Reinsurance Group of America Inc. (RGA) Sees Large Volume Increase
Reinsurance Group of America Inc. (NYSE:RGA) saw unusually-strong trading volume on Friday . Approximately 434,458 shares traded hands during mid-day trading, an increase of 90% from the previous session’s volume of 228,097 shares.The stock last traded at $104.61 and had previously closed at $105.04.
A number of equities research analysts have recently issued reports on RGA shares. Zacks Investment Research downgraded shares of Reinsurance Group of America from a “hold” rating to a “sell” rating in a research note on Monday, July 4th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Reinsurance Group of America in a research note on Wednesday, July 6th. Goldman Sachs Group Inc. raised shares of Reinsurance Group of America from a “neutral” rating to a “buy” rating and upped their target price for the stock from $96.00 to $108.00 in a research note on Friday, July 15th. Deutsche Bank AG upped their target price on shares of Reinsurance Group of America from $103.00 to $108.00 and gave the stock a “buy” rating in a research note on Monday, August 1st. Finally, Citigroup Inc. upped their target price on shares of Reinsurance Group of America from $97.00 to $98.00 and gave the stock a “neutral” rating in a research note on Thursday, July 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Reinsurance Group of America presently has a consensus rating of “Hold” and an average target price of $98.89.
The stock has a market cap of $6.70 billion and a P/E ratio of 12.31. The company’s 50 day moving average price is $99.20 and its 200 day moving average price is $95.74.
Reinsurance Group of America (NYSE:RGA) last released its quarterly 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 firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $2.71 billion. Reinsurance Group of America’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.94 earnings per share. On average, analysts anticipate that Reinsurance Group of America Inc. will post $9.51 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 30th. Investors of record on Tuesday, August 9th will be given a $0.41 dividend. The ex-dividend date of this dividend is Friday, August 5th. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.37. This represents a $1.64 annualized dividend and a dividend yield of 1.57%.
In related news, CFO Todd C. Larson sold 2,355 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $100.73, for a total value of $237,219.15. Following the sale, the chief financial officer now directly owns 24,955 shares of the company’s stock, valued at $2,513,717.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO A Greig Woodring sold 31,058 shares of the firm’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 transaction of $3,125,055.96. Following the completion of the sale, the chief executive officer now directly owns 208,353 shares in the company, valued at $20,964,478.86. The disclosure for this sale can be found here.
An institutional investor recently bought a new position in Reinsurance Group of America stock. Marshall Wace LLP bought a new stake in Reinsurance Group of America Inc. (NYSE:RGA) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 19,219 shares of the company’s stock, valued at approximately $1,644,000.
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.