RenaissanceRe Holdings Ltd. (NYSE:RNR) is scheduled to announce its earnings results after the market closes on Tuesday, July 25th. Analysts expect the company to announce earnings of $2.36 per share for the quarter.
RenaissanceRe Holdings Ltd. (NYSE RNR) opened at 145.01 on Friday. The firm has a market cap of $5.89 billion, a PE ratio of 13.51 and a beta of 0.64. The stock’s 50 day moving average price is $141.18 and its 200-day moving average price is $141.74. RenaissanceRe Holdings Ltd. has a 12-month low of $115.13 and a 12-month high of $150.74.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 15th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend was Tuesday, June 13th. RenaissanceRe Holdings’s dividend payout ratio is 11.94%.
RenaissanceRe Holdings announced that its board has initiated a stock buyback plan on Wednesday, May 17th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the insurance provider to buy up to 99% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
In other RenaissanceRe Holdings news, CEO Kevin Odonnell sold 7,000 shares of RenaissanceRe Holdings stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $141.64, for a total transaction of $991,480.00. Following the completion of the sale, the chief executive officer now owns 222,854 shares of the company’s stock, valued at $31,565,040.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Stephen Howard Weinstein sold 14,000 shares of RenaissanceRe Holdings stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $143.19, for a total value of $2,004,660.00. Following the sale, the senior vice president now directly owns 75,162 shares of the company’s stock, valued at approximately $10,762,446.78. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.
Several research firms recently issued reports on RNR. Zacks Investment Research lowered RenaissanceRe Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, March 28th. ValuEngine raised RenaissanceRe Holdings from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Citigroup Inc. lifted their price objective on RenaissanceRe Holdings from $150.00 to $157.00 and gave the company a “neutral” rating in a research note on Friday, April 7th. BidaskClub lowered RenaissanceRe Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, June 13th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $144.00 price objective (up previously from $138.00) on shares of RenaissanceRe Holdings in a research note on Friday, July 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. RenaissanceRe Holdings currently has an average rating of “Hold” and an average target price of $143.13.
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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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