Reinsurance Group of America, Incorporated (NYSE:RGA) to Issue Quarterly Dividend of $0.73

Reinsurance Group of America, Incorporated (NYSE:RGAGet Rating) declared a quarterly dividend on Tuesday, May 3rd, Zacks reports. Shareholders of record on Tuesday, May 17th will be paid a dividend of 0.73 per share by the insurance provider on Tuesday, May 31st. This represents a $2.92 annualized dividend and a yield of 2.48%. The ex-dividend date is Monday, May 16th.

Reinsurance Group of America has raised its dividend by an average of 9.1% per year over the last three years and has raised its dividend every year for the last 12 years. Reinsurance Group of America has a payout ratio of 19.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Reinsurance Group of America to earn $15.25 per share next year, which means the company should continue to be able to cover its $2.92 annual dividend with an expected future payout ratio of 19.1%.

NYSE RGA opened at $117.91 on Friday. The stock’s 50-day moving average price is $109.54 and its 200-day moving average price is $110.11. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.40. Reinsurance Group of America has a 52 week low of $94.32 and a 52 week high of $129.63. The company has a market capitalization of $7.90 billion, a P/E ratio of 19.43 and a beta of 1.10.

Reinsurance Group of America (NYSE:RGAGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The insurance provider reported $0.47 EPS for the quarter, topping the consensus estimate of ($0.55) by $1.02. Reinsurance Group of America had a return on equity of 1.59% and a net margin of 2.52%. The firm had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter last year, the company earned ($1.24) earnings per share. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. Research analysts anticipate that Reinsurance Group of America will post 9.76 EPS for the current year.

RGA has been the topic of a number of research reports. Credit Suisse Group lifted their price objective on Reinsurance Group of America from $76.00 to $80.00 and gave the stock an “underperform” rating in a research note on Thursday, March 3rd. Jefferies Financial Group assumed coverage on Reinsurance Group of America in a report on Tuesday, January 25th. They issued a “buy” rating and a $130.00 target price for the company. Zacks Investment Research upgraded Reinsurance Group of America from a “strong sell” rating to a “hold” rating and set a $116.00 target price for the company in a report on Wednesday, April 6th. TheStreet cut Reinsurance Group of America from a “b-” rating to a “c” rating in a report on Thursday, May 5th. Finally, Wolfe Research assumed coverage on Reinsurance Group of America in a report on Friday, January 21st. They issued an “underperform” rating and a $100.00 target price for the company. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Reinsurance Group of America presently has a consensus rating of “Hold” and a consensus target price of $122.10.

In related news, Director Christine Rose Detrick sold 4,300 shares of the company’s stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $113.34, for a total transaction of $487,362.00. Following the transaction, the director now directly owns 1,618 shares of the company’s stock, valued at approximately $183,384.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.55% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its stake in Reinsurance Group of America by 5.5% during the 4th quarter. BlackRock Inc. now owns 6,383,743 shares of the insurance provider’s stock valued at $698,957,000 after purchasing an additional 333,803 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Reinsurance Group of America by 28.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 640,922 shares of the insurance provider’s stock worth $70,174,000 after buying an additional 141,889 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Reinsurance Group of America by 3.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 411,643 shares of the insurance provider’s stock worth $45,059,000 after buying an additional 14,883 shares during the last quarter. Morgan Stanley boosted its stake in shares of Reinsurance Group of America by 10.4% in the second quarter. Morgan Stanley now owns 170,789 shares of the insurance provider’s stock worth $19,470,000 after buying an additional 16,133 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of Reinsurance Group of America by 21.6% in the fourth quarter. Barclays PLC now owns 134,820 shares of the insurance provider’s stock worth $14,761,000 after buying an additional 23,921 shares during the last quarter. Institutional investors and hedge funds own 96.37% of the company’s stock.

Reinsurance Group of America Company Profile (Get Rating)

Reinsurance Group of America, Incorporated engages in reinsurance business. It 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.

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Dividend History for Reinsurance Group of America (NYSE:RGA)

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