RenaissanceRe Holdings (NYSE:RNR) Given Daily Coverage Optimism Rating of 0.19
Press coverage about RenaissanceRe Holdings (NYSE:RNR) has been trending somewhat positive on Saturday, according to Accern. Accern identifies negative and positive news coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. RenaissanceRe Holdings earned a media sentiment score of 0.19 on Accern’s scale. Accern also gave media headlines about the insurance provider an impact score of 46.8155598012043 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
A number of equities research analysts have weighed in on RNR shares. ValuEngine raised RenaissanceRe Holdings from a “hold” rating to a “buy” rating in a report on Friday, July 28th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $144.00 price objective (up previously from $138.00) on shares of RenaissanceRe Holdings in a report on Friday, July 7th. Wells Fargo & Company reaffirmed a “hold” rating and issued a $140.00 price objective on shares of RenaissanceRe Holdings in a report on Wednesday, July 26th. Zacks Investment Research lowered RenaissanceRe Holdings from a “buy” rating to a “hold” rating in a report on Friday, July 14th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $143.00 price objective on shares of RenaissanceRe Holdings in a report on Wednesday, June 28th. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $143.20.
Shares of RenaissanceRe Holdings (RNR) opened at 147.98 on Friday. RenaissanceRe Holdings has a 52 week low of $116.27 and a 52 week high of $152.00. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of 12.63 and a beta of 0.65. The stock’s 50 day moving average price is $143.66 and its 200 day moving average price is $142.82.
RenaissanceRe Holdings (NYSE:RNR) last posted its quarterly earnings data on Tuesday, July 25th. The insurance provider reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.33 by $0.46. RenaissanceRe Holdings had a net margin of 28.30% and a return on equity of 8.49%. The firm had revenue of $555.75 million during the quarter, compared to analyst estimates of $540.65 million. During the same quarter last year, the business posted $1.55 EPS. The company’s revenue was up 6.9% on a year-over-year basis. Equities research analysts anticipate that RenaissanceRe Holdings will post $8.66 EPS for the current fiscal year.
RenaissanceRe Holdings declared that its board has approved a share repurchase program on Wednesday, May 17th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the insurance provider to reacquire up to 99% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Thursday, September 14th. RenaissanceRe Holdings’s dividend payout ratio is 10.90%.
In related news, CEO Kevin Odonnell sold 38,344 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $147.93, for a total value of $5,672,227.92. Following the completion of the transaction, the chief executive officer now owns 208,150 shares of the company’s stock, valued at approximately $30,791,629.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Ross Curtis sold 5,300 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $148.23, for a total transaction of $785,619.00. Following the completion of the transaction, the senior vice president now directly owns 98,564 shares of the company’s stock, valued at approximately $14,610,141.72. The disclosure for this sale can be found here. Insiders sold a total of 57,644 shares of company stock valued at $8,462,507 in the last ninety days. Company insiders own 1.80% of the company’s stock.
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RenaissanceRe Holdings Company Profile
RenaissanceRe Holdings Ltd. provides reinsurance and insurance coverages and related services to a range of customers. The Company’s products include property, casualty and specialty reinsurance and certain insurance products principally distributed through intermediaries. Its segments include Property; Casualty and Specialty, and Other category.
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