Reinsurance Group of America (NYSE:RGA) Posts Earnings Results, Beats Expectations By $1.52 EPS

Reinsurance Group of America (NYSE:RGA) posted its earnings results on Thursday. The insurance provider reported $8.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.97 by $1.52, FiscalAI reports. The company had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $6.69 billion. Reinsurance Group of America had a return on equity of 14.78% and a net margin of 5.81%.

Reinsurance Group of America Stock Performance

RGA traded down $4.92 during midday trading on Thursday, reaching $261.74. The company’s stock had a trading volume of 514,266 shares, compared to its average volume of 379,020. Reinsurance Group of America has a twelve month low of $182.73 and a twelve month high of $272.44. The company has a fifty day simple moving average of $254.55 and a 200 day simple moving average of $225.66. The stock has a market cap of $17.09 billion, a P/E ratio of 11.49 and a beta of 0.43. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.41.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. UBS Group upgraded Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Reinsurance Group of America in a research report on Friday, August 7th. TD Cowen lifted their price objective on shares of Reinsurance Group of America from $235.00 to $250.00 and gave the stock a “hold” rating in a research report on Wednesday, October 21st. JPMorgan Chase & Co. raised their price target on shares of Reinsurance Group of America from $293.00 to $297.00 and gave the stock an “overweight” rating in a report on Thursday, October 15th. Finally, Wells Fargo & Company lifted their price target on Reinsurance Group of America from $291.00 to $292.00 and gave the company an “overweight” rating in a report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Reinsurance Group of America has an average rating of “Buy” and an average price target of $273.75.

Insider Activity at Reinsurance Group of America

In other news, EVP Jonathan Porter sold 8,589 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $246.30, for a total transaction of $2,115,470.70. Following the completion of the transaction, the executive vice president owned 14,885 shares of the company’s stock, valued at approximately $3,666,175.50. This represents a 36.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.60% of the company’s stock.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (NYSE:RGA) is a global provider of life and health reinsurance. The company works with insurance carriers to help them manage mortality, longevity, morbidity and other insurance risks, while supporting the development and distribution of life and health insurance products.

RGA’s offerings include traditional life reinsurance, including term, whole life and universal life coverage, as well as health reinsurance and financial solutions. Its financial solutions business provides capital management, asset-intensive reinsurance, longevity and other risk-management arrangements designed to help insurers manage their balance sheets and meet changing customer and regulatory needs.

Founded in 1973 as part of General American Life Insurance Company, RGA became an independent public company in 1993.