RenaissanceRe (RNR) Earning Somewhat Positive Media Coverage, Analysis Finds

Press coverage about RenaissanceRe (NYSE:RNR) has trended somewhat positive on Wednesday, according to Accern Sentiment Analysis. The research firm scores the sentiment of news coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. RenaissanceRe earned a media sentiment score of 0.09 on Accern’s scale. Accern also assigned media coverage about the insurance provider an impact score of 46.6642194075235 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.

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

Several equities analysts recently weighed in on the stock. BidaskClub lowered shares of RenaissanceRe from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Buckingham Research assumed coverage on shares of RenaissanceRe in a report on Monday, September 11th. They set a “buy” rating and a $165.00 target price on the stock. UBS reduced their target price on shares of RenaissanceRe from $145.00 to $136.00 and set a “neutral” rating on the stock in a report on Tuesday, September 19th. Keefe, Bruyette & Woods restated a “hold” rating and set a $143.00 target price on shares of RenaissanceRe in a report on Thursday, September 21st. Finally, Citigroup reduced their target price on shares of RenaissanceRe from $148.00 to $146.00 and set a “neutral” rating on the stock in a report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, seven have given 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 price target of $148.38.

RenaissanceRe (NYSE RNR) traded down $1.19 during trading hours on Wednesday, hitting $128.15. 399,477 shares of the company traded hands, compared to its average volume of 289,152. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.25. RenaissanceRe has a 1-year low of $120.55 and a 1-year high of $152.00.

RenaissanceRe (NYSE:RNR) last posted its earnings results 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 business had revenue of $483.22 million for the quarter, compared to analyst estimates 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 revenue was up 70.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.09 EPS. sell-side analysts forecast that RenaissanceRe will post -7.02 EPS for the current year.

RenaissanceRe declared that its Board of Directors has approved a share repurchase program on Friday, November 10th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the insurance provider to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a $0.32 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.28 dividend on an annualized basis and a yield of 1.00%. RenaissanceRe’s dividend payout ratio is currently -28.01%.

In other RenaissanceRe news, CEO Kevin Odonnell sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $135.58, for a total value of $677,900.00. Following the transaction, the chief executive officer now owns 193,447 shares in the company, valued at approximately $26,227,544.26. The sale was disclosed in a document filed 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 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 transaction, the senior vice president now owns 8,405 shares in the company, valued at approximately $1,140,810.65. The disclosure for this sale can be found here. Insiders sold a total of 16,391 shares of company stock worth $2,199,400 in the last quarter. 1.80% of the stock is currently owned by company 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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