Reinsurance Group of America (NYSE:RGA) Receives Outperform Rating from Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Reinsurance Group of America (NYSE:RGA) in a research report released on Friday morning, Benzinga reports. They currently have a $225.00 target price on the insurance provider’s stock.

A number of other research firms have also recently commented on RGA. Evercore ISI lifted their target price on Reinsurance Group of America from $200.00 to $215.00 and gave the stock an outperform rating in a research note on Thursday, April 11th. Piper Sandler lifted 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 research report on Friday, April 5th. JPMorgan Chase & Co. boosted their target price on shares of Reinsurance Group of America from $189.00 to $195.00 and gave the company a neutral rating in a research note on Friday, May 3rd. Morgan Stanley raised their price target on shares of Reinsurance Group of America from $178.00 to $185.00 and gave the stock an equal weight rating in a research note on Monday, April 15th. Finally, Wells Fargo & Company upped their price objective on Reinsurance Group of America from $210.00 to $227.00 and gave the company an overweight rating in a research note on Friday, May 10th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $211.00.

Reinsurance Group of America Stock Up 0.9 %

Reinsurance Group of America stock opened at $203.85 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.19 and a current ratio of 0.19. The stock has a market cap of $13.41 billion, a PE ratio of 15.84 and a beta of 0.92. Reinsurance Group of America has a fifty-two week low of $135.07 and a fifty-two week high of $213.21. The firm’s 50-day simple moving average is $199.59 and its 200 day simple moving average is $182.36.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Friday, May 3rd. The insurance provider reported $6.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.55 by $1.47. The company had revenue of $6.34 billion during the quarter, compared to analyst estimates of $4.54 billion. Reinsurance Group of America had a return on equity of 15.94% and a net margin of 4.16%. During the same period in the prior year, the company posted $5.16 earnings per share. Research analysts predict that Reinsurance Group of America will post 20.66 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.67%. The ex-dividend date was Monday, May 13th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 26.42%.

Insider Buying and Selling

In other Reinsurance Group of America news, EVP John W. Hayden sold 1,767 shares of Reinsurance Group of America stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $206.85, for a total transaction of $365,503.95. Following the completion of the transaction, the executive vice president now owns 16,490 shares of the company’s stock, valued at approximately $3,410,956.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.37% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RGA. Mosaic Family Wealth Partners LLC increased its holdings in shares of Reinsurance Group of America by 8.1% in the first quarter. Mosaic Family Wealth Partners LLC now owns 21,830 shares of the insurance provider’s stock worth $4,210,000 after purchasing an additional 1,644 shares during the period. DekaBank Deutsche Girozentrale increased its stake in Reinsurance Group of America by 5.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 6,089 shares of the insurance provider’s stock worth $1,171,000 after acquiring an additional 292 shares during the last quarter. Cetera Advisors LLC increased its stake in Reinsurance Group of America by 85.2% in the 1st quarter. Cetera Advisors LLC now owns 4,147 shares of the insurance provider’s stock worth $800,000 after acquiring an additional 1,908 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of Reinsurance Group of America by 123.2% during the 1st quarter. Cetera Investment Advisers now owns 16,091 shares of the insurance provider’s stock valued at $3,103,000 after acquiring an additional 8,881 shares during the last quarter. Finally, Atria Investments Inc purchased a new position in shares of Reinsurance Group of America during the first quarter worth about $2,660,000. 95.11% of the stock is owned by institutional investors.

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.