Reinsurance Group of America’s (RGA) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Reinsurance Group of America (NYSE:RGA) in a research report report published on Friday, Benzinga reports. Royal Bank of Canada currently has a $225.00 target price on the insurance provider’s stock.

A number of other brokerages have also recently commented on RGA. UBS Group lifted their target price on Reinsurance Group of America from $223.00 to $240.00 and gave the stock a buy rating in a report on Thursday, May 30th. Morgan Stanley increased their target price on shares of Reinsurance Group of America from $178.00 to $185.00 and gave the company an equal weight rating in a research note on Monday, April 15th. Evercore ISI lifted their price target on shares of Reinsurance Group of America from $200.00 to $215.00 and gave the stock an outperform rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. increased their price objective on shares of Reinsurance Group of America from $189.00 to $195.00 and gave the stock a neutral rating in a research report on Friday, May 3rd. Finally, Piper Sandler boosted their target price on Reinsurance Group of America from $195.00 to $220.00 and gave the company an overweight rating in a research report on Friday, April 5th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Reinsurance Group of America currently has a consensus rating of Moderate Buy and an average target price of $211.00.

Reinsurance Group of America Price Performance

Reinsurance Group of America stock opened at $202.01 on Friday. Reinsurance Group of America has a 52-week low of $135.07 and a 52-week high of $213.21. The company has a market cap of $13.29 billion, a price-to-earnings ratio of 15.70 and a beta of 0.92. The firm’s fifty day moving average is $199.41 and its 200 day moving average is $182.07. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.46.

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

Reinsurance Group of America Announces Dividend

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

Insiders Place Their Bets

In other news, EVP John W. Hayden sold 1,767 shares of the 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 owns 16,490 shares of the company’s stock, valued at approximately $3,410,956.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.37% of the stock is currently owned by company insiders.

Institutional Trading of Reinsurance Group of America

A number of hedge funds have recently added to or reduced their stakes in the business. New Covenant Trust Company N.A. bought a new stake in shares of Reinsurance Group of America in the 1st quarter valued at about $28,000. Rise Advisors LLC purchased a new position in Reinsurance Group of America during the first quarter valued at approximately $29,000. Lindbrook Capital LLC raised its stake in Reinsurance Group of America by 129.9% in the fourth quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock worth $25,000 after buying an additional 87 shares in the last quarter. LRI Investments LLC purchased a new stake in Reinsurance Group of America during the first quarter worth $33,000. Finally, Pineridge Advisors LLC bought a new stake in Reinsurance Group of America during the 4th quarter valued at $26,000. 95.11% of the stock is owned by hedge funds and other institutional investors.

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.