Reinsurance Group of America, Incorporated (NYSE:RGA – Get Rating) declared a quarterly dividend on Tuesday, May 3rd, Zacks reports. Stockholders of record on Tuesday, May 17th will be paid a dividend of 0.73 per share by the insurance provider on Tuesday, May 31st. This represents a $2.92 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Monday, May 16th.
Reinsurance Group of America has raised its dividend by an average of 9.1% per year over the last three years and has increased its dividend every year for the last 12 years. Reinsurance Group of America has a payout ratio of 19.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Reinsurance Group of America to earn $15.25 per share next year, which means the company should continue to be able to cover its $2.92 annual dividend with an expected future payout ratio of 19.1%.
RGA stock opened at $117.91 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.13 and a current ratio of 0.13. The company’s 50-day simple moving average is $109.54 and its 200 day simple moving average is $110.11. Reinsurance Group of America has a 52 week low of $94.32 and a 52 week high of $129.63. The company has a market capitalization of $7.90 billion, a PE ratio of 19.43 and a beta of 1.10.
A number of brokerages have issued reports on RGA. StockNews.com downgraded shares of Reinsurance Group of America from a “buy” rating to a “hold” rating in a research note on Saturday. Credit Suisse Group increased their price objective on shares of Reinsurance Group of America from $76.00 to $80.00 and gave the stock an “underperform” rating in a research note on Thursday, March 3rd. Zacks Investment Research upgraded shares of Reinsurance Group of America from a “strong sell” rating to a “hold” rating and set a $116.00 price objective on the stock in a research note on Wednesday, April 6th. Morgan Stanley reduced their price target on shares of Reinsurance Group of America from $125.00 to $123.00 and set an “underweight” rating on the stock in a research note on Friday, February 4th. Finally, Jefferies Financial Group initiated coverage on shares of Reinsurance Group of America in a research note on Tuesday, January 25th. They issued a “buy” rating and a $130.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $122.10.
In other Reinsurance Group of America news, Director Christine Rose Detrick sold 4,300 shares of the firm’s stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $113.34, for a total transaction of $487,362.00. Following the completion of the transaction, the director now owns 1,618 shares in the company, valued at approximately $183,384.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.55% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in shares of Reinsurance Group of America by 5.5% during the 4th quarter. BlackRock Inc. now owns 6,383,743 shares of the insurance provider’s stock worth $698,957,000 after buying an additional 333,803 shares during the period. Goldman Sachs Group Inc. grew its position in Reinsurance Group of America by 28.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 640,922 shares of the insurance provider’s stock valued at $70,174,000 after purchasing an additional 141,889 shares during the period. Robeco Schweiz AG acquired a new stake in Reinsurance Group of America in the 1st quarter valued at $13,990,000. Employees Retirement System of Texas acquired a new stake in Reinsurance Group of America in the 1st quarter valued at $6,611,000. Finally, Renaissance Technologies LLC acquired a new stake in Reinsurance Group of America in the 1st quarter valued at $6,305,000. Hedge funds and other institutional investors own 96.37% of the company’s stock.
About Reinsurance Group of America (Get Rating)
Reinsurance Group of America, Incorporated engages in reinsurance business. It 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.
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