Key Points
- EVP John Hayden sold 414 shares of Reinsurance Group of America on May 20 at an average price of $214.95, worth about $88,989. After the sale, he still held 20,949 shares, reducing his stake by 1.94%.
- RGA reported strong quarterly results, with EPS of $6.97 beating estimates by $0.94 and revenue of $6.49 billion topping expectations. Revenue also rose 23.5% year over year.
- The company announced a quarterly dividend of $0.93 per share, payable June 2, implying an annualized dividend of $3.72 and a yield of 1.7%. Analysts remain generally positive, with a consensus Moderate Buy rating and an average price target of $251.25.
Reinsurance Group of America, Incorporated (NYSE:RGA - Get Free Report) EVP John Hayden sold 414 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $214.95, for a total value of $88,989.30. Following the transaction, the executive vice president directly owned 20,949 shares in the company, valued at approximately $4,502,987.55. This represents a 1.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Reinsurance Group of America Stock Performance
NYSE RGA opened at $213.71 on Friday. The company has a market cap of $14.00 billion, a P/E ratio of 11.58 and a beta of 0.50. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.14 and a current ratio of 0.14. The business's 50 day moving average price is $207.68 and its 200-day moving average price is $203.86. Reinsurance Group of America, Incorporated has a fifty-two week low of $165.52 and a fifty-two week high of $229.21.
Reinsurance Group of America (NYSE:RGA - Get Free Report) last released its earnings results on Thursday, May 7th. The insurance provider reported $6.97 earnings per share for the quarter, beating the consensus estimate of $6.03 by $0.94. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.47 billion. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.The company's revenue for the quarter was up 23.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.66 EPS. Sell-side analysts predict that Reinsurance Group of America, Incorporated will post 26.67 earnings per share for the current year.
Reinsurance Group of America Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 19th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $3.72 annualized dividend and a dividend yield of 1.7%. Reinsurance Group of America's payout ratio is currently 20.15%.
Wall Street Analyst Weigh In
RGA has been the topic of several analyst reports. Evercore reissued an "outperform" rating and set a $267.00 target price on shares of Reinsurance Group of America in a research report on Monday. Morgan Stanley boosted their target price on Reinsurance Group of America from $208.00 to $223.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 3rd. Wall Street Zen raised Reinsurance Group of America from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Wells Fargo & Company boosted their target price on Reinsurance Group of America from $238.00 to $261.00 and gave the company an "overweight" rating in a research report on Wednesday, February 25th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Reinsurance Group of America in a research report on Wednesday, May 13th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $251.25.
Check Out Our Latest Stock Analysis on Reinsurance Group of America
Hedge Funds Weigh In On Reinsurance Group of America
Several hedge funds have recently bought and sold shares of the business. Principal Securities Inc. grew its position in Reinsurance Group of America by 3.6% in the 4th quarter. Principal Securities Inc. now owns 1,490 shares of the insurance provider's stock valued at $303,000 after acquiring an additional 52 shares during the last quarter. Rehmann Capital Advisory Group grew its position in Reinsurance Group of America by 1.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 4,281 shares of the insurance provider's stock valued at $819,000 after acquiring an additional 54 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in Reinsurance Group of America by 6.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 974 shares of the insurance provider's stock valued at $198,000 after acquiring an additional 56 shares during the last quarter. Bessemer Group Inc. grew its position in Reinsurance Group of America by 1.0% in the 3rd quarter. Bessemer Group Inc. now owns 5,776 shares of the insurance provider's stock valued at $1,110,000 after acquiring an additional 58 shares during the last quarter. Finally, Xponance Inc. grew its position in Reinsurance Group of America by 0.8% in the 3rd quarter. Xponance Inc. now owns 7,637 shares of the insurance provider's stock valued at $1,467,000 after acquiring an additional 58 shares during the last quarter. Institutional investors 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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