Reinsurance Group of America, Incorporated (NYSE:RGA) Receives $223.33 Average PT from Brokerages

Reinsurance Group of America, Incorporated (NYSE:RGA) has earned a consensus rating of “Moderate Buy” from the twelve brokerages that are covering the stock, MarketBeat.com reports. Two 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 on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $223.33.

A number of equities analysts have commented on RGA shares. Piper Sandler lifted their price objective on shares of Reinsurance Group of America from $228.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, June 28th. Royal Bank of Canada lifted their price objective on shares of Reinsurance Group of America from $225.00 to $235.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Wells Fargo & Company lifted their price objective on shares of Reinsurance Group of America from $236.00 to $239.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Evercore ISI lifted their price objective on shares of Reinsurance Group of America from $225.00 to $241.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 26th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Reinsurance Group of America from $208.00 to $220.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd.

Reinsurance Group of America Stock Performance

RGA opened at $216.75 on Wednesday. The stock has a market capitalization of $14.28 billion, a price-to-earnings ratio of 16.84 and a beta of 0.91. The company has a fifty day moving average of $212.53 and a 200 day moving average of $202.70. Reinsurance Group of America has a fifty-two week low of $140.39 and a fifty-two week high of $227.87. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.17 and a current ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 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 business had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $5.07 billion. During the same period last year, the company posted $4.40 EPS. The business’s revenue was up 17.4% on a year-over-year basis. As a group, sell-side analysts forecast that Reinsurance Group of America will post 21.5 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were given a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.64%. 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 27.66%.

Institutional Investors Weigh In On Reinsurance Group of America

Large investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new stake in Reinsurance Group of America in the 2nd quarter valued at about $28,000. Family Firm Inc. purchased a new stake in Reinsurance Group of America in the 2nd quarter valued at about $29,000. New Covenant Trust Company N.A. purchased a new stake in Reinsurance Group of America in the 1st quarter valued at about $28,000. Rise Advisors LLC purchased a new stake in Reinsurance Group of America in the 1st quarter valued at about $29,000. Finally, LRI Investments LLC purchased a new stake in Reinsurance Group of America in the 1st quarter valued at about $33,000. 95.11% of the stock is 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.