Reinsurance Group of America (NYSE:RGA) Downgraded to “Hold” at StockNews.com

StockNews.com cut shares of Reinsurance Group of America (NYSE:RGA) from a buy rating to a hold rating in a research note released on Thursday.

RGA has been the topic of several other reports. Wells Fargo & Company boosted their target price on Reinsurance Group of America from $236.00 to $239.00 and gave the company an overweight rating in a research note on Friday, August 9th. Royal Bank of Canada boosted their target price on Reinsurance Group of America from $225.00 to $235.00 and gave the company an outperform rating in a research note on Monday, August 5th. Raymond James boosted their target price on 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. Evercore ISI boosted their target price on Reinsurance Group of America from $225.00 to $241.00 and gave the company an outperform rating in a research note on Wednesday, June 26th. Finally, Piper Sandler boosted their target price on 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. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $223.33.

Reinsurance Group of America Stock Performance

Shares of Reinsurance Group of America stock opened at $212.24 on Thursday. The business’s fifty day simple moving average is $211.40 and its 200 day simple moving average is $200.59. The firm has a market capitalization of $13.98 billion, a P/E ratio of 16.49 and a beta of 0.91. Reinsurance Group of America has a 12 month low of $138.61 and a 12 month high of $227.87. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.52.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, topping analysts’ consensus estimates of $4.94 by $0.54. The business had revenue of $4.88 billion for the quarter, compared to analyst estimates of $5.07 billion. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. Reinsurance Group of America’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period last year, the company posted $4.40 earnings per share. As a group, analysts anticipate that Reinsurance Group of America will post 21.5 EPS for the current year.

Reinsurance Group of America Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.68%. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. The ex-dividend date was Friday, August 9th. Reinsurance Group of America’s payout ratio is presently 27.66%.

Hedge Funds Weigh In On Reinsurance Group of America

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RGA. International Assets Investment Management LLC grew its position in Reinsurance Group of America by 16,078.1% during the fourth quarter. International Assets Investment Management LLC now owns 22,164 shares of the insurance provider’s stock worth $3,586,000 after buying an additional 22,027 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in Reinsurance Group of America by 1,545.7% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 576 shares of the insurance provider’s stock worth $94,000 after buying an additional 541 shares in the last quarter. Axxcess Wealth Management LLC purchased a new position in Reinsurance Group of America during the fourth quarter worth about $218,000. Private Advisor Group LLC grew its position in Reinsurance Group of America by 2.2% during the fourth quarter. Private Advisor Group LLC now owns 4,246 shares of the insurance provider’s stock worth $687,000 after buying an additional 92 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Reinsurance Group of America by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 426,095 shares of the insurance provider’s stock worth $68,934,000 after buying an additional 5,972 shares in the last quarter. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

About Reinsurance Group of America

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.