Reinsurance Group of America Inc (NYSE:RGA) Raises Dividend to $0.70 Per Share

Reinsurance Group of America Inc (NYSE:RGA) declared a quarterly dividend on Wednesday, October 30th, Zacks reports. Shareholders 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 yield of 1.67%. The ex-dividend date of this dividend is Friday, November 8th. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.60.

NYSE RGA traded up $2.98 during trading on Wednesday, hitting $168.15. 77,989 shares of the company’s stock were exchanged, compared to its average volume of 236,589. The company has a current ratio of 0.12, a quick ratio of 0.13 and a debt-to-equity ratio of 0.29. The company has a market cap of $10.34 billion, a PE ratio of 13.87 and a beta of 0.65. Reinsurance Group of America has a fifty-two week low of $129.17 and a fifty-two week high of $169.08. The stock’s 50 day moving average price is $158.22 and its two-hundred day moving average price is $153.99.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Wednesday, October 30th. The insurance provider reported $4.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.42 by $0.60. The firm had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.45 billion. Reinsurance Group of America had a return on equity of 8.49% and a net margin of 5.40%. The business’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.03 earnings per share. Analysts forecast that Reinsurance Group of America will post 13.63 earnings per share for the current fiscal year.

In related news, EVP William L. Hutton sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $158.15, for a total value of $237,225.00. Following the sale, the executive vice president now directly owns 16,239 shares in the company, valued at $2,568,197.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arnoud W.A. Boot sold 800 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $145.12, for a total value of $116,096.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,000 shares of company stock worth $1,271,243. Company insiders own 0.78% of the company’s stock.

Several research analysts have commented on the company. Citigroup boosted their target price on Reinsurance Group of America from $173.00 to $181.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Royal Bank of Canada set a $170.00 price target on Reinsurance Group of America and gave the stock a “buy” rating in a report on Wednesday, July 31st. UBS Group reduced their price target on Reinsurance Group of America from $156.00 to $154.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Morgan Stanley boosted their price target on Reinsurance Group of America from $144.00 to $146.00 and gave the stock an “underweight” rating in a report on Thursday, October 31st. Finally, Zacks Investment Research upgraded Reinsurance Group of America from a “sell” rating to a “hold” rating and set a $160.00 price target on the stock in a report on Friday, October 11th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Reinsurance Group of America has a consensus rating of “Hold” and an average price target of $162.20.

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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Dividend History for Reinsurance Group of America (NYSE:RGA)

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