RenaissanceRe Holdings Ltd. (NYSE:RNR) is scheduled to be issuing its quarterly earnings data after the market closes on Tuesday, October 31st. Analysts expect the company to announce earnings of $1.96 per share for the quarter.

RenaissanceRe Holdings (NYSE:RNR) last posted its quarterly earnings data on Tuesday, July 25th. The insurance provider reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.46. RenaissanceRe Holdings had a net margin of 28.30% and a return on equity of 8.49%. The business had revenue of $555.75 million during the quarter, compared to the consensus estimate of $540.65 million. During the same quarter last year, the company posted $1.55 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, analysts expect RenaissanceRe Holdings to post $-5.39 EPS for the current fiscal year and $9.65 EPS for the next fiscal year.

Shares of RenaissanceRe Holdings Ltd. (RNR) opened at 138.92 on Tuesday. The company’s 50-day moving average is $134.97 and its 200-day moving average is $140.26. RenaissanceRe Holdings Ltd. has a 12-month low of $120.55 and a 12-month high of $152.00. The stock has a market cap of $5.59 billion, a P/E ratio of 11.86 and a beta of 0.65.

RenaissanceRe Holdings declared that its Board of Directors has authorized a share buyback program on Wednesday, August 2nd that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the insurance provider to reacquire up to 8.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date was Thursday, September 14th. RenaissanceRe Holdings’s dividend payout ratio (DPR) is 10.90%.

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In related news, CEO Kevin Odonnell sold 38,344 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $147.93, for a total transaction of $5,672,227.92. Following the completion of the transaction, the chief executive officer now directly owns 208,150 shares in the company, valued at approximately $30,791,629.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Ross Curtis sold 5,300 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $148.23, for a total value of $785,619.00. Following the transaction, the senior vice president now owns 98,564 shares of the company’s stock, valued at $14,610,141.72. The disclosure for this sale can be found here. Insiders have sold a total of 48,644 shares of company stock valued at $7,132,297 in the last ninety days. Insiders own 1.80% of the company’s stock.

RNR has been the subject of a number of recent analyst reports. Buckingham Research initiated coverage on RenaissanceRe Holdings in a research report on Monday, September 11th. They issued a “buy” rating and a $165.00 target price for the company. ValuEngine raised RenaissanceRe Holdings from a “hold” rating to a “buy” rating in a research report on Friday, July 28th. Morgan Stanley reissued an “equal weight” rating and issued a $144.00 target price (up previously from $138.00) on shares of RenaissanceRe Holdings in a research report on Friday, July 7th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $143.00 target price on shares of RenaissanceRe Holdings in a research report on Thursday, September 21st. Finally, Wells Fargo & Company reissued a “hold” rating and issued a $140.00 target price on shares of RenaissanceRe Holdings in a research report on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $142.58.

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.

Earnings History for RenaissanceRe Holdings (NYSE:RNR)

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