RenaissanceRe Holdings Ltd. (RNR) Downgraded by ValuEngine to Hold

ValuEngine lowered shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) from a buy rating to a hold rating in a report issued on Friday.

Other equities research analysts also recently issued reports about the company. Buckingham Research initiated coverage on RenaissanceRe Holdings in a report on Monday, September 11th. They issued a buy rating and a $165.00 price objective for the company. Morgan Stanley reissued an equal weight rating and issued a $144.00 price objective (up from $138.00) on shares of RenaissanceRe Holdings in a report on Friday, July 7th. Wells Fargo & Company reissued 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 downgraded RenaissanceRe Holdings from a buy rating to a hold rating in a report on Friday, July 14th. Finally, Keefe, Bruyette & Woods reissued a hold rating and issued a $143.00 price objective on shares of RenaissanceRe Holdings in a report on Wednesday, June 28th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $143.28.

RenaissanceRe Holdings (NYSE:RNR) opened at 136.79 on Friday. RenaissanceRe Holdings has a 52-week low of $120.51 and a 52-week high of $152.00. The firm’s 50-day moving average is $136.16 and its 200-day moving average is $140.68. The stock has a market capitalization of $5.51 billion, a price-to-earnings ratio of 11.68 and a beta of 0.65.

RenaissanceRe Holdings (NYSE:RNR) last posted its quarterly earnings data on Tuesday, July 25th. The insurance provider reported $2.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.33 by $0.46. The business 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 company’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.55 earnings per share. Analysts predict that RenaissanceRe Holdings will post ($4.66) earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “RenaissanceRe Holdings Ltd. (RNR) Downgraded by ValuEngine to Hold” was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this story on another site, it was copied illegally and republished in violation of US & international trademark & copyright law. The correct version of this story can be read at https://ledgergazette.com/2017/10/10/renaissancere-holdings-ltd-rnr-downgraded-by-valuengine-to-hold.html.

RenaissanceRe Holdings announced that its Board of Directors has authorized a stock buyback program on Wednesday, August 2nd that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the insurance provider to repurchase up to 8.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend was Thursday, September 14th. RenaissanceRe Holdings’s dividend payout ratio is presently 10.90%.

In related news, SVP Ross Curtis sold 5,300 shares of the stock in a transaction 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 sale, the senior vice president now directly owns 98,564 shares of the company’s stock, valued at $14,610,141.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kevin Odonnell sold 38,344 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $147.93, for a total value of $5,672,227.92. Following the sale, the chief executive officer now directly owns 208,150 shares of the company’s stock, valued at $30,791,629.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,644 shares of company stock valued at $7,132,297. Corporate insiders own 1.80% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System lifted its holdings in shares of RenaissanceRe Holdings by 2.6% during the second quarter. State Board of Administration of Florida Retirement System now owns 69,320 shares of the insurance provider’s stock worth $9,639,000 after purchasing an additional 1,788 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of RenaissanceRe Holdings by 16.0% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 12,740 shares of the insurance provider’s stock worth $1,771,000 after purchasing an additional 1,761 shares during the period. ARGA Investment Management LP lifted its holdings in shares of RenaissanceRe Holdings by 5.1% during the second quarter. ARGA Investment Management LP now owns 12,380 shares of the insurance provider’s stock worth $1,721,000 after purchasing an additional 600 shares during the period. Great Lakes Advisors LLC lifted its holdings in shares of RenaissanceRe Holdings by 22.2% during the second quarter. Great Lakes Advisors LLC now owns 17,029 shares of the insurance provider’s stock worth $2,368,000 after purchasing an additional 3,096 shares during the period. Finally, Allen Investment Management LLC acquired a new sta

Other equities research analysts also recently issued reports about the company. Buckingham Research initiated coverage on RenaissanceRe Holdings in a report on Monday, September 11th. They issued a buy rating and a $165.00 price objective for the company. Morgan Stanley reissued an equal weight rating and issued a $144.00 price objective (up from $138.00) on shares of RenaissanceRe Holdings in a report on Friday, July 7th. Wells Fargo & Company reissued 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 downgraded RenaissanceRe Holdings from a buy rating to a hold rating in a report on Friday, July 14th. Finally, Keefe, Bruyette & Woods reissued a hold rating and issued a $143.00 price objective on shares of RenaissanceRe Holdings in a report on Wednesday, June 28th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $143.28.

RenaissanceRe Holdings (NYSE:RNR) opened at 136.79 on Friday. RenaissanceRe Holdings has a 52-week low of $120.51 and a 52-week high of $152.00. The firm’s 50-day moving average is $136.16 and its 200-day moving average is $140.68. The stock has a market capitalization of $5.51 billion, a price-to-earnings ratio of 11.68 and a beta of 0.65.

RenaissanceRe Holdings (NYSE:RNR) last posted its quarterly earnings data on Tuesday, July 25th. The insurance provider reported $2.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.33 by $0.46. The business 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 company’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.55 earnings per share. Analysts predict that RenaissanceRe Holdings will post ($4.66) earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “RenaissanceRe Holdings Ltd. (RNR) Downgraded by ValuEngine to Hold” was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this story on another site, it was copied illegally and republished in violation of US & international trademark & copyright law. The correct version of this story can be read at https://ledgergazette.com/2017/10/10/renaissancere-holdings-ltd-rnr-downgraded-by-valuengine-to-hold.html.

RenaissanceRe Holdings announced that its Board of Directors has authorized a stock buyback program on Wednesday, August 2nd that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the insurance provider to repurchase up to 8.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend was Thursday, September 14th. RenaissanceRe Holdings’s dividend payout ratio is presently 10.90%.

In related news, SVP Ross Curtis sold 5,300 shares of the stock in a transaction 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 sale, the senior vice president now directly owns 98,564 shares of the company’s stock, valued at $14,610,141.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kevin Odonnell sold 38,344 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $147.93, for a total value of $5,672,227.92. Following the sale, the chief executive officer now directly owns 208,150 shares of the company’s stock, valued at $30,791,629.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,644 shares of company stock valued at $7,132,297. Corporate insiders own 1.80% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System lifted its holdings in shares of RenaissanceRe Holdings by 2.6% during the second quarter. State Board of Administration of Florida Retirement System now owns 69,320 shares of the insurance provider’s stock worth $9,639,000 after purchasing an additional 1,788 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of RenaissanceRe Holdings by 16.0% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 12,740 shares of the insurance provider’s stock worth $1,771,000 after purchasing an additional 1,761 shares during the period. ARGA Investment Management LP lifted its holdings in shares of RenaissanceRe Holdings by 5.1% during the second quarter. ARGA Investment Management LP now owns 12,380 shares of the insurance provider’s stock worth $1,721,000 after purchasing an additional 600 shares during the period. Great Lakes Advisors LLC lifted its holdings in shares of RenaissanceRe Holdings by 22.2% during the second quarter. Great Lakes Advisors LLC now owns 17,029 shares of the insurance provider’s stock worth $2,368,000 after purchasing an additional 3,096 shares during the period. Finally, Allen Investment Management LLC acquired a new stake in shares of RenaissanceRe Holdings during the second quarter worth $771,000. 91.70% of the stock is owned by hedge funds and other institutional investors.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for RenaissanceRe Holdings (NYSE:RNR)

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