$4.07 Billion in Sales Expected for Reinsurance Group of America, Incorporated (NYSE:RGA) This Quarter

Brokerages expect Reinsurance Group of America, Incorporated (NYSE:RGA – Get Rating) to announce $4.07 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Reinsurance Group of America’s earnings. The highest sales estimate is $4.15 billion and the lowest is $3.90 billion. Reinsurance Group of America posted sales of $4.03 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 1%. The business is expected to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Reinsurance Group of America will report full year sales of $16.55 billion for the current fiscal year, with estimates ranging from $16.03 billion to $16.87 billion. For the next fiscal year, analysts forecast that the business will report sales of $17.33 billion, with estimates ranging from $16.72 billion to $17.73 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Reinsurance Group of America.

Reinsurance Group of America (NYSE:RGA – Get Rating) last issued its earnings results on Thursday, May 5th. The insurance provider reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $1.02. Reinsurance Group of America had a return on equity of 1.59% and a net margin of 2.52%. The firm had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the previous year, the firm posted ($1.24) earnings per share. The business’s revenue was down 4.6% compared to the same quarter last year.

RGA has been the topic of several analyst reports. Credit Suisse Group boosted their price objective on 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. StockNews.com cut Reinsurance Group of America from a “buy” rating to a “hold” rating in a research note on Saturday. Wolfe Research began coverage on Reinsurance Group of America in a research note on Friday, January 21st. They set an “underperform” rating and a $100.00 price objective on the stock. Zacks Investment Research raised Reinsurance Group of America from a “strong sell” rating to a “hold” rating and set a $116.00 target price on the stock in a research note on Wednesday, April 6th. Finally, TheStreet cut Reinsurance Group of America from a “b-” rating to a “c” rating in a research note on Thursday, May 5th. Three 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $122.10.

NYSE RGA traded up $3.61 during trading hours on Monday, hitting $117.91. 330,997 shares of the company were exchanged, compared to its average volume of 364,189. The stock has a 50-day moving average price of $109.54 and a 200 day moving average price of $110.05. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.40. Reinsurance Group of America has a 52 week low of $94.32 and a 52 week high of $129.63. The stock has a market cap of $7.90 billion, a PE ratio of 19.43 and a beta of 1.10.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 31st. Investors of record on Tuesday, May 17th will be issued a $0.73 dividend. The ex-dividend date is Monday, May 16th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.48%. Reinsurance Group of America’s payout ratio is 48.11%.

In related news, Director Christine Rose Detrick sold 4,300 shares of the business’s stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $113.34, for a total value of $487,362.00. Following the completion of the sale, the director now owns 1,618 shares in the company, valued at $183,384.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.55% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC purchased a new stake in shares of Reinsurance Group of America in the first quarter valued at approximately $6,305,000. Charles Schwab Investment Management Inc. lifted its holdings in Reinsurance Group of America by 3.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 411,643 shares of the insurance provider’s stock worth $45,059,000 after buying an additional 14,883 shares during the period. Robeco Schweiz AG purchased a new stake in Reinsurance Group of America during the first quarter worth $13,990,000. Mariner LLC purchased a new stake in Reinsurance Group of America during the first quarter worth $1,145,000. Finally, Employees Retirement System of Texas purchased a new stake in Reinsurance Group of America during the first quarter worth $6,611,000. Hedge funds and other institutional investors own 96.37% of the company’s stock.

Reinsurance Group of America Company Profile (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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