News headlines about RenaissanceRe Holdings (NYSE:RNR) have trended somewhat positive recently, according to Accern Sentiment Analysis. The research group identifies negative and positive news coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. RenaissanceRe Holdings earned a news impact score of 0.17 on Accern’s scale. Accern also assigned media coverage about the insurance provider an impact score of 46.129116956226 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
These are some of the headlines that may have impacted Accern’s scoring:
- Global Brass and Copper Holdings, Inc. Announces Date and Time for Release of Third Quarter 2017 Financial Results (environmentguru.com)
- What Analysts Are Saying about Chubb Limited (marketrealist.com)
- RenaissanceRe Holdings Ltd. (RNR) Downgraded by Zacks Investment Research to “Sell” (americanbankingnews.com)
- RenaissanceRe Holdings Ltd. breached its 50 day moving average in a Bullish Manner : RNR-US : October 16, 2017 (finance.yahoo.com)
- RenaissanceRe Holdings Ltd. (RNR) Given “Hold” Rating at Keefe, Bruyette & Woods (americanbankingnews.com)
RenaissanceRe Holdings (NYSE:RNR) opened at 139.49 on Friday. The stock has a 50 day moving average of $134.94 and a 200-day moving average of $140.33. The company has a market capitalization of $5.62 billion, a PE ratio of 11.91 and a beta of 0.65. RenaissanceRe Holdings has a 12-month low of $120.55 and a 12-month high of $152.00.
RenaissanceRe Holdings (NYSE:RNR) last issued its quarterly earnings data on Tuesday, July 25th. The insurance provider reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.46. The firm had revenue of $555.75 million for 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%. RenaissanceRe Holdings’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.55 EPS. Equities analysts expect that RenaissanceRe Holdings will post ($5.29) earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were issued a $0.32 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.28 annualized dividend and a yield of 0.92%. RenaissanceRe Holdings’s dividend payout ratio (DPR) is currently 10.90%.
RenaissanceRe Holdings announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 2nd that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to purchase up to 8.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of RenaissanceRe Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $136.00 target price on shares of RenaissanceRe Holdings in a research note on Monday, October 16th. ValuEngine downgraded shares of RenaissanceRe Holdings from a “buy” rating to a “hold” rating in a research note on Friday, October 6th. Wells Fargo & Co set a $140.00 target price on shares of RenaissanceRe Holdings and gave the company a “hold” rating in a research note on Wednesday, October 4th. Finally, Citigroup Inc. reduced their target price on shares of RenaissanceRe Holdings from $148.00 to $146.00 and set a “neutral” rating on the stock in a research note on Monday, October 2nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $142.58.
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In related news, SVP Ross Curtis sold 5,300 shares of the business’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $148.23, for a total value of $785,619.00. Following the sale, the senior vice president now directly owns 98,564 shares in the company, valued at approximately $14,610,141.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Kevin Odonnell sold 5,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $134.89, for a total transaction of $674,450.00. Following the completion of the sale, the chief executive officer now owns 197,904 shares in the company, valued at $26,695,270.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,644 shares of company stock worth $7,132,297. 1.80% of the stock is owned by insiders.
About RenaissanceRe Holdings
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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