Reinsurance Group of America (NYSE:RGA) Posts Earnings Results

Reinsurance Group of America (NYSE:RGA) released its quarterly earnings results on Thursday. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.94 by $0.54, Briefing.com reports. The business had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $5.07 billion. Reinsurance Group of America had a return on equity of 16.23% and a net margin of 4.01%. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the company posted $4.40 EPS.

Reinsurance Group of America Stock Performance

Shares of NYSE:RGA traded down $16.69 during trading on Friday, hitting $206.31. The stock had a trading volume of 1,227,518 shares, compared to its average volume of 463,604. Reinsurance Group of America has a 12-month low of $135.07 and a 12-month high of $227.87. The stock has a market capitalization of $13.57 billion, a price-to-earnings ratio of 16.03 and a beta of 0.92. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.46. The stock has a 50-day simple moving average of $209.78 and a two-hundred day simple moving average of $193.42.

Reinsurance Group of America Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.73%. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Tuesday, August 13th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 26.42%.

Wall Street Analyst Weigh In

RGA has been the topic of a number of analyst reports. UBS Group lifted their price objective on Reinsurance Group of America from $223.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Citigroup lifted their price objective on Reinsurance Group of America from $194.00 to $252.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Evercore ISI lifted their price objective on Reinsurance Group of America from $225.00 to $241.00 and gave the company an “outperform” rating in a research report on Wednesday, June 26th. Raymond James boosted their price target on Reinsurance Group of America from $212.00 to $228.00 and gave the stock a “strong-buy” rating in a report on Friday, June 14th. Finally, Piper Sandler upped their price objective on Reinsurance Group of America from $228.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, June 28th. Two investment 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $216.73.

Insider Transactions at Reinsurance Group of America

In related news, EVP John W. Hayden sold 1,767 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $206.85, for a total transaction of $365,503.95. Following the sale, the executive vice president now directly owns 16,490 shares of the company’s stock, valued at $3,410,956.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.37% of the company’s stock.

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.