Reinsurance Group of America (NYSE:RGA) Receives Outperform Rating from Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Reinsurance Group of America (NYSE:RGA) in a research note released on Friday, Benzinga reports. The brokerage currently has a $212.00 target price on the insurance provider’s stock.

Several other research firms have also weighed in on RGA. UBS Group increased their price objective on shares of Reinsurance Group of America from $198.00 to $223.00 and gave the stock a buy rating in a research note on Wednesday, April 10th. Evercore ISI raised their price target on shares of Reinsurance Group of America from $200.00 to $215.00 and gave the company an outperform rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods raised their price target on shares of Reinsurance Group of America from $200.00 to $220.00 and gave the company an outperform rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. raised their price target on shares of Reinsurance Group of America from $170.00 to $189.00 and gave the company a neutral rating in a research note on Tuesday, April 2nd. Finally, Wells Fargo & Company raised their price target on shares of Reinsurance Group of America from $193.00 to $210.00 and gave the company an overweight rating in a research note on Thursday, April 11th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Reinsurance Group of America currently has an average rating of Moderate Buy and an average price target of $194.38.

Reinsurance Group of America Stock Down 1.5 %

Shares of Reinsurance Group of America stock opened at $181.69 on Friday. The company has a fifty day moving average price of $181.17 and a 200 day moving average price of $166.89. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.48. Reinsurance Group of America has a twelve month low of $133.13 and a twelve month high of $196.25. The stock has a market cap of $11.95 billion, a price-to-earnings ratio of 13.53 and a beta of 0.89.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Friday, February 2nd. The insurance provider reported $4.73 earnings per share for the quarter, topping analysts’ consensus estimates of $4.40 by $0.33. The firm had revenue of $5.01 billion during the quarter, compared to analysts’ expectations of $4.57 billion. Reinsurance Group of America had a net margin of 4.86% and a return on equity of 16.20%. The firm’s revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.99 EPS. Equities research analysts forecast that Reinsurance Group of America will post 19.46 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 13th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Monday, February 12th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.87%. Reinsurance Group of America’s dividend payout ratio is currently 25.32%.

Insider Activity

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,908 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $181.84, for a total value of $346,950.72. Following the sale, the executive vice president now directly owns 13,363 shares in the company, valued at approximately $2,429,927.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP William L. Hutton sold 1,908 shares of Reinsurance Group of America stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $181.84, for a total transaction of $346,950.72. Following the completion of the transaction, the executive vice president now directly owns 13,363 shares of the company’s stock, valued at approximately $2,429,927.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Todd C. Larson sold 2,966 shares of Reinsurance Group of America stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $182.88, for a total transaction of $542,422.08. Following the transaction, the chief financial officer now directly owns 49,549 shares of the company’s stock, valued at $9,061,521.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,462 shares of company stock worth $1,162,239. 1.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Reinsurance Group of America

A number of institutional investors have recently modified their holdings of the stock. Rise Advisors LLC acquired a new stake in shares of Reinsurance Group of America during the 1st quarter worth approximately $29,000. Lindbrook Capital LLC grew its position in shares of Reinsurance Group of America by 129.9% during the 4th quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock worth $25,000 after buying an additional 87 shares during the period. Pineridge Advisors LLC acquired a new stake in shares of Reinsurance Group of America during the 4th quarter worth approximately $26,000. VisionPoint Advisory Group LLC grew its holdings in Reinsurance Group of America by 116.3% during the third quarter. VisionPoint Advisory Group LLC now owns 212 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 114 shares during the period. Finally, Toth Financial Advisory Corp grew its holdings in Reinsurance Group of America by 41.2% during the fourth quarter. Toth Financial Advisory Corp now owns 240 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 70 shares during the period. 95.11% of the stock is owned by institutional investors.

About Reinsurance Group of America

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.