Reinsurance Group of America, Incorporated (NYSE:RGA - Get Free Report) EVP Jonathan Porter sold 8,589 shares of the firm's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $246.30, for a total transaction of $2,115,470.70. Following the sale, the executive vice president owned 14,885 shares of the company's stock, valued at $3,666,175.50. This trade represents a 36.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Reinsurance Group of America Price Performance
Shares of NYSE RGA opened at $247.11 on Tuesday. The firm has a market cap of $16.14 billion, a P/E ratio of 10.85 and a beta of 0.47. The business's 50 day moving average is $228.03 and its 200-day moving average is $215.80. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.41. Reinsurance Group of America, Incorporated has a 1-year low of $178.21 and a 1-year high of $251.00.
Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The insurance provider reported $8.89 EPS for the quarter, beating analysts' consensus estimates of $6.50 by $2.39. Reinsurance Group of America had a return on equity of 14.78% and a net margin of 5.81%.The firm had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.67 billion. During the same period in the prior year, the firm posted $4.72 EPS. The company's revenue for the quarter was up 18.5% on a year-over-year basis. Equities research analysts predict that Reinsurance Group of America, Incorporated will post 28.26 earnings per share for the current year.
Reinsurance Group of America Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be issued a dividend of $0.98 per share. This is a boost from Reinsurance Group of America's previous quarterly dividend of $0.93. This represents a $3.92 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, August 18th. Reinsurance Group of America's payout ratio is 16.34%.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in Reinsurance Group of America by 148.4% during 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 in the last quarter. Norges Bank bought a new stake in Reinsurance Group of America during the fourth quarter worth $173,767,000. Orion Porfolio Solutions LLC boosted its holdings in shares of Reinsurance Group of America by 6,076.4% in the 2nd 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 in the last quarter. SEB Asset Management AB acquired a new stake in shares of Reinsurance Group of America in the 1st quarter valued at $81,533,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Reinsurance Group of America in the 2nd quarter valued at $82,836,000. 95.11% of the stock is owned by institutional investors.
Analyst Ratings Changes
RGA has been the topic of a number of analyst reports. Weiss Ratings reissued a "buy (b)" rating on shares of Reinsurance Group of America in a research report on Friday, August 7th. Evercore reaffirmed an "outperform" rating and issued a $267.00 price objective on shares of Reinsurance Group of America in a report on Monday, May 18th. TD Cowen increased their target price on Reinsurance Group of America from $212.00 to $235.00 and gave the stock a "hold" rating in a report on Wednesday, July 22nd. Piper Sandler decreased their price target 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. Finally, Barclays raised their price target on Reinsurance Group of America from $278.00 to $290.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $257.11.
Read Our Latest Analysis on RGA
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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