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 earned a consensus rating of “Moderate Buy” from the thirteen brokerages that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $227.38.

RGA has been the subject of a number of analyst reports. Barclays decreased their price target on Reinsurance Group of America from $255.00 to $250.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. Jefferies Financial Group raised their price target 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. Royal Bank of Canada raised their price target on Reinsurance Group of America from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday. StockNews.com upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Finally, Raymond James raised their price target on Reinsurance Group of America from $228.00 to $250.00 and gave the company a “strong-buy” rating in a research note on Tuesday, September 24th.

Reinsurance Group of America Stock Down 1.7 %

NYSE:RGA opened at $211.55 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.17 and a current ratio of 0.17. The company has a market cap of $13.93 billion, a PE ratio of 19.43 and a beta of 0.92. Reinsurance Group of America has a 52-week low of $151.90 and a 52-week high of $227.87. The stock has a 50-day simple moving average of $215.74 and a 200 day simple moving average of $209.63.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.31 by $0.82. The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.29 billion. Reinsurance Group of America had a return on equity of 15.68% and a net margin of 3.32%. Reinsurance Group of America’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the company earned $5.57 earnings per share. On average, sell-side analysts expect that Reinsurance Group of America will post 21.8 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be issued a dividend of $0.89 per share. The ex-dividend date is Tuesday, November 12th. This represents a $3.56 annualized dividend and a yield of 1.68%. Reinsurance Group of America’s payout ratio is currently 32.69%.

Insider Buying and Selling

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

Institutional Trading of Reinsurance Group of America

Hedge funds have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. acquired a new stake in Reinsurance Group of America during the 1st quarter worth approximately $675,000. Price T Rowe Associates Inc. MD raised its holdings in Reinsurance Group of America by 22.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 143,178 shares of the insurance provider’s stock valued at $27,617,000 after acquiring an additional 26,306 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Reinsurance Group of America by 50.9% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,486 shares of the insurance provider’s stock valued at $1,459,000 after acquiring an additional 2,524 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Reinsurance Group of America by 57.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 232,773 shares of the insurance provider’s stock valued at $44,897,000 after acquiring an additional 84,647 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in Reinsurance Group of America by 5.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 67,400 shares of the insurance provider’s stock valued at $13,000,000 after acquiring an additional 3,247 shares in the last quarter. 95.11% of the stock is 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.