Reinsurance Group of America (NYSE:RGA) Shares Gap Down on Disappointing Earnings

Reinsurance Group of America, Incorporated (NYSE:RGA) shares gapped down before the market opened on Friday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $230.49, but opened at $214.19. Reinsurance Group of America shares last traded at $214.62, with a volume of 308,741 shares trading hands.

The insurance provider reported $4.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.23). Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%.

Reinsurance Group of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 1.67%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 32.69%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Reinsurance Group of America from $227.00 to $232.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. 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 report on Monday, November 4th. Barclays cut their price target on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a report on Monday, January 6th. StockNews.com raised Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company lifted their price target on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $228.31.

Hedge Funds Weigh In On Reinsurance Group of America

A number of hedge funds have recently made changes to their positions in the stock. Eagle Asset Management Inc. raised its holdings in shares of Reinsurance Group of America by 15.7% during the third quarter. Eagle Asset Management Inc. now owns 112,901 shares of the insurance provider’s stock valued at $25,297,000 after purchasing an additional 15,289 shares during the period. Nordea Investment Management AB boosted its position in shares of Reinsurance Group of America by 4.8% during the fourth quarter. Nordea Investment Management AB now owns 89,837 shares of the insurance provider’s stock valued at $19,232,000 after buying an additional 4,119 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Reinsurance Group of America by 7.9% in the 3rd quarter. Franklin Resources Inc. now owns 77,516 shares of the insurance provider’s stock worth $16,862,000 after acquiring an additional 5,699 shares in the last quarter. Consolidated Planning Corp purchased a new stake in shares of Reinsurance Group of America during the third quarter valued at approximately $737,000. Finally, Park Avenue Securities LLC raised its position in Reinsurance Group of America by 21.2% in the fourth quarter. Park Avenue Securities LLC now owns 15,744 shares of the insurance provider’s stock worth $3,363,000 after acquiring an additional 2,759 shares during the period. 95.11% of the stock is currently owned by institutional investors.

Reinsurance Group of America Price Performance

The stock has a market cap of $14.02 billion, a PE ratio of 19.64 and a beta of 0.93. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.45. The business has a 50-day moving average price of $219.12 and a 200 day moving average price of $217.48.

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.