Reinsurance Group of America Inc. (RGA) Sets New 1-Year High at $106.36
Shares of Reinsurance Group of America Inc. (NYSE:RGA) hit a new 52-week high during trading on Monday . The stock traded as high as $106.36 and last traded at $106.33, with a volume of 90,759 shares changing hands. The stock had previously closed at $104.61.
Several analysts have commented on RGA shares. Zacks Investment Research lowered Reinsurance Group of America from a “hold” rating to a “sell” rating in a report on Monday, July 4th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Reinsurance Group of America in a report on Wednesday, July 6th. Goldman Sachs Group Inc. raised Reinsurance Group of America from a “neutral” rating to a “buy” rating and raised their price objective for the company from $96.00 to $108.00 in a report on Friday, July 15th. Deutsche Bank AG raised their price objective on Reinsurance Group of America from $103.00 to $108.00 and gave the company a “buy” rating in a report on Monday, August 1st. Finally, Citigroup Inc. raised their price objective on Reinsurance Group of America from $97.00 to $98.00 and gave the company a “neutral” rating in a report on Thursday, July 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $98.89.
The company has a market cap of $6.77 billion and a PE ratio of 12.439. The company has a 50-day moving average price of $99.20 and a 200 day moving average price of $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 for the quarter, topping analysts’ consensus estimates of $2.29 by $0.51. During the same quarter in the prior year, the company earned $1.94 EPS. The firm earned $3.04 billion during the quarter, compared to analyst estimates of $2.71 billion. The business’s revenue was up 15.5% on a year-over-year basis. Analysts forecast that Reinsurance Group of America Inc. will post $9.51 EPS for the current year.
The company also recently declared 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. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Friday, August 5th. 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 company’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 sale, the chief executive officer now owns 208,353 shares in the company, valued at approximately $20,964,478.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Todd C. Larson sold 2,355 shares of the company’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 value of $237,219.15. Following the completion of the sale, the chief financial officer now owns 24,955 shares in the company, valued at approximately $2,513,717.15. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Reinsurance Group of America stock. BlackRock Advisors LLC boosted its position in Reinsurance Group of America Inc. (NYSE:RGA) by 2.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 320,763 shares of the company’s stock after buying an additional 8,871 shares during the period. BlackRock Advisors LLC owned approximately 0.49% of Reinsurance Group of America worth $27,441,000 as of its most recent filing with the SEC.
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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