Kevin Odonnell Sells 5,000 Shares of RenaissanceRe Holdings Ltd. (RNR) Stock
RenaissanceRe Holdings Ltd. (NYSE:RNR) CEO Kevin Odonnell sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $135.58, for a total value 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 sale was disclosed in a filing with the SEC, which is available through this link.
Kevin Odonnell also recently made the following trade(s):
- On Monday, October 2nd, Kevin Odonnell sold 5,000 shares of RenaissanceRe Holdings stock. The shares were sold at an average price of $134.89, for a total value of $674,450.00.
RenaissanceRe Holdings Ltd. (RNR) opened at $139.37 on Friday. The company has a current ratio of 1.66, a quick ratio of 2.00 and a debt-to-equity ratio of 0.25.
RenaissanceRe Holdings (NYSE:RNR) last announced its quarterly earnings results 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). RenaissanceRe Holdings had a negative return on equity of 5.82% and a negative net margin of 7.60%. The firm had revenue of $483.22 million during the quarter, compared to the consensus estimate of $300.46 million. During the same quarter in the previous year, the company posted $2.09 EPS. The firm’s revenue was up 70.0% on a year-over-year basis. equities analysts anticipate that RenaissanceRe Holdings Ltd. will post -6.11 EPS for the current fiscal year.
RenaissanceRe Holdings declared that its board has authorized a share buyback plan on Wednesday, August 2nd that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to reacquire up to 8.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
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Hedge funds have recently bought and sold shares of the company. State Board of Administration of Florida Retirement System lifted its holdings in shares of RenaissanceRe Holdings by 2.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 69,320 shares of the insurance provider’s stock valued at $9,639,000 after purchasing an additional 1,788 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of RenaissanceRe Holdings by 16.0% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 12,740 shares of the insurance provider’s stock valued at $1,771,000 after purchasing an additional 1,761 shares in the last quarter. ARGA Investment Management LP lifted its holdings in shares of RenaissanceRe Holdings by 5.1% in the second quarter. ARGA Investment Management LP now owns 12,380 shares of the insurance provider’s stock valued at $1,721,000 after purchasing an additional 600 shares in the last quarter. Great Lakes Advisors LLC lifted its holdings in shares of RenaissanceRe Holdings by 22.2% in the second quarter. Great Lakes Advisors LLC now owns 17,029 shares of the insurance provider’s stock valued at $2,368,000 after purchasing an additional 3,096 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of RenaissanceRe Holdings by 3.9% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 158,425 shares of the insurance provider’s stock valued at $22,029,000 after purchasing an additional 5,975 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.
Several equities research analysts recently commented on RNR shares. Buckingham Research started coverage on RenaissanceRe Holdings in a research report on Monday, September 11th. They set a “buy” rating and a $165.00 target price on the stock. ValuEngine upgraded RenaissanceRe Holdings from a “hold” rating to a “buy” rating in a research report on Friday, July 28th. Citigroup Inc upgraded RenaissanceRe Holdings from a “neutral” rating to a “buy” rating and upped their target price for the company from $151.00 to $157.00 in a research report on Thursday. Morgan Stanley reiterated an “equal weight” rating and issued a $144.00 price target (up previously from $138.00) on shares of RenaissanceRe Holdings in a report on Friday, July 7th. Finally, Wells Fargo & Company reiterated a “hold” rating and issued a $140.00 price target on shares of RenaissanceRe Holdings in a report on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. 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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