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

Royal Bank of Canada reiterated their outperform rating on shares of Reinsurance Group of America (NYSE:RGA - Free Report) in a research note published on Friday morning, Benzinga reports. Royal Bank of Canada currently has a $212.00 target price on the insurance provider's stock.

Several other analysts have also recently issued reports on the company. Evercore ISI raised their target price on Reinsurance Group of America from $200.00 to $215.00 and gave the stock an outperform rating in a research note on Thursday. Keefe, Bruyette & Woods raised their target price on Reinsurance Group of America from $200.00 to $220.00 and gave the stock an outperform rating in a research note on Wednesday. JPMorgan Chase & Co. raised their target price on Reinsurance Group of America from $170.00 to $189.00 and gave the stock a neutral rating in a research note on Tuesday, April 2nd. UBS Group raised their target price on Reinsurance Group of America from $198.00 to $223.00 and gave the stock a buy rating in a research note on Wednesday. Finally, Piper Sandler raised their target price on Reinsurance Group of America from $195.00 to $220.00 and gave the stock an overweight rating in a research note on Friday, April 5th. Three 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 company currently has an average rating of Moderate Buy and an average price target of $193.23.

Reinsurance Group of America Trading Down 0.3 %

Shares of NYSE:RGA traded down $0.58 on Friday, reaching $184.32. 290,443 shares of the company traded hands, compared to its average volume of 344,995. The business's 50-day simple moving average is $180.55 and its 200 day simple moving average is $166.11. Reinsurance Group of America has a 52 week low of $133.13 and a 52 week high of $196.25. The stock has a market capitalization of $12.12 billion, a P/E ratio of 13.72 and a beta of 0.89. 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 (NYSE:RGA - Get Free Report) last announced its quarterly earnings data on Friday, February 2nd. The insurance provider reported $4.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.40 by $0.33. Reinsurance Group of America had a return on equity of 16.20% and a net margin of 4.86%. The firm had revenue of $5.01 billion for the quarter, compared to analysts' expectations of $4.57 billion. During the same period last year, the firm earned $2.99 earnings per share. The company's revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, equities analysts anticipate that Reinsurance Group of America will post 19.38 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Tuesday, February 13th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend was Monday, February 12th. Reinsurance Group of America's dividend payout ratio (DPR) is presently 25.32%.

Insiders Place Their Bets

In other Reinsurance Group of America news, CFO Todd C. Larson sold 2,966 shares of Reinsurance Group of America stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $182.88, for a total value of $542,422.08. Following the completion of the sale, the chief financial officer now owns 49,549 shares of the company's stock, valued at approximately $9,061,521.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Todd C. Larson sold 2,966 shares of the business's stock in a transaction on 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 sale, the chief financial officer now owns 49,549 shares of the company's stock, valued at approximately $9,061,521.12. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP William L. Hutton sold 1,908 shares of the business's stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $181.84, for a total transaction of $346,950.72. Following the sale, the executive vice president now directly owns 13,363 shares of the company's stock, valued at approximately $2,429,927.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,462 shares of company stock valued at $1,162,239. Company insiders own 1.31% of the company's stock.

Institutional Investors Weigh In On Reinsurance Group of America

A number of hedge funds have recently modified their holdings of the business. Picton Mahoney Asset Management boosted its holdings in Reinsurance Group of America by 121.9% in the 3rd quarter. Picton Mahoney Asset Management now owns 122,552 shares of the insurance provider's stock worth $17,794,000 after buying an additional 67,318 shares during the period. Raymond James & Associates boosted its holdings in Reinsurance Group of America by 13.0% in the 4th quarter. Raymond James & Associates now owns 244,771 shares of the insurance provider's stock worth $39,599,000 after buying an additional 28,193 shares during the period. Teachers Retirement System of The State of Kentucky boosted its holdings in Reinsurance Group of America by 93.8% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 22,655 shares of the insurance provider's stock worth $3,289,000 after buying an additional 10,968 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Reinsurance Group of America by 231.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 142,322 shares of the insurance provider's stock worth $23,025,000 after buying an additional 99,406 shares during the period. Finally, Amalgamated Bank boosted its holdings in Reinsurance Group of America by 12.5% in the 3rd quarter. Amalgamated Bank now owns 48,884 shares of the insurance provider's stock worth $7,097,000 after buying an additional 5,434 shares during the period. Institutional investors own 95.11% of the company's stock.

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.