Somewhat Favorable Media Coverage Somewhat Unlikely to Affect RenaissanceRe (RNR) Share Price

Press coverage about RenaissanceRe (NYSE:RNR) has trended somewhat positive this week, according to Accern. The research firm ranks the sentiment of media 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 closest to one being the most favorable. RenaissanceRe earned a daily sentiment score of 0.07 on Accern’s scale. Accern also assigned news headlines about the insurance provider an impact score of 46.0039883093269 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.

These are some of the news headlines that may have impacted Accern Sentiment Analysis’s scoring:

Shares of RenaissanceRe (RNR) opened at $126.72 on Monday. RenaissanceRe has a one year low of $120.55 and a one year high of $152.00. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.66 and a current ratio of 1.66.

RenaissanceRe (NYSE:RNR) last issued its quarterly earnings results on Tuesday, October 31st. The insurance provider reported ($13.81) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($12.25) by ($1.56). RenaissanceRe had a negative return on equity of 5.82% and a negative net margin of 7.60%. The business had revenue of $483.22 million for the quarter, compared to the consensus estimate of $300.46 million. During the same period in the prior year, the business posted $2.09 earnings per share. RenaissanceRe’s revenue was up 70.0% on a year-over-year basis. analysts predict that RenaissanceRe will post -8.23 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Thursday, December 14th. RenaissanceRe’s dividend payout ratio is currently -28.76%.

RenaissanceRe announced that its Board of Directors has initiated a share buyback program on Friday, November 10th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the insurance provider to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Several equities research analysts have recently issued reports on RNR shares. BidaskClub lowered RenaissanceRe from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Wells Fargo & Company set a $140.00 price objective on RenaissanceRe and gave the company a “hold” rating in a research note on Wednesday, October 4th. Zacks Investment Research raised RenaissanceRe from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. ValuEngine lowered RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Friday, October 6th. Finally, Citigroup raised RenaissanceRe from a “neutral” rating to a “buy” rating and raised their price target for the stock from $151.00 to $157.00 in a research note on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $148.38.

In other RenaissanceRe news, CEO Kevin Odonnell sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $135.58, for a total transaction of $677,900.00. Following the transaction, the chief executive officer now directly owns 193,447 shares in the company, valued at approximately $26,227,544.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Sean G. Brosnan sold 1,391 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $135.73, for a total value of $188,800.43. Following the transaction, the senior vice president now owns 8,405 shares in the company, valued at $1,140,810.65. The disclosure for this sale can be found here. Insiders have sold a total of 16,391 shares of company stock valued at $2,199,400 over the last three months. 1.80% of the stock is owned by corporate insiders.

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About RenaissanceRe

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.

Insider Buying and Selling by Quarter for RenaissanceRe (NYSE:RNR)

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