Jonathan Porter Sells 8,589 Shares of Reinsurance Group of America (NYSE:RGA) Stock

Reinsurance Group of America, Incorporated (NYSE:RGAGet Free Report) EVP Jonathan Porter sold 8,589 shares of the stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $246.30, for a total value of $2,115,470.70. Following the transaction, the executive vice president owned 14,885 shares of the company’s stock, valued at approximately $3,666,175.50. The trade was a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Reinsurance Group of America Trading Down 0.9%

NYSE RGA opened at $244.71 on Wednesday. Reinsurance Group of America, Incorporated has a 52 week low of $178.21 and a 52 week high of $251.00. 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 stock’s 50 day moving average price is $228.86 and its two-hundred day moving average price is $216.14. The stock has a market capitalization of $15.98 billion, a price-to-earnings ratio of 10.75 and a beta of 0.47.

Reinsurance Group of America (NYSE:RGAGet Free Report) last posted its quarterly earnings data on Thursday, August 6th. The insurance provider reported $8.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.50 by $2.39. The company had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.67 billion. Reinsurance Group of America had a net margin of 5.81% and a return on equity of 14.78%. The firm’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, analysts anticipate 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 paid a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 1.6%. The ex-dividend date is Tuesday, August 18th. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.93. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 16.34%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Activest Wealth Management bought a new position in Reinsurance Group of America during the fourth quarter worth $30,000. Tobam raised its position in shares of Reinsurance Group of America by 244.7% in the fourth quarter. Tobam now owns 162 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 115 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Reinsurance Group of America during the 4th quarter worth about $35,000. Entrust Financial LLC bought a new stake in shares of Reinsurance Group of America during the 4th quarter worth about $40,000. Finally, Advisory Services Network LLC bought a new stake in shares of Reinsurance Group of America during the 3rd quarter worth about $38,000. 95.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RGA has been the subject of several analyst reports. UBS Group upgraded Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Reinsurance Group of America in a research report on Friday, August 7th. Barclays raised 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. Wall Street Zen raised Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, TD Cowen upped their price objective on Reinsurance Group of America from $212.00 to $235.00 and gave the stock a “hold” rating in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $257.11.

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About Reinsurance Group of America

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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.

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