RenaissanceRe (NYSE:RNR) Earning Somewhat Favorable News Coverage, Analysis Finds

Press coverage about RenaissanceRe (NYSE:RNR) has trended somewhat positive on Sunday, according to Accern. Accern rates the sentiment of media coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. RenaissanceRe earned a media sentiment score of 0.13 on Accern’s scale. Accern also gave news articles about the insurance provider an impact score of 46.0109728100694 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.

Shares of RenaissanceRe (NYSE:RNR) traded down $0.72 on Friday, reaching $129.90. The company’s stock had a trading volume of 385,545 shares, compared to its average volume of 466,947. RenaissanceRe has a 52-week low of $116.50 and a 52-week 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 1.77.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Wednesday, January 31st. The insurance provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.29. The company had revenue of $288.22 million for the quarter, compared to the consensus estimate of $227.65 million. RenaissanceRe had a negative return on equity of 7.68% and a negative net margin of 10.57%. The firm’s revenue was up 31.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.66 EPS. equities research analysts forecast that RenaissanceRe will post 9.88 EPS for the current year.

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

Several analysts recently weighed in on the company. Wells Fargo & Co reissued a “hold” rating and set a $125.00 price target on shares of RenaissanceRe in a report on Wednesday. Zacks Investment Research lowered RenaissanceRe from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. UBS Group lifted their price target on RenaissanceRe from $135.00 to $144.00 and gave the company a “neutral” rating in a research note on Monday, November 6th. Morgan Stanley decreased their price target on RenaissanceRe from $144.00 to $142.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 2nd. Finally, Citigroup upgraded RenaissanceRe from a “neutral” rating to a “buy” rating and lifted their price target for the company from $151.00 to $157.00 in a research note on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $146.50.

In related news, CEO Kevin Odonnell sold 5,000 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was 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 of the company’s stock, valued at approximately $25,106,576.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Sean G. Brosnan sold 1,391 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now directly 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 own 1.80% 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.

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

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