Reinsurance Group of America, Incorporated (NYSE: RGA) Receives Consensus Recommendation to “Keep” Brokerages
Shares of Reinsurance Group of America, Incorporated (NYSE: RGA) received an average rating of “Hold” by the ten research companies that currently cover the stock, reports MarketBeat. Two investment analysts gave the stock a sell rating, two assigned a conservation rating and four gave the company a buy rating. The 1-year average price target among analysts who hedged the stock in the past year is $ 127.78.
A number of research companies have recently weighed in on RGA. Keefe, Bruyette & Woods upgraded Reinsurance Group of America from a “market performance” rating to an “outperformance” rating and set a target price of $ 142.00 for the company in a research note on Tuesday 12 October. Zacks Investment Research upgraded Reinsurance Group of America from a “sell” rating to a “conservation” rating and set a price target of $ 117.00 for the company in a research report released on Wednesday, August 4. JPMorgan Chase & Co. raised Reinsurance Group of America from a “neutral” to an “overweight” rating and raised its price target for the company from $ 137.00 to $ 138.00 in a research report on Monday July 12. Finally, Morgan Stanley raised its price target on Reinsurance Group of America from $ 127.00 to $ 130.00 and gave the company an “underweight” rating in a research report on Thursday, October 14.
In other news from Reinsurance Group of America, director Christine Rose Detrick sold 3,000 shares of the company in a transaction that took place on Friday, August 6. The stock was sold for an average price of $ 121.70, for a total trade of $ 365,100.00. The transaction was disclosed in a file with the SEC, which is available on the SEC’s website. 0.98% of the shares are currently held by company insiders.
Institutional investors recently bought and sold shares. Holocene Advisors LP purchased a new equity stake in Reinsurance Group of America in the 1st quarter for a value of approximately $ 1,088,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in the shares of Reinsurance Group of America by 15.8% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,417 shares of the insurance provider valued at $ 1,758,000 after purchasing an additional 2,100 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Reinsurance Group of America by 3.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,357,634 shares of the insurance provider valued at $ 154,767,000 after purchasing an additional 40,878 shares in the last quarter. Bbva USA acquired a new equity stake in Reinsurance Group of America in the 2nd quarter for a value of approximately $ 1,007,000. Finally, the Ontario Teachers’ Pension Plan Board purchased a new stake in Reinsurance Group of America during the first quarter valued at $ 234,000. Institutional investors hold 93.22% of the shares of the company.
NYSE RGA opened at $ 120.54 on Wednesday. Reinsurance Group of America has a one-year minimum of $ 93.00 and a one-year maximum of $ 134.93. The company has a current ratio of 0.12, a quick ratio of 0.12, and a debt ratio of 0.24. The stock has a 50-day moving average of $ 115.98 and a 200-day moving average of $ 1,197.72. The company has a market cap of $ 8.20 billion, a PE ratio of 9.95 and a beta of 1.23.
Reinsurance Group of America (NYSE: RGA) last released its results on Monday, August 2. The insurance provider reported earnings per share of $ 4.00 for the quarter, beating analyst consensus estimates of $ 2.35 by $ 1.65. Reinsurance Group of America reported a return on equity of 3.84% and a net margin of 5.16%. The company posted revenue of $ 4.03 billion in the quarter, compared to $ 3.67 billion according to analysts’ estimates. As a group, equity research analysts predict that Reinsurance Group of America will post earnings per share of 9.48 for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 31. Shareholders of record on Tuesday, August 17, received a dividend of $ 0.73 per share. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $ 0.70. The ex-dividend date was Monday August 16. This represents a dividend of $ 2.92 on an annualized basis and a dividend yield of 2.42%. Reinsurance Group of America’s dividend payout ratio is 38.73%.
About Reinsurance Group of America
Reinsurance Group of America, Inc. is a holding company that provides traditional and non-traditional life and health reinsurance products. It operates through the following segments: United States and Latin America; Canada; Europe, Middle East and Africa; Asia Pacific; and Businesses and others.
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