Reinsurance Group of America Inc (NYSE:RGA) declared a quarterly dividend on Wednesday, October 30th, Zacks reports. Investors of record on Tuesday, November 12th will be paid a dividend of 0.70 per share by the insurance provider on Tuesday, December 3rd. This represents a $2.80 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Friday, November 8th. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.60.
RGA traded up $1.93 during trading on Wednesday, reaching $167.10. 1,035 shares of the company’s stock were exchanged, compared to its average volume of 236,589. Reinsurance Group of America has a 1 year low of $129.17 and a 1 year high of $169.08. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.12 and a quick ratio of 0.13. The stock has a market capitalization of $10.34 billion, a P/E ratio of 13.80 and a beta of 0.65. The company’s fifty day simple moving average is $158.22 and its 200-day simple moving average is $153.99.
Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $4.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.42 by $0.60. Reinsurance Group of America had a net margin of 5.40% and a return on equity of 8.49%. The company had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.45 billion. During the same period last year, the firm posted $4.03 EPS. Reinsurance Group of America’s revenue for the quarter was up 12.4% compared to the same quarter last year. Equities analysts forecast that Reinsurance Group of America will post 13.63 EPS for the current year.
RGA has been the subject of several recent research reports. Morgan Stanley lifted their target price on shares of Reinsurance Group of America from $144.00 to $146.00 and gave the company an “underweight” rating in a report on Thursday, October 31st. Royal Bank of Canada set a $170.00 target price on shares of Reinsurance Group of America and gave the company a “buy” rating in a report on Wednesday, July 31st. Zacks Investment Research raised shares of Reinsurance Group of America from a “sell” rating to a “hold” rating and set a $160.00 target price for the company in a report on Friday, October 11th. Citigroup lifted their target price on shares of Reinsurance Group of America from $173.00 to $181.00 and gave the company a “buy” rating in a report on Friday, September 13th. Finally, UBS Group cut their target price on shares of Reinsurance Group of America from $156.00 to $154.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $162.20.
In other Reinsurance Group of America news, EVP William L. Hutton sold 4,200 shares of Reinsurance Group of America stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $161.41, for a total transaction of $677,922.00. Following the sale, the executive vice president now owns 22,713 shares of the company’s stock, valued at approximately $3,666,105.33. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP William L. Hutton sold 1,500 shares of Reinsurance Group of America stock in a transaction on Monday, September 9th. The stock was sold at an average price of $158.15, for a total transaction of $237,225.00. Following the sale, the executive vice president now directly owns 16,239 shares in the company, valued at approximately $2,568,197.85. The disclosure for this sale can be found here. Insiders sold a total of 8,000 shares of company stock worth $1,271,243 in the last three months. 0.78% of the stock is owned by corporate insiders.
Reinsurance Group of America Company Profile
Reinsurance Group of America, Incorporated engages in reinsurance business. It offers individual and group life and health insurance products, including term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products, as well as asset-intensive and financial reinsurance products.
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