Reinsurance Group of America (NYSE:RGA) Receives “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Reinsurance Group of America (NYSE:RGA) in a report published on Monday,Benzinga reports. The firm currently has a $245.00 target price on the insurance provider’s stock.

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

Reinsurance Group of America Stock Performance

Shares of RGA stock opened at $198.95 on Monday. The stock’s 50-day moving average price is $217.62 and its 200 day moving average price is $217.10. Reinsurance Group of America has a 52-week low of $165.38 and a 52-week high of $233.81. The stock has a market capitalization of $13.10 billion, a PE ratio of 18.52 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.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, February 6th. The insurance provider reported $4.99 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. As a group, equities research analysts forecast that Reinsurance Group of America will post 23.14 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $3.56 dividend on an annualized basis and a yield of 1.79%. Reinsurance Group of America’s dividend payout ratio (DPR) is 33.15%.

Hedge Funds Weigh In On Reinsurance Group of America

Large investors have recently modified their holdings of the stock. Armstrong Advisory Group Inc. bought a new position in Reinsurance Group of America during the 3rd quarter worth approximately $25,000. Wolff Wiese Magana LLC acquired a new stake in shares of Reinsurance Group of America during the 3rd quarter worth approximately $34,000. Private Trust Co. NA lifted its holdings in shares of Reinsurance Group of America by 333.3% in the 3rd quarter. Private Trust Co. NA now owns 156 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 120 shares during the last quarter. Strengthening Families & Communities LLC acquired a new position in Reinsurance Group of America during the 3rd quarter valued at approximately $36,000. Finally, Capital Performance Advisors LLP acquired a new stake in Reinsurance Group of America in the third quarter worth $37,000. Institutional investors own 95.11% of the company’s stock.

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.