Insider Selling: Rider Fonner Todd Unloads 1,000 Shares of RenaissanceRe Holdings Stock (RNR)
RenaissanceRe Holdings (NYSE:RNR) SVP Rider Fonner Todd sold 1,000 shares of the company’s stock on the open market in a transaction dated Monday, June 2nd. The stock was sold at an average price of $104.25, for a total transaction of $104,250.00. Following the completion of the transaction, the senior vice president now directly owns 65,117 shares of the company’s stock, valued at approximately $6,788,447. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of RenaissanceRe Holdings (NYSE:RNR) traded down 0.07% during mid-day trading on Monday, hitting $104.10. The stock had a trading volume of 256,540 shares. RenaissanceRe Holdings has a 52-week low of $82.50 and a 52-week high of $104.53. The stock’s 50-day moving average is $101.4 and its 200-day moving average is $95.80. The company has a market cap of $4.221 billion and a P/E ratio of 7.34.
RenaissanceRe Holdings (NYSE:RNR) last announced its earnings results on Tuesday, April 29th. The company reported $3.56 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.92 by $0.64. The company had revenue of $343.60 million for the quarter, compared to the consensus estimate of $344.07 million. During the same quarter last year, the company posted $4.23 earnings per share. RenaissanceRe Holdings’s revenue was up 3.0% compared to the same quarter last year. On average, analysts predict that RenaissanceRe Holdings will post $9.62 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Wednesday, June 11th.
RNR has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of RenaissanceRe Holdings from an “outperform” rating to a “neutral” rating in a research note on Tuesday, May 27th. They now have a $108.00 price target on the stock. Separately, analysts at Deutsche Bank raised their price target on shares of RenaissanceRe Holdings from $99.00 to $102.00 in a research note on Friday, May 9th. Finally, analysts at Citigroup Inc. reiterated a “hold” rating on shares of RenaissanceRe Holdings in a research note on Thursday, May 1st. They now have a $105.00 price target on the stock. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $97.00.
RenaissanceRe Holdings Ltd. (NYSE:RNR) is a global provider of reinsurance and insurance coverages and related services.
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