its market cap to $6.33 billion. The Property & Casualty Insurance company is currently upholding a net profit margin of 16.8%. Operating margin for the last 12 months remained 24.1%. The company’s EPS for trailing 12 months is $16.24 and its annual dividend yield is 0.99% with a payout ratio of 8.4%. It is estimated to be posting an EPS of $4.27 for the current quarter.
On February 4, 2020, RenaissanceRe Holdings Ltd. (NYSE:RNR) and AXA Liabilities Managers (AXA LM) came to an agreement to acquire RenaissanceRe (UK) Limited (RRUKL). The acquisition, which is expected to close later this year, is subject to regulatory approval and will be made through an investment vehicle managed by AXA LM. Formerly known as Tokio Millennium Re (UK) Limited, the UK run-off business was acquired by RenaissanceRe as part of its purchase of Tokio Millennium Re in 2018. RRUKL primarily wrote motor, casualty, political risk, engineering and marine treaty business until 2015, when it was placed into run-off. Gross reserves as at 30 September 2019 were £160M.
Talking about the agreement, Sylvain Villeroy du Galhau, CEO of AXA LM, said “I am delighted to announce that we reached an agreement with RenaissanceRe to acquire their UK run-off business. We are very pleased to continue our external development with this strategic acquisition. Once we have received the approval of the regulator, this 21st acquisition will foster our position as a leading provider of legacy solutions in the market.” Aditya Dutt, Senior Vice President of RenaissanceRe, said “We are pleased to enter into an agreement to sell the UK run-off business to AXA LM, a leading manager of legacy businesses. Divestiture of this legacy portfolio to a high-quality owner allows us to continue focusing on our core business segments.”
The Beta number showed the stock is subject to risk -49% more than the market as a whole. In the trailing twelve months, its return on assets (ROA) is 2.7% while ROE for the same period is 13.5% and have seen an average of 14.7% return on investment (ROI). The outstanding share count is 44.83 million shares but the size of available float is 43.43 million shares.
The stock’s current price is lagging SMA-200 by -22.51% which is also -12.89% down from SMA-50. Reducing that period to a shorter term, we see the price is also lagging -7.67% to the SMA-20. Volatility for the week was 3.65%, which was 4.76% in the previous month. The company closed the session with a trading volume of 493.77 thousand shares, below from its average daily trading volume of 399.66 thousand. It has been generating revenue of $4.19 billion while net income posted by the company in last 12 months was $703.5 million.
When looking at performance, we see the stock demonstrating a weekly performance of -10.27% while keeping a monthly performance of 3.86%. Quarterly performance saw a drop of -25.76% and continued the negative trend with a yearly performance of -6.82% while showing YTD performance of -28% which was -24.35% for last six months. The 52-week range for the stock was 113.27 – 202.68 that put its current price at a premium of 24.6% to the 52-week low price whereas it is trading at a discount of -30.37% to the 52-week high price.