RenaissanceRe Holdings (RNR) Receives Media Sentiment Score of 0.16
News articles about RenaissanceRe Holdings (NYSE:RNR) have trended somewhat positive on Monday, Accern reports. The research firm identifies positive and negative media coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. RenaissanceRe Holdings earned a media sentiment score of 0.16 on Accern’s scale. Accern also gave news headlines about the insurance provider an impact score of 45.8512008115249 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Several brokerages have recently issued reports on RNR. BidaskClub lowered shares of RenaissanceRe Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, June 13th. Keefe, Bruyette & Woods restated a “hold” rating and set a $143.00 price target on shares of RenaissanceRe Holdings in a research note on Wednesday, June 28th. ValuEngine upgraded shares of RenaissanceRe Holdings from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Wells Fargo & Company restated a “hold” rating and set a $140.00 price target on shares of RenaissanceRe Holdings in a research note on Wednesday, July 26th. Finally, Zacks Investment Research lowered shares of RenaissanceRe Holdings from a “hold” rating to a “strong sell” rating in a research note on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. RenaissanceRe Holdings has an average rating of “Hold” and an average price target of $143.20.
RenaissanceRe Holdings (NYSE RNR) opened at 144.61 on Monday. The company has a 50-day moving average of $145.24 and a 200 day moving average of $143.35. RenaissanceRe Holdings has a 12-month low of $116.51 and a 12-month high of $152.00. The company has a market capitalization of $5.82 billion, a P/E ratio of 12.34 and a beta of 0.65.
RenaissanceRe Holdings (NYSE:RNR) last issued its quarterly earnings results on Tuesday, July 25th. The insurance provider reported $2.79 EPS for the quarter, topping the consensus estimate of $2.33 by $0.46. The company had revenue of $555.75 million during the quarter, compared to analyst estimates of $540.65 million. RenaissanceRe Holdings had a net margin of 28.30% and a return on equity of 8.49%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.55 EPS. Equities research analysts forecast that RenaissanceRe Holdings will post $8.66 earnings per share for the current fiscal year.
RenaissanceRe Holdings announced that its Board of Directors has approved a stock repurchase program on Wednesday, May 17th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the insurance provider to buy up to 99% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.89%. The ex-dividend date is Thursday, September 14th. RenaissanceRe Holdings’s payout ratio is presently 10.90%.
In other RenaissanceRe Holdings news, SVP Stephen Howard Weinstein sold 14,000 shares of RenaissanceRe Holdings stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $143.19, for a total transaction of $2,004,660.00. Following the sale, the senior vice president now owns 75,162 shares of the company’s stock, valued at approximately $10,762,446.78. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kevin Odonnell sold 38,344 shares of RenaissanceRe Holdings stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $147.93, for a total transaction of $5,672,227.92. Following the sale, the chief executive officer now directly owns 208,150 shares in the company, valued at approximately $30,791,629.50. The disclosure for this sale can be found here. In the last three months, insiders sold 57,644 shares of company stock valued at $8,462,507. 1.80% of the stock is owned by insiders.
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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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