Reinsurance Group of America Inc. (RGA) Sees Strong Trading Volume
Reinsurance Group of America Inc. (NYSE:RGA) saw unusually-strong trading volume on Friday . Approximately 434,458 shares were traded during 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 research analysts have recently weighed in on RGA shares. Goldman Sachs Group Inc. raised shares of Reinsurance Group of America from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $96.00 to $108.00 in a research note on Friday, July 15th. Zacks Investment Research lowered shares of Reinsurance Group of America from a “hold” rating to a “sell” rating in a research report on Monday, July 4th. Deutsche Bank AG raised their target price on shares of Reinsurance Group of America from $98.00 to $103.00 and gave the stock a “buy” rating in a research report on Thursday, July 7th. Evercore ISI assumed coverage on shares of Reinsurance Group of America in a research report on Wednesday, July 6th. They set 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. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $98.89.
The company has a market cap of $6.70 billion and a P/E ratio of 12.31. The firm’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 earnings results on Thursday, July 28th. The company reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.51. The business earned $3.04 billion during the quarter, compared to the consensus estimate of $2.71 billion. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.94 earnings per share. Equities research analysts expect that Reinsurance Group of America Inc. will post $9.51 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 30th. Investors of record on Tuesday, August 9th will be issued a $0.41 dividend. The ex-dividend date is Friday, August 5th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.57%. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.37.
In related news, CEO A Greig Woodring sold 31,058 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $100.62, for a total value of $3,125,055.96. Following the sale, the chief executive officer now directly owns 208,353 shares in the company, valued at approximately $20,964,478.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Todd C. Larson sold 2,355 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $100.73, for a total transaction of $237,219.15. Following the completion of the sale, the chief financial officer now owns 24,955 shares in the company, valued at $2,513,717.15. The disclosure for this sale can be found here.
A hedge fund recently bought a new stake in Reinsurance Group of America stock. Marshall Wace LLP bought a new position 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 institutional investor 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.
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