Reinsurance Group of America, Incorporated (NYSE:RGA) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Reinsurance Group of America, Incorporated (NYSE:RGA) has been assigned an average recommendation of “Moderate Buy” from the thirteen research firms that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $227.38.

A number of equities analysts have recently weighed in on RGA shares. Raymond James boosted their price objective on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the company a “strong-buy” rating in a research report on Tuesday, September 24th. Jefferies Financial Group upped their target price on Reinsurance Group of America from $63.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Morgan Stanley dropped their price target on shares of Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Keefe, Bruyette & Woods raised shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, Royal Bank of Canada increased their target price on Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday.

Reinsurance Group of America Trading Up 6.9 %

Shares of Reinsurance Group of America stock opened at $227.70 on Thursday. Reinsurance Group of America has a 1 year low of $153.79 and a 1 year high of $227.87. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.17. The business has a 50 day moving average price of $215.96 and a 200 day moving average price of $209.94. The company has a market capitalization of $15.00 billion, a P/E ratio of 20.91 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.31 by $0.82. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The business had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same period in the prior year, the business earned $5.57 earnings per share. The business’s revenue was up 9.7% on a year-over-year basis. Sell-side analysts anticipate that Reinsurance Group of America will post 21.74 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be issued a $0.89 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.56 dividend on an annualized basis and a yield of 1.56%. Reinsurance Group of America’s dividend payout ratio is currently 32.69%.

Insider Buying and Selling at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,209 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $218.97, for a total value of $264,734.73. Following the transaction, the executive vice president now owns 12,357 shares in the company, valued at approximately $2,705,812.29. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.37% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Reinsurance Group of America

Several institutional investors and hedge funds have recently made changes to their positions in RGA. WCM Investment Management LLC boosted its stake in Reinsurance Group of America by 1,208.5% during the 3rd quarter. WCM Investment Management LLC now owns 2,447,668 shares of the insurance provider’s stock valued at $527,742,000 after acquiring an additional 2,260,605 shares during the last quarter. Zurich Insurance Group Ltd FI grew its stake in Reinsurance Group of America by 681.8% in the second quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock worth $104,244,000 after purchasing an additional 442,883 shares in the last quarter. Millennium Management LLC increased its holdings in Reinsurance Group of America by 43.8% in the second quarter. Millennium Management LLC now owns 437,266 shares of the insurance provider’s stock valued at $89,758,000 after buying an additional 133,212 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in Reinsurance Group of America during the first quarter valued at approximately $24,918,000. Finally, Earnest Partners LLC lifted its holdings in 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 worth $497,226,000 after buying an additional 104,256 shares during the last quarter. 95.11% of the stock is currently owned by hedge funds and other 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.