Dallas, Texas 07/22/2013 (Financialstrend) – The component of Russell 3000 Index, Reinsurance Group of America Inc (NYSE:RGA) had recently been identified to have recorded market capitalization which is higher than that of the smaller end stocks which are components of S&P 500 index. With the recently announced results for the second quarter of fiscal year 2013, the stock had moved off from its higher levels to decline suddenly to lower prices on Friday. At the conference call for the second quarter earnings, the company had announced that there would be an increase in dividend payments to the shareholders by 25% and that there would be an additional allocation of $100 million to provide for the authorization of share buyback of the company.
However, the Chief Executive Officer of the Reinsurance Group of America had also announced that the company was highly disappointed with the operations of the group business in Australia. The second quarter earnings results for RGA had not been highly encouraging to the investors which had resulted in steep decline in the share prices with the market open on Friday. There had not been much bright prospects for the company in the recent quarter, which had sent the investors to shed off their risks in this stock.
The stock had decreased by 7.30% to close at $67.95 on Friday, after the opening price at $67.51 per share. Reinsurance Group of America Inc (NYSE:RGA) had throughout the trading session moved between $65.66 and $68.08 per share and presently has 52 week lowest price at $48.36 and 52 week highest price at $73.32 per share. The market cap of the stock is at $4.82 billion with 70.97 million shares outstanding and 95% institutional ownership of capital. The trading volume on Friday was at 2.52 million shares on the stock and the average level is at 529,388.00 shares per day.