Reinsurance Group of America (NYSE:RGA) EVP Sells $1,045,933.56 in Stock

Reinsurance Group of America, Incorporated (NYSE:RGA) EVP Jonathan Porter sold 3,852 shares of the stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $271.53, for a total transaction of $1,045,933.56. Following the transaction, the executive vice president owned 11,033 shares of the company’s stock, valued at approximately $2,995,790.49. This represents a 25.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Reinsurance Group of America Stock Up 0.1%

Shares of NYSE RGA traded up $0.36 during mid-day trading on Friday, hitting $274.10. The company had a trading volume of 45,635 shares, compared to its average volume of 380,324. The company has a current ratio of 0.16, a quick ratio of 0.14 and a debt-to-equity ratio of 0.45. The firm has a 50-day simple moving average of $257.08 and a two-hundred day simple moving average of $227.85. The company has a market capitalization of $17.83 billion, a PE ratio of 10.59 and a beta of 0.43. Reinsurance Group of America, Incorporated has a one year low of $182.73 and a one year high of $277.15.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Thursday, November 5th. The insurance provider reported $8.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.97 by $1.52. Reinsurance Group of America had a return on equity of 16.18% and a net margin of 6.26%. The business had revenue of $7.55 billion for the quarter, compared to analyst estimates of $6.69 billion. During the same quarter in the prior year, the company posted $6.37 earnings per share. On average, equities analysts expect that Reinsurance Group of America, Incorporated will post 30.05 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, November 17th will be paid a dividend of $0.98 per share. The ex-dividend date is Tuesday, November 17th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.4%. Reinsurance Group of America’s dividend payout ratio is currently 15.15%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Reinsurance Group of America in a report on Wednesday, November 4th. JPMorgan Chase & Co. boosted their target price on shares of Reinsurance Group of America from $293.00 to $297.00 and gave the stock an “overweight” rating in a report on Thursday, October 15th. Wells Fargo & Company upped their price target on shares of Reinsurance Group of America from $292.00 to $312.00 and gave the stock an “overweight” rating in a research report on Thursday. Piper Sandler increased their price target on shares of Reinsurance Group of America from $274.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Barclays set a $292.00 price objective on shares of Reinsurance Group of America in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Reinsurance Group of America presently has a consensus rating of “Buy” and a consensus target price of $281.12.

Institutional Investors Weigh In On Reinsurance Group of America

Several hedge funds have recently added to or reduced their stakes in RGA. Wealth Alliance LLC acquired a new stake in shares of Reinsurance Group of America in the third quarter valued at approximately $207,000. Xcelsior Advisor Partners LLC acquired a new position in shares of Reinsurance Group of America during the 3rd quarter worth $258,000. AlphaGrep UK Ltd lifted its position in shares of Reinsurance Group of America by 14.3% during the 3rd quarter. AlphaGrep UK Ltd now owns 2,225 shares of the insurance provider’s stock worth $548,000 after buying an additional 278 shares during the last quarter. Meeder Advisory Services Inc. lifted its position in shares of Reinsurance Group of America by 28.1% during the 3rd quarter. Meeder Advisory Services Inc. now owns 1,255 shares of the insurance provider’s stock worth $309,000 after buying an additional 275 shares during the last quarter. Finally, Jackson Thornton Wealth Management LLC acquired a new stake in Reinsurance Group of America in the third quarter valued at about $205,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated (RGA) is a global life and health reinsurer. It works with insurance companies to help them manage risks and support the development and distribution of insurance products. Its services include life and health reinsurance, as well as solutions involving longevity risk and asset-intensive reinsurance. RGA also provides underwriting expertise, data and analytics, and product and risk-management support to its clients. Founded in 1973, RGA serves clients across North America, Latin America, Europe, the Middle East and Africa, and Asia Pacific.