Reinsurance Group of America, Incorporated (NYSE:RGA) Receives $218.73 Average PT from Brokerages

Shares of Reinsurance Group of America, Incorporated (NYSE:RGA) have received a consensus rating of “Moderate Buy” from the eleven brokerages that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $220.45.

Several analysts recently weighed in on the company. Citigroup lifted their price target on Reinsurance Group of America from $194.00 to $252.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Royal Bank of Canada upped their price target on shares of Reinsurance Group of America from $225.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. 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. Jefferies Financial Group increased their target price on shares of Reinsurance Group of America from $63.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Morgan Stanley lowered their target price on shares of Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th.

Reinsurance Group of America Price Performance

NYSE:RGA opened at $211.68 on Friday. The company has a market cap of $13.93 billion, a P/E ratio of 16.45 and a beta of 0.92. The firm’s fifty day moving average price is $209.35 and its two-hundred day moving average price is $197.03. Reinsurance Group of America has a one year low of $135.57 and a one year high of $227.87. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.17 and a quick ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, beating analysts’ consensus estimates of $4.94 by $0.54. The business had revenue of $4.88 billion for the quarter, compared to analyst estimates of $5.07 billion. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. Reinsurance Group of America’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.40 EPS. Equities analysts expect that Reinsurance Group of America will post 21.5 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Friday, August 9th. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 1.68%. Reinsurance Group of America’s dividend payout ratio is presently 27.66%.

Hedge Funds Weigh In On Reinsurance Group of America

Several hedge funds and other institutional investors have recently modified their holdings of RGA. Norges Bank acquired a new stake in Reinsurance Group of America in the fourth quarter valued at about $122,301,000. Junto Capital Management LP bought a new position in shares of Reinsurance Group of America in the fourth quarter worth about $92,083,000. Zurich Insurance Group Ltd FI boosted its stake in shares of Reinsurance Group of America by 681.8% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock valued at $104,244,000 after purchasing an additional 442,883 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Reinsurance Group of America during the 4th quarter valued at approximately $67,177,000. Finally, Corient Private Wealth LLC increased its position in Reinsurance Group of America by 1,965.4% during the 4th quarter. Corient Private Wealth LLC now owns 298,352 shares of the insurance provider’s stock worth $48,267,000 after purchasing an additional 283,907 shares in the last quarter. 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.