Reinsurance Group of America, Incorporated (NYSE:RGA) Declares Quarterly Dividend of $0.85

Reinsurance Group of America, Incorporated (NYSE:RGA) announced a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Investors of record on Tuesday, May 14th will be given a dividend of 0.85 per share by the insurance provider on Tuesday, May 28th. This represents a $3.40 annualized dividend and a yield of 1.69%. The ex-dividend date is Monday, May 13th.

Reinsurance Group of America has raised its dividend by an average of 5.6% per year over the last three years and has increased its dividend annually for the last 15 consecutive years. Reinsurance Group of America has a dividend payout ratio of 15.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Reinsurance Group of America to earn $21.16 per share next year, which means the company should continue to be able to cover its $3.40 annual dividend with an expected future payout ratio of 16.1%.

Reinsurance Group of America Trading Up 5.5 %

RGA opened at $201.77 on Friday. The stock has a market capitalization of $13.27 billion, a P/E ratio of 15.68 and a beta of 0.88. Reinsurance Group of America has a 12 month low of $133.13 and a 12 month high of $202.06. The firm’s fifty day simple moving average is $186.04 and its 200 day simple moving average is $170.47. 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 (NYSE:RGA) last posted its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $6.02 EPS for the quarter, beating the consensus estimate of $4.51 by $1.51. The business had revenue of $6.34 billion for the quarter, compared to analysts’ expectations of $4.54 billion. Reinsurance Group of America had a net margin of 4.16% and a return on equity of 16.49%. During the same period in the previous year, the firm posted $5.16 EPS. As a group, research analysts anticipate that Reinsurance Group of America will post 19.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on RGA shares. Keefe, Bruyette & Woods boosted their price objective on shares of Reinsurance Group of America from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Morgan Stanley boosted their price target on shares of Reinsurance Group of America from $178.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Royal Bank of Canada reissued an “outperform” rating and set a $212.00 price target on shares of Reinsurance Group of America in a research report on Friday, April 12th. UBS Group boosted their price target on shares of Reinsurance Group of America from $198.00 to $223.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company boosted their price target on shares of Reinsurance Group of America from $193.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Two investment 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 company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $194.85.

Insider Activity at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,588 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $171.83, for a total value of $272,866.04. Following the transaction, the executive vice president now owns 13,625 shares in the company, valued at approximately $2,341,183.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP William L. Hutton sold 1,588 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $171.83, for a total value of $272,866.04. Following the transaction, the executive vice president now owns 13,625 shares in the company, valued at approximately $2,341,183.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Todd C. Larson sold 2,966 shares of the company’s 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 completion of the transaction, the chief financial officer now owns 49,549 shares in the company, valued at approximately $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. 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.