John Hayden Sells 414 Shares of Reinsurance Group of America (NYSE:RGA) Stock

Key Points

• Insider sale: RGA EVP John Hayden sold 414 shares on May 20 at an average price of $214.95, reducing his stake by 1.94% to 20,949 shares.
• Strong earnings and dividend: The company beat quarterly EPS estimates with $6.97 per share versus $6.03 expected, while revenue rose 23.5% year over year. RGA also declared a quarterly dividend of $0.93 per share, implying a 1.7% annualized yield.
• Analysts remain constructive: Wall Street’s consensus rating is Moderate Buy, with an average price target of $251.25. Several firms recently raised targets, including JPMorgan to $270 and Barclays to $268.

Reinsurance Group of America, Incorporated (NYSE:RGA - Get Free Report) EVP John Hayden sold 414 shares of the firm's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total value of $88,989.30. Following the sale, the executive vice president owned 20,949 shares in the company, valued at $4,502,987.55. This trade represents a 1.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Reinsurance Group of America Trading Down 0.7%

Shares of RGA traded down $1.46 during mid-day trading on Friday, hitting $213.71. The company had a trading volume of 296,642 shares, compared to its average volume of 376,434. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.46. The stock has a market cap of $14.00 billion, a PE ratio of 11.58 and a beta of 0.50. Reinsurance Group of America, Incorporated has a 1-year low of $165.52 and a 1-year high of $229.21. The business's 50-day simple moving average is $207.68 and its 200-day simple moving average is $203.86.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its earnings results on Thursday, May 7th. The insurance provider reported $6.97 earnings per share for the quarter, topping the consensus estimate of $6.03 by $0.94. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.47 billion. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.The business's quarterly revenue was up 23.5% on a year-over-year basis. During the same period last year, the company posted $5.66 EPS. Sell-side analysts forecast that Reinsurance Group of America, Incorporated will post 26.54 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th will be issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Tuesday, May 19th. Reinsurance Group of America's dividend payout ratio is currently 20.15%.

Wall Street Analysts Forecast Growth

RGA has been the subject of a number of recent analyst reports. Wells Fargo & Company increased their price target on shares of Reinsurance Group of America from $238.00 to $261.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 25th. UBS Group upped their price objective on Reinsurance Group of America from $216.00 to $220.00 and gave the stock a "neutral" rating in a research note on Thursday, April 9th. Barclays raised their target price on Reinsurance Group of America from $256.00 to $268.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. JPMorgan Chase & Co. boosted their price target on shares of Reinsurance Group of America from $264.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Finally, Piper Sandler lowered their price target on shares of Reinsurance Group of America from $263.00 to $261.00 and set an "overweight" rating for the company in a research report on Monday, May 11th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Reinsurance Group of America has a consensus rating of "Moderate Buy" and an average price target of $251.25.

Hedge Funds Weigh In On Reinsurance Group of America

Hedge funds have recently modified their holdings of the stock. WCM Investment Management LLC increased its position in shares of Reinsurance Group of America by 3.0% in the first quarter. WCM Investment Management LLC now owns 2,830,620 shares of the insurance provider's stock worth $566,803,000 after acquiring an additional 82,681 shares in the last quarter. American Century Companies Inc. grew its position in Reinsurance Group of America by 15.9% during the 3rd quarter. American Century Companies Inc. now owns 2,369,057 shares of the insurance provider's stock worth $455,167,000 after purchasing an additional 324,239 shares in the last quarter. State Street Corp raised its stake in Reinsurance Group of America by 2.8% during the 3rd quarter. State Street Corp now owns 2,346,447 shares of the insurance provider's stock valued at $450,823,000 after purchasing an additional 64,296 shares during the period. AQR Capital Management LLC raised its stake in Reinsurance Group of America by 148.4% during the 4th quarter. AQR Capital Management LLC now owns 1,652,102 shares of the insurance provider's stock valued at $336,137,000 after purchasing an additional 987,014 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Reinsurance Group of America by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 1,341,364 shares of the insurance provider's stock valued at $272,966,000 after purchasing an additional 12,682 shares in the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

About Reinsurance Group of America

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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