Reinsurance Group of America (NYSE:RGA) Releases Quarterly Earnings Results, Beats Expectations By $1.89 EPS

Reinsurance Group of America (NYSE:RGA) announced its quarterly earnings data on Thursday. The insurance provider reported $7.75 EPS for the quarter, beating analysts’ consensus estimates of $5.86 by $1.89, FiscalAI reports. Reinsurance Group of America had a net margin of 3.89% and a return on equity of 12.19%.

Reinsurance Group of America Trading Up 0.3%

NYSE:RGA traded up $0.69 on Thursday, hitting $205.77. 655,790 shares of the stock were exchanged, compared to its average volume of 384,216. Reinsurance Group of America has a 52 week low of $159.25 and a 52 week high of $231.92. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.13 and a current ratio of 0.13. The stock has a market capitalization of $13.52 billion, a price-to-earnings ratio of 15.83 and a beta of 0.53. The company’s 50-day moving average price is $199.56 and its 200 day moving average price is $193.40.

Hedge Funds Weigh In On Reinsurance Group of America

Hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its stake in Reinsurance Group of America by 44.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 221,198 shares of the insurance provider’s stock worth $43,554,000 after purchasing an additional 67,880 shares in the last quarter. Focus Partners Wealth increased its position in shares of Reinsurance Group of America by 121.2% during the 1st quarter. Focus Partners Wealth now owns 2,676 shares of the insurance provider’s stock worth $527,000 after purchasing an additional 1,466 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Reinsurance Group of America by 17.6% during the first quarter. Geneos Wealth Management Inc. now owns 388 shares of the insurance provider’s stock worth $76,000 after purchasing an additional 58 shares during the period. Gabelli Funds LLC acquired a new stake in shares of Reinsurance Group of America during the second quarter worth $1,006,000. Finally, Cerity Partners LLC boosted its holdings in Reinsurance Group of America by 15.5% in the 2nd quarter. Cerity Partners LLC now owns 33,716 shares of the insurance provider’s stock valued at $6,688,000 after purchasing an additional 4,527 shares during the period. 95.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Piper Sandler raised their target price on Reinsurance Group of America from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 23rd. Barclays set a $237.00 target price on shares of Reinsurance Group of America in a research report on Thursday, January 8th. TD Cowen reissued a “hold” rating on shares of Reinsurance Group of America in a research report on Wednesday, January 28th. Keefe, Bruyette & Woods decreased their price objective on Reinsurance Group of America from $255.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Reinsurance Group of America in a report on Monday, December 29th. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $238.67.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.