Key Points
- RGA EVP Ronald Herrmann sold 7,000 shares on May 14 at an average price of $210.58, totaling about $1.47 million. After the transaction, he directly owned 3,938 shares, a 64% reduction in his holdings.
- The company recently beat quarterly expectations, reporting earnings of $6.97 per share versus the $6.03 consensus estimate, with revenue of $6.49 billion. Revenue rose 23.5% year over year, and analysts now expect full-year EPS of 26.39.
- RGA continues to return cash to shareholders with a quarterly dividend of $0.93 per share, payable June 2 to shareholders of record on May 19. That works out to an annualized dividend of $3.72 and a yield of about 1.7%.
Reinsurance Group of America, Incorporated (NYSE:RGA - Get Free Report) EVP Ronald Herrmann sold 7,000 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $210.58, for a total value of $1,474,060.00. Following the sale, the executive vice president directly owned 3,938 shares in the company, valued at approximately $829,264.04. This represents a 64.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Reinsurance Group of America Price Performance
RGA opened at $215.06 on Tuesday. The firm has a market cap of $14.09 billion, a price-to-earnings ratio of 11.65 and a beta of 0.50. Reinsurance Group of America, Incorporated has a fifty-two week low of $165.52 and a fifty-two week high of $229.21. The company's 50-day moving average price is $207.16 and its 200 day moving average price is $203.24. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.46.
Reinsurance Group of America (NYSE:RGA - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The insurance provider reported $6.97 earnings per share for the quarter, topping the consensus estimate of $6.03 by $0.94. The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.47 billion. Reinsurance Group of America had a net margin of 4.92% and a return on equity of 13.16%. Reinsurance Group of America's quarterly revenue was up 23.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.66 earnings per share. As a group, sell-side analysts expect that Reinsurance Group of America, Incorporated will post 26.39 earnings per share for the current year.
Reinsurance Group of America Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th will be paid a dividend of $0.93 per share. The ex-dividend date is Tuesday, May 19th. This represents a $3.72 annualized dividend and a yield of 1.7%. Reinsurance Group of America's dividend payout ratio is 20.15%.
Analyst Ratings Changes
Several equities research analysts have weighed in on the company. Barclays increased their target price on Reinsurance Group of America from $256.00 to $268.00 and gave the stock an "overweight" rating in a research report on Friday, May 8th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Reinsurance Group of America in a research report on Wednesday, May 13th. Piper Sandler dropped their target price on Reinsurance Group of America from $263.00 to $261.00 and set an "overweight" rating on the stock in a research report on Monday, May 11th. Morgan Stanley increased their target price on Reinsurance Group of America from $208.00 to $223.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 3rd. Finally, TD Cowen reaffirmed a "hold" rating on shares of Reinsurance Group of America in a research report on Wednesday, January 28th. Seven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Reinsurance Group of America presently has a consensus rating of "Moderate Buy" and an average price target of $251.25.
View Our Latest Analysis on RGA
Institutional Investors Weigh In On Reinsurance Group of America
Several large investors have recently made changes to their positions in RGA. AQR Capital Management LLC increased its stake in shares of Reinsurance Group of America by 148.4% in the fourth quarter. AQR Capital Management LLC now owns 1,652,102 shares of the insurance provider's stock valued at $336,137,000 after purchasing an additional 987,014 shares during the period. Norges Bank acquired a new position in shares of Reinsurance Group of America during the fourth quarter valued at $173,767,000. Orion Porfolio Solutions LLC increased its holdings in shares of Reinsurance Group of America by 6,076.4% during the second quarter. Orion Porfolio Solutions LLC now owns 602,503 shares of the insurance provider's stock valued at $119,512,000 after purchasing an additional 592,748 shares during the period. SEB Asset Management AB acquired a new position in shares of Reinsurance Group of America during the first quarter valued at $81,533,000. Finally, Adage Capital Partners GP L.L.C. acquired a new position in shares of Reinsurance Group of America during the second quarter valued at $69,426,000. Institutional investors and hedge funds own 95.11% of the company's stock.
About Reinsurance Group of America
(
Get Free Report)
Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company's offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.
RGA's product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.
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