Reinsurance Group of America (NYSE:RGA) Earns Market Perform Rating from Raymond James

Raymond James reiterated their market perform rating on shares of Reinsurance Group of America (NYSE:RGA) in a research report released on Friday morning, MarketBeat reports.

Other research analysts also recently issued research reports about the stock. UBS Group reiterated a “neutral” rating and issued a $216.00 price target (down previously from $250.00) on shares of Reinsurance Group of America in a research note on Wednesday, April 2nd. Evercore ISI decreased their price target on shares of Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. JPMorgan Chase & Co. upgraded shares of Reinsurance Group of America from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $232.00 to $237.00 in a research note on Wednesday, April 2nd. Wells Fargo & Company lifted their price target on shares of Reinsurance Group of America from $246.00 to $248.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $228.85.

Reinsurance Group of America Trading Down 1.5%

NYSE RGA opened at $199.89 on Friday. The firm has a 50 day simple moving average of $192.23 and a 200-day simple moving average of $206.54. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.17 and a current ratio of 0.15. Reinsurance Group of America has a one year low of $159.25 and a one year high of $233.81. The firm has a market cap of $13.21 billion, a price-to-earnings ratio of 18.61 and a beta of 0.57.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, May 1st. The insurance provider reported $5.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.33 by $0.33. Reinsurance Group of America had a net margin of 3.24% and a return on equity of 14.55%. The company had revenue of $5.26 billion during the quarter, compared to the consensus estimate of $5.74 billion. During the same quarter in the previous year, the firm earned $6.02 earnings per share. The firm’s quarterly revenue was down 17.0% on a year-over-year basis. Equities research analysts anticipate that Reinsurance Group of America will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be issued a dividend of $0.89 per share. The ex-dividend date is Tuesday, May 13th. This represents a $3.56 dividend on an annualized basis and a yield of 1.78%. Reinsurance Group of America’s payout ratio is currently 30.04%.

Institutional Trading of Reinsurance Group of America

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RGA. Alpine Bank Wealth Management acquired a new stake in Reinsurance Group of America during the first quarter worth approximately $28,000. Colonial Trust Co SC raised its holdings in Reinsurance Group of America by 72.2% during the fourth quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 57 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in shares of Reinsurance Group of America by 164.3% in the 1st quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 92 shares during the period. Cornerstone Planning Group LLC increased its holdings in shares of Reinsurance Group of America by 224.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 175 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 121 shares during the period. Finally, TCTC Holdings LLC increased its holdings in shares of Reinsurance Group of America by 107.2% in the 1st quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 89 shares during the period. Institutional investors and hedge funds 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.