Reinsurance Group of America, Incorporated (NYSE:RGA) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Reinsurance Group of America, Incorporated (NYSE:RGA) have been assigned a consensus recommendation of “Moderate Buy” from the eleven research firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $221.18.

A number of analysts have commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $225.00 price target on shares of Reinsurance Group of America in a research note on Friday, June 14th. Piper Sandler increased their price target on shares of Reinsurance Group of America from $228.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, June 28th. Raymond James increased their price target on shares of Reinsurance Group of America from $212.00 to $228.00 and gave the company a “strong-buy” rating in a research note on Friday, June 14th. Wells Fargo & Company raised their target price on shares of Reinsurance Group of America from $210.00 to $227.00 and gave the stock an “overweight” rating in a research note on Friday, May 10th. Finally, Jefferies Financial Group raised their target price on shares of Reinsurance Group of America from $240.00 to $247.00 and gave the stock a “buy” rating in a research note on Friday, June 28th.

Reinsurance Group of America Stock Performance

Shares of RGA opened at $205.82 on Friday. Reinsurance Group of America has a 12 month low of $135.07 and a 12 month high of $213.21. The firm has a fifty day simple moving average of $204.22 and a 200 day simple moving average of $185.67. The stock has a market capitalization of $13.54 billion, a price-to-earnings ratio of 15.99 and a beta of 0.92. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.46.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Friday, May 3rd. The insurance provider reported $6.02 EPS for the quarter, beating analysts’ consensus estimates of $4.55 by $1.47. The firm had revenue of $6.34 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Reinsurance Group of America had a net margin of 4.16% and a return on equity of 15.94%. During the same quarter last year, the company posted $5.16 earnings per share. Research analysts forecast that Reinsurance Group of America will post 20.94 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend was Monday, May 13th. Reinsurance Group of America’s dividend payout ratio is 26.42%.

Insider Buying and Selling

In related news, EVP John W. Hayden sold 1,767 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $206.85, for a total transaction of $365,503.95. Following the transaction, the executive vice president now directly owns 16,490 shares of the company’s stock, valued at $3,410,956.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Reinsurance Group of America

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Reinsurance Group of America by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 7,350,810 shares of the insurance provider’s stock valued at $1,067,264,000 after buying an additional 110,877 shares during the period. American Century Companies Inc. grew its holdings in shares of Reinsurance Group of America by 7.3% during the 3rd quarter. American Century Companies Inc. now owns 2,605,471 shares of the insurance provider’s stock valued at $378,288,000 after purchasing an additional 177,299 shares during the last quarter. Earnest Partners LLC grew its holdings in shares of Reinsurance Group of America by 4.2% during the 1st quarter. Earnest Partners LLC now owns 2,577,901 shares of the insurance provider’s stock valued at $497,226,000 after purchasing an additional 104,256 shares during the last quarter. Nuance Investments LLC grew its holdings in shares of Reinsurance Group of America by 14.7% during the 4th quarter. Nuance Investments LLC now owns 1,114,060 shares of the insurance provider’s stock valued at $180,233,000 after purchasing an additional 142,627 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Reinsurance Group of America by 5.7% during the 1st quarter. Sei Investments Co. now owns 780,010 shares of the insurance provider’s stock valued at $150,448,000 after purchasing an additional 42,135 shares during the last quarter. 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.