Reinsurance Group of America (NYSE:RGA) Posts Earnings Results, Beats Estimates By $1.52 EPS

Reinsurance Group of America (NYSE:RGA) announced its quarterly earnings data on Thursday. The insurance provider reported $8.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.97 by $1.52, FiscalAI reports. The company had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $6.69 billion. Reinsurance Group of America had a net margin of 5.81% and a return on equity of 14.78%. During the same quarter in the prior year, the company posted $6.37 EPS.

Reinsurance Group of America Stock Down 1.8%

Shares of NYSE:RGA opened at $261.74 on Friday. The company’s fifty day moving average is $254.85 and its 200-day moving average is $225.99. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.14 and a current ratio of 0.14. Reinsurance Group of America has a 52 week low of $182.73 and a 52 week high of $272.44. The company has a market capitalization of $17.09 billion, a PE ratio of 11.49 and a beta of 0.43.

Reinsurance Group of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, November 17th will be paid a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Tuesday, November 17th. Reinsurance Group of America’s payout ratio is currently 17.22%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. UBS Group raised shares of Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. Wells Fargo & Company raised their price target on shares of Reinsurance Group of America from $291.00 to $292.00 and gave the stock an “overweight” rating in a research note on Monday, October 12th. TD Cowen lifted their price objective on Reinsurance Group of America from $235.00 to $250.00 and gave the company a “hold” rating in a report on Wednesday, October 21st. JPMorgan Chase & Co. upped their price objective on Reinsurance Group of America from $293.00 to $297.00 and gave the company an “overweight” rating in a research note on Thursday, October 15th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Reinsurance Group of America in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Reinsurance Group of America currently has a consensus rating of “Buy” and an average price target of $273.75.

Reinsurance Group of America News Roundup

Here are the key news stories impacting Reinsurance Group of America this week:

• Positive Sentiment: RGA earned $8.49 per share, beating the approximately $6.97 consensus and rising from $6.37 a year earlier. Revenue of $7.55 billion also exceeded the $6.69 billion estimate. The earnings beat was partly fueled by pension-transfer business. Article: Reinsurance Group Tops Q3 Earnings and Revenue Estimates
• Positive Sentiment: The company declared a $0.98 dividend, supporting shareholder income. Article: Reinsurance Group of America declares $0.98 dividend
• Neutral Sentiment: Despite the upbeat results and dividend news, RGA shares have moved lower. The articles provided do not point to a specific reason for the decline. Article: Reinsurance Group of America Announces Third Quarter Results

Insider Activity

In related news, EVP Jonathan Porter sold 8,589 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $246.30, for a total transaction of $2,115,470.70. Following the completion of the sale, the executive vice president owned 14,885 shares in the company, valued at $3,666,175.50. This trade represents a 36.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.60% of the stock is owned by company insiders.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (NYSE:RGA) is a global provider of life and health reinsurance. The company works with insurance carriers to help them manage mortality, longevity, morbidity and other insurance risks, while supporting the development and distribution of life and health insurance products.

RGA’s offerings include traditional life reinsurance, including term, whole life and universal life coverage, as well as health reinsurance and financial solutions. Its financial solutions business provides capital management, asset-intensive reinsurance, longevity and other risk-management arrangements designed to help insurers manage their balance sheets and meet changing customer and regulatory needs.

Founded in 1973 as part of General American Life Insurance Company, RGA became an independent public company in 1993.