Reinsurance Group of America (NYSE:RGA) EVP Sells $1,474,060.00 in Stock

Key Points

• RGA EVP Ronald Herrmann sold 7,000 shares on May 14 at an average price of $210.58, totaling about $1.47 million. After the sale, he held 3,938 shares, a 64% reduction in his ownership stake.
• The company posted stronger-than-expected quarterly results, with earnings of $6.97 per share versus the $6.03 consensus estimate and revenue of $6.49 billion, up 23.5% from a year ago.
• RGA also announced a quarterly dividend of $0.93 per share, payable June 2, implying an annualized payout of $3.72 and a yield of about 1.7%.

Reinsurance Group of America, Incorporated (NYSE:RGA - Get Free Report) EVP Ronald Herrmann sold 7,000 shares of the business's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $210.58, for a total transaction of $1,474,060.00. Following the completion of the sale, the executive vice president directly owned 3,938 shares of the company's stock, valued at $829,264.04. This represents a 64.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Reinsurance Group of America Stock Up 2.3%

RGA stock traded up $4.91 during trading hours on Monday, hitting $215.06. The company's stock had a trading volume of 341,313 shares, compared to its average volume of 376,951. 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 company has a market capitalization of $14.09 billion, a PE ratio of 11.65 and a beta of 0.50. Reinsurance Group of America, Incorporated has a 12 month low of $165.52 and a 12 month high of $229.21. The stock has a 50 day moving average price of $207.02 and a two-hundred day moving average price of $203.04.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its earnings results on Thursday, May 7th. The insurance provider reported $6.97 EPS for the quarter, topping the consensus estimate of $6.03 by $0.94. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.47 billion. Reinsurance Group of America had a net margin of 4.92% and a return on equity of 13.16%. The company's revenue for the quarter was up 23.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.66 earnings per share. On average, equities research analysts expect that Reinsurance Group of America, Incorporated will post 26.39 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Reinsurance Group of America from $264.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, May 7th. Wells Fargo & Company boosted their price objective on shares of Reinsurance Group of America from $238.00 to $261.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 25th. Weiss Ratings restated a "buy (b)" rating on shares of Reinsurance Group of America in a research note on Wednesday. Barclays boosted their price objective on shares of Reinsurance Group of America from $256.00 to $268.00 and gave the stock an "overweight" rating in a research note on Friday, May 8th. Finally, Wall Street Zen upgraded shares of Reinsurance Group of America from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $251.25.

Hedge Funds Weigh In On Reinsurance Group of America

Several large investors have recently bought and sold shares of RGA. 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 last quarter. Norges Bank acquired a new position in Reinsurance Group of America during the 4th quarter valued at $173,767,000. Orion Porfolio Solutions LLC raised its stake in Reinsurance Group of America by 6,076.4% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 602,503 shares of the insurance provider's stock valued at $119,512,000 after purchasing an additional 592,748 shares during the last quarter. SEB Asset Management AB acquired a new position in Reinsurance Group of America during the 1st quarter valued at $81,533,000. Finally, Adage Capital Partners GP L.L.C. acquired a new position in Reinsurance Group of America during the 2nd quarter valued at $69,426,000. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Reinsurance Group of America Company Profile

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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