RenaissanceRe (NYSE:RNR)‘s stock had its “hold” rating reiterated by analysts at Wells Fargo & Co in a research report issued on Thursday, December 28th.
RNR has been the topic of a number of other research reports. Zacks Investment Research raised shares of RenaissanceRe from a “sell” rating to a “hold” rating in a report on Friday, November 10th. Citigroup raised shares of 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 report on Thursday, November 2nd. ValuEngine cut shares of RenaissanceRe from a “buy” rating to a “hold” rating in a research report on Friday, October 6th. UBS Group raised their target price on shares of RenaissanceRe from $135.00 to $144.00 and gave the stock a “neutral” rating in a research report on Monday, November 6th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $136.00 target price on shares of RenaissanceRe in a research report on Monday, October 16th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $146.50.
Shares of RenaissanceRe (NYSE RNR) opened at $120.51 on Thursday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.25. The stock has a market cap of $4,754.26, a P/E ratio of -26.37, a price-to-earnings-growth ratio of 1.29 and a beta of 0.67. RenaissanceRe has a 52 week low of $116.50 and a 52 week high of $152.00.
RenaissanceRe (NYSE:RNR) last posted its quarterly earnings data on Tuesday, October 31st. The insurance provider reported ($13.81) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($12.25) by ($1.56). The company had revenue of $483.22 million for the quarter, compared to analysts’ expectations of $300.46 million. RenaissanceRe had a negative net margin of 7.60% and a negative return on equity of 5.82%. The business’s quarterly revenue was up 70.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.09 EPS. equities analysts anticipate that RenaissanceRe will post -8.83 earnings per share for the current fiscal year.
RenaissanceRe declared that its Board of Directors has initiated a stock repurchase program on Friday, November 10th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the insurance provider to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
In other news, CEO Kevin Odonnell sold 5,000 shares of RenaissanceRe stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $131.65, for a total value of $658,250.00. Following the completion of the sale, the chief executive officer now directly owns 190,707 shares in the company, valued at $25,106,576.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Sean G. Brosnan sold 1,391 shares of RenaissanceRe stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $135.73, for a total transaction of $188,800.43. Following the completion of the sale, the senior vice president now owns 8,405 shares of the company’s stock, valued at $1,140,810.65. The disclosure for this sale can be found here. Insiders sold 11,391 shares of company stock valued at $1,524,950 over the last ninety days. Corporate insiders own 1.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC grew its position in RenaissanceRe by 53,631.6% during the second quarter. Janus Henderson Group PLC now owns 1,290,632 shares of the insurance provider’s stock valued at $179,463,000 after buying an additional 1,288,230 shares during the period. Dimensional Fund Advisors LP grew its position in RenaissanceRe by 1.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,217,939 shares of the insurance provider’s stock valued at $169,360,000 after buying an additional 12,882 shares during the period. APG Asset Management N.V. grew its position in RenaissanceRe by 41.3% during the third quarter. APG Asset Management N.V. now owns 970,002 shares of the insurance provider’s stock valued at $131,086,000 after buying an additional 283,300 shares during the period. Northern Trust Corp grew its position in RenaissanceRe by 0.6% during the second quarter. Northern Trust Corp now owns 808,306 shares of the insurance provider’s stock valued at $112,395,000 after buying an additional 4,468 shares during the period. Finally, TimesSquare Capital Management LLC grew its position in RenaissanceRe by 6.7% during the second quarter. TimesSquare Capital Management LLC now owns 803,900 shares of the insurance provider’s stock valued at $111,782,000 after buying an additional 50,400 shares during the period. Institutional investors own 93.33% of the company’s stock.
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RenaissanceRe 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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