Reinsurance Group of America (NYSE:RGA) Earns “Outperform” Rating from 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 Friday, Benzinga reports. Royal Bank of Canada currently has a $225.00 target price on the insurance provider’s stock.

Other research analysts have also recently issued research reports about the stock. Wells Fargo & Company lifted their price objective on shares of Reinsurance Group of America from $210.00 to $227.00 and gave the company an overweight rating in a report on Friday, May 10th. Morgan Stanley increased their price target on Reinsurance Group of America from $178.00 to $185.00 and gave the stock an equal weight rating in a research report on Monday, April 15th. UBS Group boosted their price objective on Reinsurance Group of America from $223.00 to $240.00 and gave the company a buy rating in a research report on Thursday, May 30th. Keefe, Bruyette & Woods increased their target price on Reinsurance Group of America from $220.00 to $235.00 and gave the company an outperform rating in a research report on Tuesday, May 7th. Finally, Piper Sandler boosted their price target on shares of Reinsurance Group of America from $195.00 to $220.00 and gave the stock an overweight rating in a report on Friday, April 5th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $211.00.

Reinsurance Group of America Stock Performance

NYSE RGA opened at $202.01 on Friday. The firm has a market capitalization of $13.29 billion, a P/E ratio of 15.70 and a beta of 0.92. The stock has a 50-day simple moving average of $199.41 and a two-hundred day simple moving average of $182.07. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.19 and a current ratio of 0.19. Reinsurance Group of America has a fifty-two week low of $135.07 and a fifty-two week high of $213.21.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Friday, May 3rd. The insurance provider reported $6.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.55 by $1.47. The company had revenue of $6.34 billion during the quarter, compared to the consensus estimate of $4.54 billion. Reinsurance Group of America had a return on equity of 15.94% and a net margin of 4.16%. During the same period in the previous year, the company posted $5.16 earnings per share. On average, equities analysts forecast that Reinsurance Group of America will post 20.66 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Monday, May 13th. Reinsurance Group of America’s dividend payout ratio (DPR) is 26.42%.

Insider Buying and Selling

In other news, EVP John W. Hayden sold 1,767 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $206.85, for a total value of $365,503.95. Following the completion of the sale, the executive vice president now directly owns 16,490 shares in the company, valued at $3,410,956.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.37% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Mosaic Family Wealth Partners LLC boosted its holdings in Reinsurance Group of America by 8.1% in the 1st quarter. Mosaic Family Wealth Partners LLC now owns 21,830 shares of the insurance provider’s stock valued at $4,210,000 after purchasing an additional 1,644 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in Reinsurance Group of America by 5.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 6,089 shares of the insurance provider’s stock valued at $1,171,000 after acquiring an additional 292 shares during the last quarter. Cetera Advisors LLC grew its position in Reinsurance Group of America by 85.2% in the first quarter. Cetera Advisors LLC now owns 4,147 shares of the insurance provider’s stock worth $800,000 after acquiring an additional 1,908 shares during the period. Cetera Investment Advisers grew its position in Reinsurance Group of America by 123.2% in the first quarter. Cetera Investment Advisers now owns 16,091 shares of the insurance provider’s stock worth $3,103,000 after acquiring an additional 8,881 shares during the period. Finally, Atria Investments Inc acquired a new stake in Reinsurance Group of America during the first quarter worth $2,660,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

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.