Reinsurance Group of America (NYSE:RGA) Issues Earnings Results

Reinsurance Group of America (NYSE:RGA) issued its earnings results on Thursday. The insurance provider reported $5.48 earnings per share for the quarter, topping analysts’ consensus estimates of $4.94 by $0.54, Briefing.com reports. The firm had revenue of $4.88 billion during the quarter, compared to analyst estimates of $5.07 billion. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 16.23%. The company’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the business earned $4.40 earnings per share.

Reinsurance Group of America Price Performance

Shares of RGA stock traded down $16.69 during trading hours on Friday, hitting $206.31. 1,227,518 shares of the company’s stock were exchanged, compared to its average volume of 463,604. The company has a market capitalization of $13.57 billion, a PE ratio of 16.03 and a beta of 0.92. Reinsurance Group of America has a 12-month low of $135.07 and a 12-month high of $227.87. The business’s 50 day simple moving average is $209.78 and its 200-day simple moving average is $193.59. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Tuesday, August 13th. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 1.73%. Reinsurance Group of America’s dividend payout ratio (DPR) is 26.42%.

Insiders Place Their Bets

In other Reinsurance Group of America news, EVP John W. Hayden sold 1,767 shares of Reinsurance Group of America stock in a transaction that occurred on 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 Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RGA. Royal Bank of Canada reiterated an “outperform” rating and set a $225.00 target price on shares of Reinsurance Group of America in a research report on Friday, June 14th. Piper Sandler raised their price objective on shares of Reinsurance Group of America from $228.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, June 28th. Wells Fargo & Company raised their price objective on shares of Reinsurance Group of America from $210.00 to $227.00 and gave the company an “overweight” rating in a research report on Friday, May 10th. JPMorgan Chase & Co. raised their price objective on shares of Reinsurance Group of America from $208.00 to $220.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Jefferies Financial Group raised their price objective on shares of Reinsurance Group of America from $63.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $216.73.

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.