Reinsurance Group of America, Incorporated Announces Quarterly Dividend of $0.85 (NYSE:RGA)

Reinsurance Group of America, Incorporated (NYSE:RGA) announced a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Shareholders of record on Tuesday, May 14th will be paid a dividend of 0.85 per share by the insurance provider on Tuesday, May 28th. This represents a $3.40 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Monday, May 13th.

Reinsurance Group of America has raised its dividend payment by an average of 5.6% annually over the last three years and has increased its dividend every year for the last 15 years. Reinsurance Group of America has a dividend payout ratio of 15.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Reinsurance Group of America to earn $21.16 per share next year, which means the company should continue to be able to cover its $3.40 annual dividend with an expected future payout ratio of 16.1%.

Reinsurance Group of America Price Performance

Shares of NYSE:RGA opened at $201.77 on Friday. The company’s fifty day moving average is $186.04 and its two-hundred day moving average is $170.47. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.48. Reinsurance Group of America has a 12-month low of $133.13 and a 12-month high of $202.06. The company has a market cap of $13.27 billion, a P/E ratio of 15.68 and a beta of 0.88.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $6.02 EPS for the quarter, beating the consensus estimate of $4.51 by $1.51. Reinsurance Group of America had a net margin of 4.16% and a return on equity of 16.49%. The business had revenue of $6.34 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same period in the previous year, the company posted $5.16 EPS. Equities analysts expect that Reinsurance Group of America will post 19.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Reinsurance Group of America

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,908 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $181.84, for a total transaction of $346,950.72. Following the completion of the sale, the executive vice president now directly owns 13,363 shares in the company, valued at $2,429,927.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Todd C. Larson sold 2,966 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $182.88, for a total value of $542,422.08. Following the completion of the sale, the chief financial officer now owns 49,549 shares in the company, valued at $9,061,521.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP William L. Hutton sold 1,908 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $181.84, for a total transaction of $346,950.72. Following the completion of the sale, the executive vice president now owns 13,363 shares of the company’s stock, valued at approximately $2,429,927.92. The disclosure for this sale can be found here. Insiders sold 6,462 shares of company stock worth $1,162,239 over the last ninety days. Company insiders own 1.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RGA. UBS Group boosted their price target on shares of Reinsurance Group of America from $198.00 to $223.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. upped their price objective on shares of Reinsurance Group of America from $189.00 to $195.00 and gave the stock a “neutral” rating in a report on Friday. Piper Sandler upped their price objective on shares of Reinsurance Group of America from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Evercore ISI upped their price objective on shares of Reinsurance Group of America from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Finally, Wells Fargo & Company upped their price objective on shares of Reinsurance Group of America from $193.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Reinsurance Group of America has an average rating of “Moderate Buy” and an average target price of $194.85.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated engages in reinsurance business. The company 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.