Insider Selling: Reinsurance Group of America, Incorporated (NYSE:RGA) EVP Sells $264,734.73 in Stock

Reinsurance Group of America, Incorporated (NYSE:RGA) EVP William L. Hutton sold 1,209 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total value of $264,734.73. Following the completion of the transaction, the executive vice president now directly owns 12,357 shares of the company’s stock, valued at $2,705,812.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Reinsurance Group of America Stock Down 0.4 %

Shares of NYSE RGA opened at $218.55 on Thursday. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.52. The company has a market cap of $14.38 billion, a price-to-earnings ratio of 16.98 and a beta of 0.91. Reinsurance Group of America, Incorporated has a 12-month low of $140.39 and a 12-month high of $227.87. The firm’s 50-day simple moving average is $213.26 and its 200 day simple moving average is $204.16.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.94 by $0.54. The firm had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $5.07 billion. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.40 EPS. On average, research analysts expect that Reinsurance Group of America, Incorporated will post 21.7 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.85. Reinsurance Group of America’s dividend payout ratio (DPR) is 27.66%.

Institutional Investors Weigh In On Reinsurance Group of America

Institutional investors have recently modified their holdings of the business. GHP Investment Advisors Inc. raised its position in shares of Reinsurance Group of America by 0.7% in the 2nd quarter. GHP Investment Advisors Inc. now owns 9,462 shares of the insurance provider’s stock valued at $1,942,000 after acquiring an additional 62 shares during the period. Covestor Ltd raised its position in shares of Reinsurance Group of America by 20.3% during the first quarter. Covestor Ltd now owns 374 shares of the insurance provider’s stock worth $72,000 after purchasing an additional 63 shares during the period. Fiduciary Family Office LLC lifted its holdings in shares of Reinsurance Group of America by 3.1% during the 2nd quarter. Fiduciary Family Office LLC now owns 2,550 shares of the insurance provider’s stock valued at $523,000 after purchasing an additional 76 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Reinsurance Group of America by 16.5% in the 2nd quarter. GAMMA Investing LLC now owns 559 shares of the insurance provider’s stock valued at $115,000 after purchasing an additional 79 shares during the period. Finally, Hilltop National Bank increased its stake in Reinsurance Group of America by 13.1% during the 2nd quarter. Hilltop National Bank now owns 706 shares of the insurance provider’s stock worth $145,000 after purchasing an additional 82 shares in the last quarter. Institutional investors and hedge funds own 95.11% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RGA. Citigroup increased their price objective on shares of Reinsurance Group of America from $194.00 to $252.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. StockNews.com downgraded Reinsurance Group of America from a “buy” rating to a “hold” rating in a report on Thursday, September 5th. UBS Group increased their target price on Reinsurance Group of America from $223.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. increased their price objective on Reinsurance Group of America from $208.00 to $220.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, Piper Sandler boosted their target price on shares of Reinsurance Group of America from $228.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, June 28th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $225.17.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated engages in reinsurance business. The company offers individual and group life and health insurance products, such as term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products; asset-intensive and financial reinsurance products; and other capital motivated solutions.