Reinsurance Group of America, Incorporated (NYSE:RGA) Declares Quarterly Dividend of $0.89

Reinsurance Group of America, Incorporated (NYSE:RGA) declared a quarterly dividend on Thursday, August 1st, Zacks reports. Investors of record on Tuesday, August 13th will be given a dividend of 0.89 per share by the insurance provider on Tuesday, August 27th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Tuesday, August 13th. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.85.

Reinsurance Group of America has raised its dividend payment by an average of 5.6% annually over the last three years and has increased its dividend annually for the last 15 consecutive years. Reinsurance Group of America has a dividend payout ratio of 15.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Reinsurance Group of America to earn $22.02 per share next year, which means the company should continue to be able to cover its $3.40 annual dividend with an expected future payout ratio of 15.4%.

Reinsurance Group of America Trading Down 7.5 %

Shares of NYSE RGA traded down $16.69 during midday trading on Friday, hitting $206.31. The company’s stock had a trading volume of 1,227,518 shares, compared to its average volume of 463,604. Reinsurance Group of America has a 12-month low of $135.07 and a 12-month high of $227.87. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.46. The firm has a market cap of $13.57 billion, a P/E ratio of 16.03 and a beta of 0.92. The business’s 50 day moving average is $209.78 and its two-hundred day moving average is $193.42.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, beating 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 16.23%. The firm had revenue of $4.88 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same period in the previous year, the firm earned $4.40 earnings per share. The business’s revenue was up 17.4% on a year-over-year basis. As a group, equities research analysts expect that Reinsurance Group of America will post 21.11 EPS for the current year.

Insider Buying and Selling at Reinsurance Group of America

In related news, EVP John W. Hayden sold 1,767 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $206.85, for a total transaction of $365,503.95. Following the transaction, the executive vice president now directly owns 16,490 shares in the company, valued at approximately $3,410,956.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.37% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on RGA shares. UBS Group lifted their price target on shares of Reinsurance Group of America from $223.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Morgan Stanley upped their target price on Reinsurance Group of America from $216.00 to $217.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 10th. Royal Bank of Canada restated an “outperform” rating and set a $225.00 price target on shares of Reinsurance Group of America in a research note on Friday, June 14th. Citigroup upped their price objective on shares of Reinsurance Group of America from $194.00 to $252.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Wells Fargo & Company raised their target price on shares of Reinsurance Group of America from $210.00 to $227.00 and gave the company an “overweight” rating in a research report on Friday, May 10th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $216.73.

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.