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

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

RGA has been the subject of several other research reports. Raymond James increased their price objective on Reinsurance Group of America from $228.00 to $250.00 and gave the company a strong-buy rating in a report on Tuesday, September 24th. TD Cowen started coverage on Reinsurance Group of America in a report on Wednesday. They issued a hold rating and a $235.00 price target for the company. Jefferies Financial Group boosted their price target on Reinsurance Group of America from $63.00 to $64.00 and gave the stock a buy rating in a research note on Wednesday, July 10th. Morgan Stanley decreased their price objective 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. Finally, Piper Sandler boosted their target price on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the stock an overweight rating in a research report on Wednesday, October 2nd. Four 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $226.23.

Reinsurance Group of America Price Performance

Shares of RGA stock opened at $216.48 on Wednesday. The stock’s 50-day moving average is $212.77 and its 200 day moving average is $206.26. Reinsurance Group of America has a 1-year low of $143.96 and a 1-year high of $227.87. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.17 and a quick ratio of 0.17. The company has a market cap of $14.26 billion, a P/E ratio of 16.82 and a beta of 0.91.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.94 by $0.54. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The firm had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $5.07 billion. During the same quarter in the previous year, the firm earned $4.40 EPS. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. Research analysts predict that Reinsurance Group of America will post 21.7 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a $0.89 dividend. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.64%. Reinsurance Group of America’s dividend payout ratio is presently 27.66%.

Insider Activity at Reinsurance Group of America

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total value of $264,734.73. Following the sale, the executive vice president now owns 12,357 shares in the company, valued at approximately $2,705,812.29. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.37% of the stock is owned by company insiders.

Hedge Funds Weigh In On Reinsurance Group of America

Several large investors have recently made changes to their positions in the company. Pineridge Advisors LLC acquired a new position in shares of Reinsurance Group of America in the fourth quarter worth about $26,000. New Covenant Trust Company N.A. purchased a new position in Reinsurance Group of America during the first quarter worth approximately $28,000. International Assets Investment Management LLC purchased a new position in Reinsurance Group of America during the second quarter worth approximately $28,000. Rise Advisors LLC purchased a new stake in shares of Reinsurance Group of America in the first quarter valued at approximately $29,000. Finally, Family Firm Inc. purchased a new stake in shares of Reinsurance Group of America in the second quarter valued at approximately $29,000. 95.11% of the stock is currently owned by institutional investors and hedge funds.

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.