Reinsurance Group of America Reaches New 1-Year High at $82.75 (RGA)
Reinsurance Group of America (NYSE:RGA) shares reached a new 52-week high during mid-day trading on Tuesday , Analyst RN reports. The company traded as high as $82.75 and last traded at $82.56, with a volume of 81,095 shares changing hands. The stock had previously closed at $82.44.
A number of research firms have recently commented on RGA. Analysts at Zacks reiterated a “neutral” rating on shares of Reinsurance Group of America in a research note on Wednesday, August 13th. They now have a $84.00 price target on the stock. Separately, analysts at Morgan Stanley downgraded shares of Reinsurance Group of America from an “equal weight” rating to an “underweight” rating in a research note on Monday, August 11th. Finally, analysts at Keefe, Bruyette & Woods raised their price target on shares of Reinsurance Group of America from $86.00 to $88.00 in a research note on Thursday, July 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $87.00.
The stock’s 50-day moving average is $80. and its 200-day moving average is $78.3. The company has a market cap of $5.655 billion and a price-to-earnings ratio of 9.47.
Reinsurance Group of America (NYSE:RGA) last released its earnings data on Thursday, July 24th. The company reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.26. During the same quarter in the previous year, the company posted ($0.99) earnings per share. Analysts expect that Reinsurance Group of America will post $8.07 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 29th. Stockholders of record on Friday, August 8th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Wednesday, August 6th. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.30.
In other Reinsurance Group of America news, EVP Todd C. Larson unloaded 3,949 shares of Reinsurance Group of America stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $81.57, for a total transaction of $322,119.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Reinsurance Group of America, Incorporated (NYSE:RGA) is an insurance holding company.
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