Somewhat Positive Media Coverage Somewhat Unlikely to Impact RenaissanceRe (RNR) Share Price
News articles about RenaissanceRe (NYSE:RNR) have been trending somewhat positive recently, according to Accern. The research firm identifies positive and negative press coverage by monitoring more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. RenaissanceRe earned a media sentiment score of 0.14 on Accern’s scale. Accern also assigned media headlines about the insurance provider an impact score of 45.817927736198 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Here are some of the news stories that may have impacted Accern Sentiment’s rankings:
- Sun Life’s (SLF) Tax, Q4 Net Income to Lower on Tax Reform (zacks.com)
- RenaissanceRe Holdings Ltd. (RNR) Given Consensus Rating of “Hold” by Brokerages (americanbankingnews.com)
- RenRe North America Holdings Inc. — Moody’s rates RenaissanceRe’s multi-seniority shelf registration (finance.yahoo.com)
- Reinsurance Group of America and RenaissanceRe Launch Langhorne Re (finance.yahoo.com)
Shares of RenaissanceRe (NYSE:RNR) traded up $0.99 during trading on Wednesday, hitting $122.92. 458,178 shares of the stock traded hands, compared to its average volume of 457,700. The firm has a market capitalization of $4,823.91, a P/E ratio of -26.90, a price-to-earnings-growth ratio of 1.31 and a beta of 0.67. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.66 and a current ratio of 1.66. RenaissanceRe has a twelve month low of $116.50 and a twelve month high of $152.00.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were paid a $0.32 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.28 annualized dividend and a dividend yield of 1.04%. RenaissanceRe’s payout ratio is -28.01%.
RenaissanceRe announced that its Board of Directors has initiated a stock repurchase program on Friday, November 10th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
Several equities analysts have commented on RNR shares. Wells Fargo & Co set a $140.00 price target on RenaissanceRe and gave the company a “hold” rating in a report on Wednesday, October 4th. Zacks Investment Research upgraded RenaissanceRe from a “sell” rating to a “hold” rating in a report on Friday, November 10th. Citigroup upgraded RenaissanceRe from a “neutral” rating to a “buy” rating and increased their price target for the company from $151.00 to $157.00 in a report on Thursday, November 2nd. ValuEngine downgraded RenaissanceRe from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Finally, UBS Group increased their price target on RenaissanceRe from $135.00 to $144.00 and gave the company a “neutral” rating in a report on Monday, November 6th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $146.50.
In other news, CEO Kevin Odonnell sold 5,000 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $131.65, for a total value of $658,250.00. Following the sale, the chief executive officer now owns 190,707 shares in the company, valued at $25,106,576.55. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Sean G. Brosnan sold 1,391 shares of the firm’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 sale, 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. In the last 90 days, insiders sold 11,391 shares of company stock worth $1,524,950. 1.80% of the stock is currently owned by corporate insiders.
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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.
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