RenaissanceRe Holdings Ltd. (NYSE:RNR) CEO Kevin Odonnell sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $119.33, for a total value of $357,990.00. Following the completion of the sale, the chief executive officer now directly owns 267,944 shares of the company’s stock, valued at approximately $31,973,757.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Kevin Odonnell also recently made the following trade(s):
- On Tuesday, September 6th, Kevin Odonnell sold 3,000 shares of RenaissanceRe Holdings stock. The shares were sold at an average price of $120.28, for a total value of $360,840.00.
- On Tuesday, August 2nd, Kevin Odonnell sold 3,000 shares of RenaissanceRe Holdings stock. The shares were sold at an average price of $116.97, for a total value of $350,910.00.
RenaissanceRe Holdings Ltd. (NYSE:RNR) opened at 120.94 on Monday. The firm’s 50 day moving average price is $119.42 and its 200-day moving average price is $116.54. The stock has a market cap of $4.98 billion, a P/E ratio of 12.27 and a beta of 0.49. RenaissanceRe Holdings Ltd. has a 12-month low of $107.27 and a 12-month high of $122.97.
RenaissanceRe Holdings (NYSE:RNR) last released its quarterly earnings results on Tuesday, July 26th. The company reported $1.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.92 by $0.37. The company earned $483.30 million during the quarter, compared to analysts’ expectations of $410.83 million. RenaissanceRe Holdings had a return on equity of 9.41% and a net margin of 27.26%. The company’s revenue was up 21.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.18 EPS. Equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post $7.44 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were given a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $1.24 annualized dividend and a yield of 1.03%. RenaissanceRe Holdings’s dividend payout ratio is currently 12.50%.
A number of research firms have commented on RNR. Citigroup Inc. reaffirmed a “neutral” rating on shares of RenaissanceRe Holdings in a research report on Tuesday, June 21st. Zacks Investment Research lowered RenaissanceRe Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. Finally, Keefe, Bruyette & Woods lowered RenaissanceRe Holdings from an “outperform” rating to a “market perform” rating in a research report on Monday, July 11th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $119.14.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. raised its position in RenaissanceRe Holdings by 265.7% in the first quarter. Meeder Asset Management Inc. now owns 13,659 shares of the company’s stock valued at $1,636,000 after buying an additional 9,924 shares in the last quarter. Rafferty Asset Management LLC raised its position in RenaissanceRe Holdings by 285.9% in the first quarter. Rafferty Asset Management LLC now owns 33,505 shares of the company’s stock valued at $4,015,000 after buying an additional 24,822 shares in the last quarter. State Street Corp raised its position in RenaissanceRe Holdings by 23.5% in the first quarter. State Street Corp now owns 2,477,658 shares of the company’s stock valued at $296,905,000 after buying an additional 471,491 shares in the last quarter. Bessemer Group Inc. raised its position in RenaissanceRe Holdings by 124.8% in the first quarter. Bessemer Group Inc. now owns 184,600 shares of the company’s stock valued at $22,121,000 after buying an additional 102,491 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. bought a new position in RenaissanceRe Holdings during the first quarter valued at approximately $2,187,000. Institutional investors own 94.78% of the company’s stock.
RenaissanceRe Holdings Company Profile
RenaissanceRe Holdings Ltd. provides reinsurance and insurance coverages and related services. The Company’s core products include property catastrophe reinsurance and specialty reinsurance risks. The Company’s segments include Catastrophe Reinsurance, Specialty Reinsurance and Lloyd’s. Catastrophe Reinsurance includes catastrophe reinsurance and certain property catastrophe joint ventures managed by the Company’s ventures unit.
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