Reinsurance Group of America, Incorporated (NYSE:RGA) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Reinsurance Group of America, Incorporated (NYSE:RGA) have been given an average rating of “Moderate Buy” by the eleven brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $255.00.

Several brokerages recently commented on RGA. Piper Sandler cut their price target on shares of Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating for the company in a report on Monday, May 11th. UBS Group raised shares of Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a report on Friday. JPMorgan Chase & Co. lifted their target price on shares of Reinsurance Group of America from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Tuesday. Evercore reissued an “outperform” rating and set a $267.00 target price on shares of Reinsurance Group of America in a research note on Monday, May 18th. Finally, Wall Street Zen upgraded shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th.

Insider Buying and Selling

In other Reinsurance Group of America news, EVP Ronald Herrmann sold 7,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $210.58, for a total transaction of $1,474,060.00. Following the completion of the transaction, the executive vice president owned 3,938 shares of the company’s stock, valued at $829,264.04. This represents a 64.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John W. Hayden sold 414 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $214.95, for a total value of $88,989.30. Following the completion of the transaction, the executive vice president owned 20,949 shares in the company, valued at approximately $4,502,987.55. This trade represents a 1.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RGA. AQR Capital Management LLC grew its holdings in shares of Reinsurance Group of America by 148.4% during the fourth quarter. AQR Capital Management LLC now owns 1,652,102 shares of the insurance provider’s stock worth $336,137,000 after buying an additional 987,014 shares in the last quarter. Norges Bank acquired a new stake in shares of Reinsurance Group of America in the fourth quarter valued at about $173,767,000. Orion Porfolio Solutions LLC lifted its stake in shares of Reinsurance Group of America by 6,076.4% in the second quarter. Orion Porfolio Solutions LLC now owns 602,503 shares of the insurance provider’s stock worth $119,512,000 after buying an additional 592,748 shares in the last quarter. SEB Asset Management AB purchased a new position in shares of Reinsurance Group of America in the first quarter worth about $81,533,000. Finally, Adage Capital Partners GP L.L.C. acquired a new position in Reinsurance Group of America during the second quarter worth about $69,426,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Trading Up 2.0%

Shares of Reinsurance Group of America stock opened at $238.93 on Friday. The company has a market cap of $15.65 billion, a P/E ratio of 12.94 and a beta of 0.47. Reinsurance Group of America has a fifty-two week low of $165.52 and a fifty-two week high of $245.00. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.14 and a current ratio of 0.14. The firm has a 50-day simple moving average of $216.78 and a two-hundred day simple moving average of $210.82.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, May 7th. The insurance provider reported $6.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.03 by $0.94. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.47 billion. During the same quarter in the prior year, the business posted $5.66 earnings per share. Reinsurance Group of America’s revenue for the quarter was up 23.5% on a year-over-year basis. As a group, equities analysts predict that Reinsurance Group of America will post 26.84 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 1.6%. The ex-dividend date was Tuesday, May 19th. Reinsurance Group of America’s payout ratio is 20.15%.

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.