Reinsurance Group of America Inc Announces Special Dividend of $0.70 (NYSE:RGA)

Reinsurance Group of America Inc (NYSE:RGA) announced a special dividend on Monday, July 29th, RTT News reports. Stockholders of record on Thursday, August 8th will be given a dividend of 0.70 per share by the insurance provider on Thursday, August 29th. The ex-dividend date of this dividend is Wednesday, August 7th.

Reinsurance Group of America has increased its dividend by an average of 16.3% annually over the last three years and has raised its dividend every year for the last 8 years. Reinsurance Group of America has a payout ratio of 24.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Reinsurance Group of America to earn $14.13 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 19.8%.

Shares of RGA stock traded up $1.20 on Wednesday, reaching $149.10. 295,500 shares of the stock were exchanged, compared to its average volume of 304,002. Reinsurance Group of America has a 1-year low of $127.84 and a 1-year high of $163.46. The stock has a market cap of $9.33 billion, a P/E ratio of 12.30 and a beta of 0.67. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.32. The firm has a 50 day moving average of $154.44 and a two-hundred day moving average of $149.28.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Monday, July 29th. The insurance provider reported $3.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.37 by ($0.06). Reinsurance Group of America had a net margin of 5.85% and a return on equity of 9.19%. The company had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.44 billion. During the same quarter in the prior year, the company posted $3.10 earnings per share. On average, equities research analysts predict that Reinsurance Group of America will post 13.03 EPS for the current fiscal year.

Several analysts have recently weighed in on the company. ValuEngine downgraded Reinsurance Group of America from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Morgan Stanley raised their target price on Reinsurance Group of America from $142.00 to $144.00 and gave the company an “underweight” rating in a research note on Wednesday, July 10th. Finally, Royal Bank of Canada set a $170.00 target price on Reinsurance Group of America and gave the company a “buy” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. Reinsurance Group of America has a consensus rating of “Hold” and an average price target of $156.00.

In other Reinsurance Group of America news, Director Arnoud W.A. Boot sold 800 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $145.12, for a total value of $116,096.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John P. Laughlin, Jr. sold 3,000 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $156.81, for a total transaction of $470,430.00. Following the completion of the transaction, the executive vice president now directly owns 35,097 shares in the company, valued at approximately $5,503,560.57. The disclosure for this sale can be found here. Company insiders own 0.78% of the company’s stock.

About Reinsurance Group of America

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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