Reinsurance Group of America, Incorporated Announces Quarterly Dividend of $0.89 (NYSE:RGA)

Reinsurance Group of America, Incorporated (NYSE:RGA) declared a quarterly dividend on Thursday, October 31st, RTT News reports. Investors of record on Tuesday, November 12th will be given a dividend of 0.89 per share by the insurance provider on Tuesday, November 26th. This represents a $3.56 annualized dividend and a yield of 1.69%.

Reinsurance Group of America has increased its dividend payment by an average of 5.6% per year over the last three years and has raised its dividend annually for the last 16 consecutive years. Reinsurance Group of America has a dividend payout ratio of 15.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Reinsurance Group of America to earn $22.50 per share next year, which means the company should continue to be able to cover its $3.56 annual dividend with an expected future payout ratio of 15.8%.

Reinsurance Group of America Price Performance

Shares of RGA opened at $210.89 on Friday. The firm has a market capitalization of $13.89 billion, a price-to-earnings ratio of 16.41 and a beta of 0.91. The firm’s fifty day simple moving average is $215.65 and its 200-day simple moving average is $208.79. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.52. Reinsurance Group of America has a twelve month low of $146.16 and a twelve month high of $227.87.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.94 by $0.54. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The company had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $5.07 billion. During the same period in the previous year, the business earned $4.40 EPS. Reinsurance Group of America’s revenue for the quarter was up 17.4% on a year-over-year basis. Equities analysts forecast that Reinsurance Group of America will post 21.8 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on RGA shares. Citigroup upped their price target on Reinsurance Group of America from $194.00 to $252.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Wells Fargo & Company upped their target price on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods upgraded shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, October 3rd. Royal Bank of Canada upped their price objective on shares of Reinsurance Group of America from $225.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Finally, Piper Sandler lifted their target price on Reinsurance Group of America from $237.00 to $242.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $226.62.

Insider Activity

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total value of $264,734.73. Following the completion of the transaction, the executive vice president now owns 12,357 shares in the company, valued at approximately $2,705,812.29. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.