Reinsurance Group of America, Incorporated (NYSE:RGA) Receives Average Rating of “Hold” by Brokerages

Shares of Reinsurance Group of America, Incorporated (NYSE:RGA – Get Rating) earned an average recommendation of “Hold” from the fourteen research firms that currently cover the stock, reports MarketBeat Ratings. Two analysts gave the stock a sell rating, five gave the company a hold rating and five gave the company a buy rating. The 12-month average price target among brokers who have covered the stock over the past year is $127.67.

A number of research analysts have recently released reports on RGA stocks. TheStreet downgraded Reinsurance Group of America from a “b-” rating to a “c” rating in a Thursday, May 5, report. Citigroup launched coverage on Reinsurance Group of America in a research note on Monday, May 23. They issued a “sell” rating and a price target of $110.00 on the stock. Zacks Investment Research upgraded Reinsurance Group of America from a “strong sell” rating to a “hold” rating and set a price target of $116.00 on the stock in a Wednesday, April 6 research note. . StockNews.com upgraded Reinsurance Group of America from a “buy” to a “hold” rating in a Saturday, May 14 research note. Finally, Morgan Stanley downgraded Reinsurance Group of America from an “underweight” to an “equal weight” rating and raised its price target for the company from $126.00 to $132.00 in a note. research on Thursday, May 19.

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Separately, director Christine Rose Detrick sold 4,300 shares of the company in a trade dated Tuesday, May 10. 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 owns 1,618 shares of the company, valued at $183,384.12. The transaction was disclosed in a filing with the SEC, accessible via this link. 1.55% of the shares are currently held by insiders.

Several hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. Bank of America Corp DE increased its holdings of Reinsurance Group of America shares 17.1% in the first quarter. Bank of America Corp DE now owns 958,246 shares of the insurance provider worth $104,890,000 after buying an additional 139,710 shares in the last quarter. Rehmann Capital Advisory Group increased its holdings of Reinsurance Group of America shares by 3.2% in the first quarter. Rehmann Capital Advisory Group now owns 8,114 shares of the insurance provider worth $888,000 after buying 253 additional shares in the last quarter. Walleye Capital LLC bought a new position in shares of Reinsurance Group of America during the first quarter for a value of approximately $647,000. Toroso Investments LLC bought a new stock position in Reinsurance Group of America during the first quarter worth approximately $401,000. Finally, Polar Capital Holdings Plc increased its holdings of Reinsurance Group of America shares by 13.4% in the first quarter. Polar Capital Holdings Plc now owns 615,000 shares of the insurance provider worth $67,318,000 after buying an additional 72,500 shares in the last quarter. 96.37% of the shares are currently held by hedge funds and other institutional investors.

NYSE:RGA opened at $125.30 on Thursday. The company has a market capitalization of $8.39 billion, a PE ratio of 20.64 and a beta of 1.08. The stock has a fifty-day moving average price of $116.15 and a 200-day moving average price of $111.22. Reinsurance Group of America has a 12-month low of $94.32 and a 12-month high of $127.22. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt ratio of 0.40.

Reinsurance Group of America (NYSE:RGA – Get Rating) last reported results on Thursday, May 5. The insurance provider reported earnings per share (EPS) of $0.47 for the quarter, beating analyst consensus estimates of ($0.61) by $1.08. The company posted revenue of $3.93 billion in the quarter, versus analyst estimates of $3.89 billion. Reinsurance Group of America achieved a return on equity of 1.59% and a net margin of 2.52%. Reinsurance Group of America’s revenue was down 4.6% from the same quarter last year. During the same period last year, the company posted ($1.24) earnings per share. Equity analysts expect Reinsurance Group of America to post EPS of 9.76 for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 31. Shareholders of record on Tuesday, May 17 received a dividend of $0.73 per share. This represents a dividend of $2.92 on an annualized basis and a dividend yield of 2.33%. The ex-dividend date was Monday, May 16. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 48.11%.

Reinsurance Group of America Company Profile (Get an evaluation)

Reinsurance Group of America, Incorporated is engaged in reinsurance business. It offers individual and group life and health insurance products, such as term life insurance, creditor insurance, universal life insurance, group life and health insurance, joint and last survivor insurance, critical illness, disability and longevity products; asset-intensive and financial reinsurance products; and other capital-driven solutions.

Further reading

Analyst Recommendations for Reinsurance Group of America (NYSE:RGA)

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