Reinsurance Group of America Inc. (RGA) Hits New 12-Month High at $108.34
Reinsurance Group of America Inc. (NYSE:RGA)’s share price reached a new 52-week high on Monday . The stock traded as high as $108.34 and last traded at $108.22, with a volume of 283,200 shares changing hands. The stock had previously closed at $106.90.
RGA has been the topic of several research reports. Goldman Sachs Group Inc. upgraded Reinsurance Group of America from a “neutral” rating to a “buy” rating and raised their target price for the company from $96.00 to $108.00 in a research report on Friday, July 15th. Zacks Investment Research upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a research report on Wednesday, August 31st. Deutsche Bank AG raised their target price on Reinsurance Group of America from $98.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, July 7th. Evercore ISI initiated coverage on Reinsurance Group of America in a research report on Wednesday, July 6th. They issued a “hold” rating and a $92.00 target price on the stock. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Reinsurance Group of America in a research report on Wednesday, July 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $101.56.
The stock has a 50 day moving average of $100.79 and a 200-day moving average of $96.46. The firm has a market capitalization of $6.93 billion and a P/E ratio of 12.74.
Reinsurance Group of America (NYSE:RGA) last released its earnings results on Thursday, July 28th. The company reported $2.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.29 by $0.51. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same quarter in the previous year, the firm posted $1.94 EPS. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. Equities analysts expect that Reinsurance Group of America Inc. will post $9.51 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 30th. Shareholders of record on Tuesday, August 9th were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 1.52%. The ex-dividend date was Friday, August 5th. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.37.
In other Reinsurance Group of America news, SVP John W. Hayden sold 1,988 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $105.42, for a total transaction of $209,574.96. Following the transaction, the senior vice president now owns 8,074 shares in the company, valued at approximately $851,161.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO A Greig Woodring sold 31,058 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $100.62, for a total value of $3,125,055.96. Following the transaction, the chief executive officer now owns 208,353 shares in the company, valued at approximately $20,964,478.86. The disclosure for this sale can be found here.
Reinsurance Group of America, Incorporated (RGA) is an insurance holding company. The Company provides traditional and non-traditional life and health reinsurance. The Company has geographic-based or function-based segments, including U.S. and Latin America; Canada; Europe, Middle East and Africa; Asia Pacific, and Corporate and Other.