Reinsurance Group of America (NYSE:RGA) Releases Quarterly Earnings Results, Beats Estimates By $2.39 EPS

Reinsurance Group of America (NYSE:RGA) announced its quarterly earnings results on Thursday. The insurance provider reported $8.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $2.39, FiscalAI reports. The company had revenue of $6.64 billion for the quarter, compared to analysts’ expectations of $6.67 billion. Reinsurance Group of America had a net margin of 4.92% and a return on equity of 13.16%. Reinsurance Group of America’s revenue was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.72 EPS.

Reinsurance Group of America Trading Up 0.1%

RGA stock opened at $236.51 on Friday. Reinsurance Group of America has a 1-year low of $178.21 and a 1-year high of $245.00. The business has a 50 day simple moving average of $221.48 and a two-hundred day simple moving average of $213.29. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.14 and a quick ratio of 0.14. The company has a market capitalization of $15.49 billion, a price-to-earnings ratio of 12.81 and a beta of 0.47.

Reinsurance Group of America Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be given a dividend of $0.98 per share. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.93. This represents a $3.92 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Tuesday, August 18th. Reinsurance Group of America’s dividend payout ratio (DPR) is 20.15%.

Analyst Upgrades and Downgrades

RGA has been the topic of a number of research analyst reports. UBS Group raised Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Reinsurance Group of America in a report on Wednesday, May 13th. Piper Sandler reduced their price target on shares of Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Barclays reiterated an “overweight” rating and issued a $290.00 price objective on shares of Reinsurance Group of America in a research note on Friday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Reinsurance Group of America from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $256.33.

Insider Activity at Reinsurance Group of America

In other Reinsurance Group of America news, EVP Ronald Herrmann sold 7,000 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $210.58, for a total transaction of $1,474,060.00. Following the completion of the transaction, the executive vice president owned 3,938 shares in the company, valued at $829,264.04. This trade represents a 64.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John W. Hayden sold 414 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total transaction of $88,989.30. Following the completion of the sale, the executive vice president owned 20,949 shares of the company’s stock, valued at $4,502,987.55. This trade represents a 1.94% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Reinsurance Group of America

Several hedge funds and other institutional investors have recently modified their holdings of RGA. Orion Porfolio Solutions LLC purchased a new stake in shares of Reinsurance Group of America in the 4th quarter worth approximately $224,000. CIBC Private Wealth Group LLC increased its holdings in Reinsurance Group of America by 6.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 974 shares of the insurance provider’s stock valued at $198,000 after buying an additional 56 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Reinsurance Group of America by 75.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,016 shares of the insurance provider’s stock valued at $207,000 after buying an additional 437 shares during the period. Numerai GP LLC bought a new position in Reinsurance Group of America in the third quarter worth approximately $247,000. Finally, FORA Capital LLC bought a new position in Reinsurance Group of America in the third quarter worth approximately $242,000. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.