Insider Selling: Reinsurance Group of America VP Sells 3,439 Shares of Stock (RGA)
Reinsurance Group of America (NYSE:RGA) VP Alain Neemeh sold 3,439 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $82.52, for a total transaction of $283,786.28. Following the sale, the vice president now directly owns 23,549 shares of the company’s stock, valued at approximately $1,943,263. The sale was disclosed in a filing with the SEC, which is available at this link.
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 equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Reinsurance Group of America has a consensus rating of “Hold” and an average target price of $87.00.
Reinsurance Group of America (NYSE:RGA) traded up 0.44% on Wednesday, hitting $82.84. 418,247 shares of the company’s stock traded hands. Reinsurance Group of America has a 1-year low of $63.95 and a 1-year high of $82.75. The stock has a 50-day moving average of $80.64 and a 200-day moving average of $78.40. The company has a market cap of $5.680 billion and a price-to-earnings ratio of 9.47.
Reinsurance Group of America (NYSE:RGA) last announced its earnings results 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. Investors 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 1.59%. The ex-dividend date is Wednesday, August 6th. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.30.
Reinsurance Group of America, Incorporated (NYSE:RGA) is an insurance holding company.
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