Reinsurance Group of America, Incorporated (NYSE:RGA) Plans Quarterly Dividend of $0.98

Key Points

• RGA declared a quarterly dividend of $0.98 per share, payable December 1 to shareholders of record November 17. That equates to $3.92 annually and a 1.4% yield.
• The company has raised its dividend for 16 consecutive years. Its 15.4% payout ratio indicates the dividend is well covered by earnings.
• RGA reported quarterly earnings of $8.49 per share, beating the $6.97 analyst consensus, while revenue also topped expectations. Analysts’ consensus rating was Buy, with an average price target of $281.12.

Reinsurance Group of America, Incorporated (NYSE:RGA - Get Free Report) announced a quarterly dividend on Thursday, October 22nd. Shareholders of record on Tuesday, November 17th will be given a dividend of $0.98 per share by the insurance provider on Tuesday, December 1st. This represents a $3.92 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, November 17th.

Reinsurance Group of America has increased its dividend by an average of 0.1% per year over the last three years and has increased its dividend every year for the last 16 years. Reinsurance Group of America has a payout ratio of 15.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Reinsurance Group of America to earn $29.71 per share next year, which means the company should continue to be able to cover its $3.92 annual dividend with an expected future payout ratio of 13.2%.

Reinsurance Group of America Stock Performance

Shares of NYSE RGA traded up $1.50 during midday trading on Friday, hitting $275.24. 357,528 shares of the company's stock were exchanged, compared to its average volume of 454,101. The company has a quick ratio of 0.14, a current ratio of 0.16 and a debt-to-equity ratio of 0.45. Reinsurance Group of America has a 12 month low of $182.73 and a 12 month high of $277.15. The company's 50 day moving average price is $257.46 and its 200 day moving average price is $228.24. The firm has a market capitalization of $17.90 billion, a PE ratio of 10.64 and a beta of 0.43.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The insurance provider reported $8.49 earnings per share for the quarter, beating analysts' consensus estimates of $6.97 by $1.52. Reinsurance Group of America had a return on equity of 16.18% and a net margin of 6.26%. The business had revenue of $7.55 billion for the quarter, compared to analysts' expectations of $6.69 billion. During the same quarter in the prior year, the business earned $6.37 EPS. As a group, analysts predict that Reinsurance Group of America will post 30.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on RGA shares. JPMorgan Chase & Co. increased their price objective on shares of Reinsurance Group of America from $293.00 to $297.00 and gave the company an "overweight" rating in a research report on Thursday, October 15th. UBS Group raised shares of Reinsurance Group of America from a "hold" rating to a "strong-buy" rating in a report on Friday, July 24th. Wells Fargo & Company raised their price objective on shares of Reinsurance Group of America from $292.00 to $312.00 and gave the stock an "overweight" rating in a research report on Thursday. Barclays set a $292.00 target price on Reinsurance Group of America in a research report on Thursday, October 8th. Finally, Morgan Stanley upgraded Reinsurance Group of America from an "equal weight" rating to an "overweight" rating and set a $295.00 target price on the stock in a research note on Monday, September 28th. 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 company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $281.12.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated (RGA) is a global life and health reinsurer. It works with insurance companies to help them manage risks and support the development and distribution of insurance products. Its services include life and health reinsurance, as well as solutions involving longevity risk and asset-intensive reinsurance. RGA also provides underwriting expertise, data and analytics, and product and risk-management support to its clients. Founded in 1973, RGA serves clients across North America, Latin America, Europe, the Middle East and Africa, and Asia Pacific.

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