Reinsurance Group of America, Incorporated (NYSE:RGA) Receives Average Rating of “Moderate Buy” from Brokerages

Reinsurance Group of America, Incorporated (NYSE:RGA) has been assigned an average rating of “Moderate Buy” from the eleven analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $257.1111.

RGA has been the subject of several analyst reports. Wall Street Zen raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Piper Sandler cut their price objective on shares of Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. UBS Group upgraded shares of Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. TD Cowen increased their target price on shares of Reinsurance Group of America from $212.00 to $235.00 and gave the company a “hold” rating in a research report on Wednesday, July 22nd. Finally, Wells Fargo & Company raised their target price on shares of Reinsurance Group of America from $261.00 to $269.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th.

Reinsurance Group of America Trading Down 0.1%

RGA opened at $249.19 on Wednesday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.41. The firm has a market cap of $16.27 billion, a price-to-earnings ratio of 10.94 and a beta of 0.47. Reinsurance Group of America has a 12 month low of $178.21 and a 12 month high of $251.00. The stock has a fifty day moving average price of $227.11 and a 200-day moving average price of $215.45.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, August 6th. The insurance provider reported $8.89 earnings per share for the quarter, beating analysts’ consensus estimates of $6.50 by $2.39. Reinsurance Group of America had a return on equity of 14.78% and a net margin of 5.81%.The company had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.67 billion. During the same quarter last year, the company earned $4.72 earnings per share. The firm’s revenue for the quarter was up 18.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Reinsurance Group of America will post 28.26 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be issued a dividend of $0.98 per share. The ex-dividend date is Tuesday, August 18th. This represents a $3.92 annualized dividend and a dividend yield of 1.6%. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.93. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 16.34%.

Insiders Place Their Bets

In related news, EVP John W. Hayden sold 414 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total transaction of $88,989.30. Following the transaction, the executive vice president directly owned 20,949 shares in the company, valued at $4,502,987.55. The trade was a 1.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Reinsurance Group of America

Several hedge funds have recently modified their holdings of RGA. WCM Investment Management LLC grew its position in Reinsurance Group of America by 3.0% during the 1st quarter. WCM Investment Management LLC now owns 2,830,620 shares of the insurance provider’s stock worth $566,803,000 after purchasing an additional 82,681 shares during the last quarter. State Street Corp lifted its stake in shares of Reinsurance Group of America by 2.8% during the third quarter. State Street Corp now owns 2,346,447 shares of the insurance provider’s stock worth $450,823,000 after buying an additional 64,296 shares during the period. AQR Capital Management LLC grew its holdings in shares of Reinsurance Group of America by 148.4% during the fourth quarter. AQR Capital Management LLC now owns 1,652,102 shares of the insurance provider’s stock valued at $336,137,000 after buying an additional 987,014 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Reinsurance Group of America by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 1,341,364 shares of the insurance provider’s stock valued at $272,966,000 after buying an additional 12,682 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Reinsurance Group of America by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,114,998 shares of the insurance provider’s stock worth $227,624,000 after acquiring an additional 15,372 shares during the last quarter. Institutional investors and hedge funds own 95.11% of the company’s stock.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.