Media headlines about RenaissanceRe Holdings (NYSE:RNR) have trended somewhat positive this week, Accern Sentiment reports. The research group scores the sentiment of press coverage by reviewing more than 20 million news and blog sources. 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 news sentiment score of 0.03 on Accern’s scale. Accern also gave media headlines about the insurance provider an impact score of 46.7174442854408 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
These are some of the news stories that may have impacted Accern’s analysis:
- Zacks Investment Research Lowers RenaissanceRe Holdings Ltd. (RNR) to Sell (americanbankingnews.com)
- RenaissanceRe Holdings Ltd. (RNR) Downgraded by ValuEngine (americanbankingnews.com)
- RenaissanceRe Holdings Ltd. (RNR) Given Consensus Recommendation of “Hold” by Brokerages (americanbankingnews.com)
- RenaissanceRe Holdings Ltd. : RNR-US: Dividend Analysis : September 15th, 2017 (record date) : By the numbers : October 5, 2017 (finance.yahoo.com)
- Wells Fargo & Company Analysts Give RenaissanceRe Holdings Ltd. (RNR) a $140.00 Price Target (americanbankingnews.com)
Several equities research analysts recently commented on RNR shares. Buckingham Research started coverage on RenaissanceRe Holdings in a report on Monday, September 11th. They set a “buy” rating and a $165.00 target price on the stock. Wells Fargo & Company reiterated a “hold” rating and set a $140.00 target price on shares of RenaissanceRe Holdings in a report on Wednesday, July 26th. Zacks Investment Research downgraded RenaissanceRe Holdings from a “buy” rating to a “hold” rating in a report on Friday, July 14th. BidaskClub downgraded RenaissanceRe Holdings from a “hold” rating to a “sell” rating in a report on Tuesday, June 13th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $144.00 target price (up from $138.00) on shares of RenaissanceRe Holdings in a report on Friday, July 7th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $143.28.
Shares of RenaissanceRe Holdings (RNR) opened at 137.72 on Monday. The stock has a market capitalization of $5.55 billion, a P/E ratio of 11.75 and a beta of 0.65. RenaissanceRe Holdings has a one year low of $118.03 and a one year high of $152.00. The company’s 50 day moving average price is $136.41 and its 200 day moving average price is $140.84.
RenaissanceRe Holdings (NYSE:RNR) last released its quarterly earnings results on Tuesday, July 25th. The insurance provider reported $2.79 earnings per share (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 the consensus estimate of $540.65 million. RenaissanceRe Holdings had a return on equity of 8.49% and a net margin of 28.30%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.55 EPS. On average, equities analysts expect that RenaissanceRe Holdings will post ($4.66) earnings per share for the current year.
RenaissanceRe Holdings announced that its board has initiated a stock repurchase program on Wednesday, August 2nd that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the insurance provider to buy up to 8.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were paid a dividend of $0.32 per share. The ex-dividend date was Thursday, September 14th. This represents a $1.28 annualized dividend and a dividend yield of 0.93%. RenaissanceRe Holdings’s dividend payout ratio (DPR) is presently 10.90%.
In related news, CEO Kevin Odonnell sold 5,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $134.89, for a total transaction of $674,450.00. Following the completion of the transaction, the chief executive officer now owns 197,904 shares of the company’s stock, valued at approximately $26,695,270.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Ross Curtis sold 5,300 shares of the business’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $148.23, for a total value of $785,619.00. Following 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. In the last quarter, insiders have sold 48,644 shares of company stock valued at $7,132,297. 1.80% of the stock is currently owned by corporate insiders.
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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