RenaissanceRe Holdings Ltd. (RNR) Shares Gap Up to $115.60
RenaissanceRe Holdings Ltd. (NYSE:RNR) shares gapped up before the market opened on Wednesday . The stock had previously closed at $115.56, but opened at $115.60. RenaissanceRe Holdings shares last traded at $116.06, with a volume of 47,782 shares traded.
Several research analysts recently commented on RNR shares. Zacks Investment Research cut shares of RenaissanceRe Holdings from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 14th. Keefe, Bruyette & Woods cut shares of RenaissanceRe Holdings from an “outperform” rating to a “market perform” rating in a report on Monday, July 11th. Finally, Citigroup Inc. increased their target price on shares of RenaissanceRe Holdings from $130.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, April 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. RenaissanceRe Holdings presently has a consensus rating of “Hold” and an average target price of $117.50.
The company’s 50 day moving average price is $114.90 and its 200 day moving average price is $114.31. The stock has a market capitalization of $4.99 billion and a PE ratio of 14.05.
RenaissanceRe Holdings (NYSE:RNR) last announced its quarterly earnings results on Tuesday, April 26th. The company reported $1.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.66 by $1.15. During the same quarter in the previous year, the company posted $3.10 EPS. The firm earned $448.10 million during the quarter, compared to analysts’ expectations of $401.66 million. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. On average, equities analysts expect that RenaissanceRe Holdings Ltd. will post $7.63 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Wednesday, June 15th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend was Monday, June 13th.
In related news, SVP Stephen Howard Weinstein sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $117.50, for a total value of $352,500.00. Following the transaction, the senior vice president now directly owns 82,596 shares in the company, valued at $9,705,030. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Rider Fonner Todd sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $115.21, for a total transaction of $172,815.00. Following the completion of the transaction, the senior vice president now owns 71,253 shares in the company, valued at $8,209,058.13. The disclosure for this sale can be found here.
Several hedge funds and institutional investors recently bought and sold shares of RNR. ProShare Advisors LLC boosted its position in RenaissanceRe Holdings by 8.8% in the fourth quarter. ProShare Advisors LLC now owns 14,549 shares of the company’s stock valued at $1,647,000 after buying an additional 1,181 shares during the period. Neuberger Berman Group LLC boosted its position in RenaissanceRe Holdings by 3.2% in the fourth quarter. Neuberger Berman Group LLC now owns 42,959 shares of the company’s stock valued at $4,863,000 after buying an additional 1,320 shares during the period. US Bancorp DE boosted its position in RenaissanceRe Holdings by 26.4% in the fourth quarter. US Bancorp DE now owns 9,181 shares of the company’s stock valued at $1,039,000 after buying an additional 1,919 shares during the period. Andra AP fonden boosted its position in RenaissanceRe Holdings by 4.9% in the fourth quarter. Andra AP fonden now owns 95,100 shares of the company’s stock valued at $10,764,000 after buying an additional 4,400 shares during the period. Finally, Liberty Mutual Group Asset Management Inc. boosted its position in RenaissanceRe Holdings by 42.0% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 27,811 shares of the company’s stock valued at $3,149,000 after buying an additional 8,230 shares during the period.
RenaissanceRe Holdings Ltd. provides reinsurance and insurance coverages and related services. The Company’s core products include property catastrophe reinsurance and specialty reinsurance risks. The Company’s segments include Catastrophe Reinsurance, Specialty Reinsurance and Lloyd’s. Catastrophe Reinsurance includes catastrophe reinsurance and certain property catastrophe joint ventures managed by the Company’s ventures unit.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.