Insider Selling: Reinsurance Group of America (NYSE:RGA) EVP Sells $2,115,470.70 in Stock

Reinsurance Group of America, Incorporated (NYSE:RGA) EVP Jonathan Porter sold 8,589 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $246.30, for a total transaction of $2,115,470.70. Following the completion of the transaction, the executive vice president owned 14,885 shares in the company, valued at $3,666,175.50. This represents a 36.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Reinsurance Group of America Stock Performance

RGA opened at $240.70 on Thursday. Reinsurance Group of America, Incorporated has a 52-week low of $178.21 and a 52-week high of $251.00. The firm has a market capitalization of $15.72 billion, a PE ratio of 10.57 and a beta of 0.47. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.14 and a current ratio of 0.14. The business’s 50-day simple moving average is $229.55 and its 200 day simple moving average is $216.43.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, August 6th. The insurance provider reported $8.89 earnings per share for the quarter, beating analysts’ consensus estimates of $6.50 by $2.39. The firm had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $6.67 billion. Reinsurance Group of America had a return on equity of 14.78% and a net margin of 5.81%.The business’s revenue was up 18.5% compared to the same quarter last year. During the same period last year, the company earned $4.72 earnings per share. As a group, sell-side analysts expect that Reinsurance Group of America, Incorporated will post 28.26 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 1.6%. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Tuesday, August 18th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 17.22%.

Institutional Investors Weigh In On Reinsurance Group of America

A number of hedge funds and other institutional investors have recently modified their holdings of RGA. AQR Capital Management LLC raised its holdings in Reinsurance Group of America by 148.4% in the 4th quarter. AQR Capital Management LLC now owns 1,652,102 shares of the insurance provider’s stock valued at $336,137,000 after acquiring an additional 987,014 shares in the last quarter. Norges Bank bought a new position in shares of Reinsurance Group of America in the fourth quarter worth $173,767,000. Orion Porfolio Solutions LLC increased its position in shares of Reinsurance Group of America by 6,076.4% in the second quarter. Orion Porfolio Solutions LLC now owns 602,503 shares of the insurance provider’s stock worth $119,512,000 after purchasing an additional 592,748 shares during the period. SEB Asset Management AB acquired a new position in Reinsurance Group of America in the first quarter valued at about $81,533,000. Finally, Bank of New York Mellon Corp bought a new stake in Reinsurance Group of America during the second quarter worth about $82,836,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on RGA. UBS Group raised Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 24th. Barclays increased their price target on Reinsurance Group of America from $278.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. JPMorgan Chase & Co. upped their price objective on shares of Reinsurance Group of America from $286.00 to $293.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Wells Fargo & Company raised their target price on shares of Reinsurance Group of America from $269.00 to $291.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Wall Street Zen upgraded shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $259.56.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.