RenaissanceRe Holdings Ltd. (NYSE:RNR) CEO Kevin Odonnell sold 5,000 shares of RenaissanceRe Holdings stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $135.58, for a total value of $677,900.00. Following the completion of the transaction, the chief executive officer now owns 193,447 shares of the company’s stock, valued at $26,227,544.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 (NYSE:RNR) last posted its quarterly earnings data on Tuesday, October 31st. The insurance provider reported ($13.81) EPS for the quarter, missing the consensus estimate of ($12.25) by ($1.56). The company had revenue of $483.22 million during the quarter, compared to analysts’ expectations of $300.46 million. RenaissanceRe Holdings had a negative return on equity of 5.66% and a negative net margin of 7.60%. The company’s revenue for the quarter was up 70.0% on a year-over-year basis. During the same quarter last year, the company earned $2.09 earnings per share.

RenaissanceRe Holdings announced that its Board of Directors has initiated 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 buy up to 8.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

COPYRIGHT VIOLATION NOTICE: “RenaissanceRe Holdings Ltd. (RNR) CEO Kevin Odonnell Sells 5,000 Shares” was reported by American Banking News and is owned by of American Banking News. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international copyright laws. The correct version of this piece can be accessed at https://www.americanbankingnews.com/2017/11/02/renaissancere-holdings-ltd-rnr-ceo-kevin-odonnell-sells-5000-shares.html.

A number of hedge funds have recently modified their holdings of RNR. Americafirst Capital Management LLC purchased a new stake in RenaissanceRe Holdings in the 2nd quarter worth $161,000. Nomura Holdings Inc. purchased a new stake in RenaissanceRe Holdings in the 2nd quarter worth $212,000. Citigroup Inc. increased its stake in RenaissanceRe Holdings by 262.5% in the 2nd quarter. Citigroup Inc. now owns 1,566 shares of the insurance provider’s stock worth $218,000 after buying an additional 1,134 shares in the last quarter. Parametrica Management Ltd purchased a new stake in RenaissanceRe Holdings in the 2nd quarter worth $220,000. Finally, Pacad Investment Ltd. purchased a new stake in RenaissanceRe Holdings in the 2nd quarter worth $222,000. Institutional investors and hedge funds own 92.06% of the company’s stock.

Several equities analysts have recently weighed in on the company. Morgan Stanley reduced their price target on RenaissanceRe Holdings from $144.00 to $142.00 and set an “equal weight” rating for the company in a research report on Thursday. Citigroup Inc. upgraded RenaissanceRe Holdings from a “neutral” rating to a “buy” rating and lifted their price target for the company from $151.00 to $157.00 in a research report on Thursday. Zacks Investment Research cut RenaissanceRe Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday. Wells Fargo & Company set a $140.00 price target on RenaissanceRe Holdings and gave the company a “hold” rating in a research report on Tuesday. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $136.00 price target on shares of RenaissanceRe Holdings in a research report on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target 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.

Insider Buying and Selling by Quarter for RenaissanceRe Holdings (NYSE:RNR)

Receive News & Ratings for RenaissanceRe Holdings Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RenaissanceRe Holdings Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.