RenaissanceRe (RNR) to Release Quarterly Earnings on Wednesday

RenaissanceRe (NYSE:RNR) will be announcing its earnings results after the market closes on Wednesday, January 31st. Analysts expect the company to announce earnings of $0.93 per share for the quarter.

RenaissanceRe (NYSE:RNR) last announced its quarterly earnings data on Tuesday, October 31st. The insurance provider reported ($13.81) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($12.25) by ($1.56). The firm had revenue of $483.22 million for the quarter, compared to analysts’ expectations of $300.46 million. RenaissanceRe had a negative net margin of 7.60% and a negative return on equity of 5.82%. The business’s quarterly revenue was up 70.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.09 earnings per share. On average, analysts expect RenaissanceRe to post $-9 EPS for the current fiscal year and $10 EPS for the next fiscal year.

RenaissanceRe (RNR) opened at $130.16 on Wednesday. The firm has a market capitalization of $5,180.00, a PE ratio of -29.25, a P/E/G ratio of 1.33 and a beta of 0.67. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.25. RenaissanceRe has a 1-year low of $116.50 and a 1-year high of $152.00.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were issued a dividend of $0.32 per share. The ex-dividend date was Thursday, December 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.98%. RenaissanceRe’s dividend payout ratio is -28.76%.

RenaissanceRe declared that its Board of Directors has approved a share buyback program on Friday, November 10th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

In other news, CEO Kevin Odonnell sold 5,000 shares of RenaissanceRe stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $135.58, for a total value of $677,900.00. Following the sale, the chief executive officer now directly 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. Also, SVP Sean G. Brosnan sold 1,391 shares of RenaissanceRe stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $135.73, for a total value of $188,800.43. Following the completion of the sale, the senior vice president now owns 8,405 shares in the company, valued at $1,140,810.65. The disclosure for this sale can be found here. Insiders sold a total of 11,391 shares of company stock worth $1,524,950 over the last ninety days. Insiders own 1.80% of the company’s stock.

A number of equities analysts have commented on RNR shares. Citigroup raised RenaissanceRe from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $151.00 to $157.00 in a research note on Thursday, November 2nd. Morgan Stanley decreased their price target on RenaissanceRe from $144.00 to $142.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 2nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $136.00 price target on shares of RenaissanceRe in a research note on Monday, October 16th. ValuEngine cut RenaissanceRe from a “buy” rating to a “hold” rating in a research note on Friday, October 6th. Finally, Wells Fargo & Co set a $140.00 price target on RenaissanceRe and gave the stock a “hold” rating in a research note on Wednesday, October 4th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $146.50.

ILLEGAL ACTIVITY WARNING: This article was first posted by American Banking News and is the sole property of of American Banking News. If you are reading this article on another domain, it was stolen and reposted in violation of US and international copyright & trademark law. The legal version of this article can be read at

About RenaissanceRe

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 (NYSE:RNR)

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

Leave a Reply