Reinsurance Group of America Inc. (RGA) Sets New 12-Month High at $106.36
Reinsurance Group of America Inc. (NYSE:RGA) shares reached 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 recently weighed in on RGA shares. Deutsche Bank AG raised their target price on Reinsurance Group of America from $103.00 to $108.00 and gave the company a “buy” rating in a research note on Monday, August 1st. 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 note on Friday, July 15th. JPMorgan Chase & Co. restated a “buy” rating on shares of Reinsurance Group of America in a research note on Wednesday, July 6th. Evercore ISI started coverage on Reinsurance Group of America in a research note on Wednesday, July 6th. They set a “hold” rating and a $92.00 target price for the company. Finally, Citigroup Inc. raised their target price on Reinsurance Group of America from $97.00 to $98.00 and gave the company a “neutral” rating in a research note on Thursday, July 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $98.89.
The stock has a market capitalization of $6.85 billion and a price-to-earnings ratio of 12.59. The company has a 50-day moving average price of $99.84 and a 200-day moving average price of $96.22.
Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, July 28th. The company reported $2.80 EPS for the quarter, beating the consensus estimate of $2.29 by $0.51. The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $2.71 billion. The company’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.94 earnings per share. Analysts anticipate that Reinsurance Group of America Inc. will post $9.51 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 30th. Investors of record on Tuesday, August 9th were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 1.53%. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, August 5th.
In related news, CEO A Greig Woodring sold 31,058 shares of Reinsurance Group of America stock in a transaction 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 completion of the sale, the chief executive officer now owns 208,353 shares of the company’s stock, valued at approximately $20,964,478.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Anna Manning sold 2,015 shares of Reinsurance Group of America stock in a transaction on Friday, August 26th. The shares were sold at an average price of $105.22, for a total transaction of $212,018.30. Following the completion of the sale, the president now directly owns 9,707 shares of the company’s stock, valued at approximately $1,021,370.54. The disclosure for this sale can be found here.
A hedge fund recently raised its stake 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 Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 320,763 shares of the company’s stock after buying an additional 8,871 shares during the period. BlackRock Advisors LLC owned about 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.