RenaissanceRe Holdings Ltd. (NYSE:RNR) CEO Kevin Odonnell sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $135.58, for a total transaction of $677,900.00. Following the sale, the chief executive officer now owns 193,447 shares in the company, valued at approximately $26,227,544.26. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Kevin Odonnell also recently made the following trade(s):
- On Monday, October 2nd, Kevin Odonnell sold 5,000 shares of RenaissanceRe Holdings stock. The stock was sold at an average price of $134.89, for a total transaction of $674,450.00.
Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR) opened at $139.37 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.66 and a quick ratio of 2.00.
RenaissanceRe Holdings (NYSE:RNR) last released its quarterly earnings data on Tuesday, October 31st. The insurance provider reported ($13.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($12.25) by ($1.56). The company had revenue of $483.22 million for the quarter, compared to the consensus estimate of $300.46 million. RenaissanceRe Holdings had a negative net margin of 7.60% and a negative return on equity of 5.82%. The company’s quarterly revenue was up 70.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.09 EPS. research analysts forecast that RenaissanceRe Holdings Ltd. will post -6.7 earnings per share for the current year.
RenaissanceRe Holdings announced that its board has initiated a stock repurchase plan on Wednesday, August 2nd that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the insurance provider to buy up to 8.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.
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Several institutional investors have recently added to or reduced their stakes in RNR. Americafirst Capital Management LLC bought a new stake in shares of RenaissanceRe Holdings during the second quarter valued at approximately $161,000. Nomura Holdings Inc. bought a new stake in shares of RenaissanceRe Holdings during the second quarter valued at approximately $212,000. Citigroup Inc. raised its position in shares of RenaissanceRe Holdings by 262.5% during the second quarter. Citigroup Inc. now owns 1,566 shares of the insurance provider’s stock valued at $218,000 after buying an additional 1,134 shares during the last quarter. Parametrica Management Ltd purchased a new position in shares of RenaissanceRe Holdings in the second quarter valued at $220,000. Finally, Pacad Investment Ltd. purchased a new position in shares of RenaissanceRe Holdings in the second quarter valued at $222,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.
A number of equities research analysts have commented on RNR shares. Buckingham Research started coverage on shares of RenaissanceRe Holdings in a research note on Monday, September 11th. They set a “buy” rating and a $165.00 target price on the stock. Wells Fargo & Company set a $140.00 target price on shares of RenaissanceRe Holdings and gave the stock a “hold” rating in a research note on Wednesday, October 4th. Zacks Investment Research cut shares of RenaissanceRe Holdings from a “buy” rating to a “hold” rating in a research note on Friday, July 14th. Keefe, Bruyette & Woods restated a “hold” rating and set a $136.00 target price on shares of RenaissanceRe Holdings in a research note on Monday, October 16th. Finally, UBS AG restated a “neutral” rating and set a $145.00 target price (up previously from $139.00) on shares of RenaissanceRe Holdings in a research note on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. RenaissanceRe Holdings currently has a consensus rating of “Hold” and a consensus target price of $143.48.
RenaissanceRe Holdings 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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