Reinsurance Group of America’s (RGA) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Reinsurance Group of America (NYSE:RGA) in a research report sent to investors on Monday,Benzinga reports. Royal Bank of Canada currently has a $245.00 price objective on the insurance provider’s stock.

Several other equities research analysts have also issued reports on RGA. StockNews.com raised Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Barclays dropped their price target on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Piper Sandler decreased their price objective on shares of Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Reinsurance Group of America from $227.00 to $232.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $228.31.

Reinsurance Group of America Trading Down 3.7 %

Shares of RGA opened at $200.73 on Monday. Reinsurance Group of America has a twelve month low of $165.38 and a twelve month high of $233.81. The stock has a market cap of $13.22 billion, a PE ratio of 18.69 and a beta of 0.93. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.45. The business’s 50-day moving average price is $218.73 and its 200-day moving average price is $217.40.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, February 6th. The insurance provider reported $4.99 earnings per share for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.23). Reinsurance Group of America had a return on equity of 14.80% and a net margin of 3.24%. On average, equities analysts forecast that Reinsurance Group of America will post 23.14 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Tuesday, February 18th. Reinsurance Group of America’s dividend payout ratio is currently 33.15%.

Institutional Trading of Reinsurance Group of America

Several hedge funds have recently added to or reduced their stakes in RGA. Atomi Financial Group Inc. bought a new stake in Reinsurance Group of America in the third quarter valued at approximately $235,000. CWM LLC increased its stake in shares of Reinsurance Group of America by 65.1% in the third quarter. CWM LLC now owns 2,244 shares of the insurance provider’s stock worth $489,000 after buying an additional 885 shares during the period. Armstrong Advisory Group Inc. bought a new stake in Reinsurance Group of America during the 3rd quarter valued at $25,000. Willis Investment Counsel boosted its position in Reinsurance Group of America by 1.5% during the 3rd quarter. Willis Investment Counsel now owns 51,807 shares of the insurance provider’s stock valued at $11,287,000 after buying an additional 754 shares during the period. Finally, Creative Planning grew its holdings in Reinsurance Group of America by 3.1% in the 3rd quarter. Creative Planning now owns 10,370 shares of the insurance provider’s stock worth $2,259,000 after acquiring an additional 314 shares during the last quarter. 95.11% of the stock is owned by 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.