Insider Selling: Rider Fonner Todd Sells 1,000 Shares of RenaissanceRe Holdings Stock (RNR)
RenaissanceRe Holdings (NYSE:RNR) SVP Rider Fonner Todd sold 1,000 shares of RenaissanceRe Holdings stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $102.30, for a total transaction of $102,300.00. Following the completion of the sale, the senior vice president now directly owns 62,117 shares in the company, valued at approximately $6,354,569. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
RenaissanceRe Holdings (NYSE:RNR) traded down 1.32% on Wednesday, hitting $101.53. 407,868 shares of the company’s stock traded hands. RenaissanceRe Holdings has a one year low of $85.66 and a one year high of $108.99. The stock has a 50-day moving average of $102.0 and a 200-day moving average of $101.3. The company has a market cap of $4.114 billion and a P/E ratio of 6.16.
RenaissanceRe Holdings (NYSE:RNR) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $2.28 earnings per share for the quarter, missing the analysts’ consensus estimate of $2.81 by $0.53. The company had revenue of $331.20 million for the quarter, compared to the consensus estimate of $329.60 million. During the same quarter last year, the company posted $2.17 earnings per share. RenaissanceRe Holdings’s revenue was up 32.4% compared to the same quarter last year. On average, analysts predict that RenaissanceRe Holdings will post $9.09 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Thursday, September 11th.
RNR has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of RenaissanceRe Holdings from a “neutral” rating to an “underperform” rating in a research note on Friday, August 29th. They now have a $93.00 price target on the stock. Separately, analysts at Deutsche Bank downgraded shares of RenaissanceRe Holdings from a “hold” rating to a “sell” rating in a research note on Monday, August 18th. They now have a $96.00 price target on the stock, down previously from $100.00. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of RenaissanceRe Holdings in a research note on Monday, August 4th. They now have a $100.00 price target on the stock, down previously from $102.00. Six analysts have rated the stock with a sell rating and five have issued a hold rating to the company. The stock presently has an average rating of “Sell” and a consensus target price of $99.44.
RenaissanceRe Holdings Ltd. (NYSE:RNR) is a global provider of reinsurance and insurance coverages and related services.
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